State Act
18
Section 18. Disposal of profits when condition of State aid is not fulfilled
THE PUDUCHERRY STATE AID TO INDUSTRIES ACT, 1970
Act no. 3 of 19711971In forcePuducherry (State Act)
18. Disposal of profits when condition of State aid is not fulfilled No recipient of the State aid shall pay any dividend or distribute or take any profits in excess of such percentage rate upon the amount of the capital of the industrial business or enterprise as the Government may fix from time to time until the conditions on which the state aid has been granted are fulfilled. The balance of the profits, after setting aside proper amounts for depreciation or obsolescence of plant and buildings, and for the payment of interest on debentures of loans, shall be carried to a reserve fund to be utilised in such manner as the Government may approve.