Bengal Bonded Warehouse Association Act : Ordinary General Meetings Indian Bare Acts :

Bengal Bonded Warehouse Association Act,1854

Act No : 5

Section : Ordinary General Meetings

5. Ordinary General Meetings.

Ordinary General Meetings of the said proprietors shall be held at least twice in every year, that is to say, on the second Wednesday in the month of May, and the second Wednesday in the month of November, and at every such Ordinary Meeting the Directors of the said Association shall present a report in writing of the state of the affairs of the said Association and a balance-sheet; and such General Meeting may declare a dividend out of the profits of the said Association, provided that no dividend shall be made which shall diminish the capital of the said Association.