47. Allocation of surplus profits
[47. Allocation of surplus profits.—After making provision for bad and doubtful debts, depreciation in assets, contributions to staff and superannuation fund [and for all other matters for which provision is to be made by or under this Act or which] are usually provided for by bankers, the balance, of the profits shall be paid to the Central Government.]
Amendment notes (2)
- Subs w.e.f. 1-1-1949 . Subs. by Act 62 of 1948, s. 7 and the Schedule, for section 47 (w.e.f. 1-1-1949).
- Subs w.e.f. 8-5-1955 . Subs. by Act 24 of 1955, s. 8, for "and such other contingencies as" (w.e.f. 8-5-1955).