21Dividends

21 Dividends

(1) The Trust shall not distribute any moneys amongst its members in the form of dividends except from profits (including accumulated profits and realized capital profits), and in accordance with an express resolution of a general meeting of the Trust.

(2) Any amount distributed in any financial year shall not exceed the amount determined by the committee of management to be available for that purpose in that year, after adequate provision is made for the payment or setting aside of other moneys to be paid or set aside from the income of the Trust.

(3) Any amount authorized to be distributed as dividends by a resolution of a general meeting shall be deemed to be appropriated for the purpose, and held in trust for the persons entitled to receive dividends in their respective shares.

S. 21A inserted by No. 29/2024 s. 16.