Question

The section of KCS Act that deals with Reserve Fund ?

• A. Sec 47 B
• B. Sec 60 C
• C. Sec 52 D
• D. Sec 56(1) A

Answer 1

Answer:

D. Sec 56(1) A

Statutory Reserve

• Reserve Fund - Sec 56(1) A / Rule 53(1)

• Cooperative Education Fund - Sec 56(1) B / Rule 53 (2)

• Cooperative Member relief fund - Sec 56 (1)c / Rule 53 A

Non Statutory Reserve

• Sec 56 (2) A - Dividend 

• See 56 (2) B - Bonus 

• Sec 56 (2) C - Agricultural Credit Stabilisation Fund 

• Sec 56 (2) D - Common Good Fund