TMI BlogAmendment of section 28.X X X X Extracts X X X X X X X X Extracts X X X X ..... n undertaken by the Board under section 26, any surplus emerges,- (a) for every financial year previous to the financial year for which the funds referred to in sub-section (2) of section 24 are to be maintained, and for any subsequent financial year for which members may exempt the maintenance of such funds,- (I) ninety per cent., or such higher percentage as the Board may approve, of such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d (II) such percentage of the remaining surplus as the Board may approve, shall be allocated to or reserved for members and may either be credited to a separate account maintained by the Corporation or be transferred to such reserve or reserves as the Board may specify; (ii) in respect of non-participating policy-holders, one hundred per cent. of surplus relating to such policy-holders shall ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rporation shall, with the approval of the Board, publish on its website its surplus distribution policy at least once in five years, or such shorter period not less than three years as the Board may deem fit, and such policy shall specify, among other things, the percentages referred to in sub-section (1). . - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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