Amendment of Section 10

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..... e Central Government may, by notification in the Official Gazette, specify, to the extent specify, to the extent specified in the notification", the words "as may be prescribed and to the extent as may be prescribed" shall be substituted; (3) in clause (15), for sub-clause (v), the following sub-clause shall be substituted, namely :- '(v) interest on - (a) securities held by the Welfare Commissioner, Bhopal Gas Victims, Bhopal, in the Reserve Bank's SGL Account No. SL/DH048; (b) deposits for the benefit of the victims of the Bhopal gas leak disaster held in such account, with the Reserve Bank of India or with a public sector bank, as the Central Government may, by notification in the Official Gazette, specify, .....

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..... e objects for which it is established; and (ii) invests its funds and contributions and other sums received by it in the forms or modes specified in sub-section (5) of section 11; (b) the fund is approved by the Commissioner in accordance with rules made in this behalf : Provided that any such approval shall at any one time have effect for such assessment year or years not exceeding three assessment years as may be specified in the order of approval;"; (6) in clause (23D), for the portion beginning with the words "any income of such Mutual Fund" and ending with the words "specify in this behalf", the following shall be substituted with effect from the 1st day of July, 1995, namely :- "any income of - .....

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..... , the aggregate amount of income by way of dividends on such equity shares which has not been included in the total income of the previous year or years preceding the previous year in which such transfer has taken place shall be deemed to be the income of the venture capital fund or of the venture capital company of the previous year in which such transfer has taken place : Provided also that the exemption shall not be allowed in respect of the long-term capital gains, if any, arising on such transfer of equity shares as is mentioned in the third proviso. Explanation : For the purposes of this clause, - (a) "venture capital fund" means such fund, operating under a trust deed registered under the provisions of the Registratio .....

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