Common use of Record Date for Dividends and Rights Clause in Contracts

Record Date for Dividends and Rights. The board may fix in advance a date preceding by not more than 50 clear days the date for the payment of any dividend or the making of any distribution or for the issue of any warrant or other evidence of right to acquire securities of the Corporation, as a record date for the determination of the persons entitled to receive payment of such dividend or distribution or to receive such right. In every such case only the persons who are holders of record of the relevant shares at the close of business on the date so fixed shall be entitled to receive payment of such dividend or distribution or to receive such right. Notice of any such record date fixed by the board shall be given as and when required by the Act. Where no such record date is fixed by the board, the record date for the determination of the persons entitled to receive payment of such dividend or distribution or to receive such right shall be the close of business on the day on which the board passes the resolution relating thereto.

Record Date for Dividends and Rights. The board Board may fix in advance a date date, preceding by not more than 50 clear days 60 days, or such other period as may be prescribed by the Regulations, the date for the payment of any dividend or the making of any distribution or date for the issue of any warrant or other evidence of the right to acquire subscribe for securities of the Corporation, as a record date for the determination of the persons entitled to receive payment of such dividend or distribution or to receive exercise the right to subscribe for such right. In every such case only the persons who are holders of record of the relevant shares at the close of business on the date so fixed shall be entitled to receive payment of such dividend or distribution or to receive such right. Notice securities, provided that notice of any such record date fixed shall be given, not less than 7 days before such record date, or such other period as may be prescribed by the board shall be given as and when required Regulations in the manner provided by the Act. Where no such record date is fixed by the boardso, the record date for the determination of the persons entitled to receive payment of such any dividend or distribution or to receive such exercise the right to subscribe for securities of the Corporation shall be at the close of business on the day on which the board passes the resolution relating theretoto such dividend or right to subscribe is passed by the Board.