6.
13
(b) Shareholders retained right to a minimum
royalty of 8% per annum and to whole of furt.
net profits up to 12% per annum.
Maximum
limit on dividends of 15% per annum was
removed, but the disposal of the remaining
half of net profits exceeding 12, was left
to the discretion of the directors who need
not necessarily distribute it as dividends.
lost their rights to a
(c) Subscribers,
reduction of rates when net profits rose
above 12%.
llo information is available regarding the working
of the 1940 arrangements,
COLONIAL ON ICE
FINANCE DEPARTMENT,
20th May, 1947.