The Preference Shares (Regulation of Dividends) Act, 1960

The Preference Shares (Regulation of Dividends) Act, 1960 was enacted to regulate the payment of dividends on preference shares issued by companies. The act specifies the maximum rate of dividend that can be paid on preference shares and the conditions under which such dividends can be paid. The act also provides for the payment of unpaid dividends on preference shares in certain cases. The act is applicable to all companies that issue preference shares, including private and public companies.