04-22-2010, 11:56 PM
The CO 84 requies that for every dividend payment by a company, a seperate bank account should be maintained and this amount should not be used at all for company's normal operations.
my issue is that. if a well established compamy, who is giving dividend one or more every year.
whether every time, company declares the dividend, should open a new account ( or may park the amount in the bank account already opened for earlier dividend paymnets.
if the comany has to open a new account every time, then for what time it should be maintiend.
furhter, if a company is opening a new account every time of payment of new dividend then after some month months close that bank account and maintain the list of unclaimed dividned. is it complyiong with the requirements of CO 84.
Please guide me with complete refernces of all the laws involved.
Regards,
my issue is that. if a well established compamy, who is giving dividend one or more every year.
whether every time, company declares the dividend, should open a new account ( or may park the amount in the bank account already opened for earlier dividend paymnets.
if the comany has to open a new account every time, then for what time it should be maintiend.
furhter, if a company is opening a new account every time of payment of new dividend then after some month months close that bank account and maintain the list of unclaimed dividned. is it complyiong with the requirements of CO 84.
Please guide me with complete refernces of all the laws involved.
Regards,
