Question
Section 123 of the Companies Act 2013 mentions about declaration of dividend, identify the correct statements regarding the provisions of the section. 1. Dividend shall be declared or paid by a company out of the profits of the company for that year arrived at after providing for depreciation. 2. Dividend shall be declared or paid by a company out of out of money provided by the Central Government or a State Government for the payment of dividend by the company in pursuance of a guarantee given by that Government. 3. No dividend shall be declared or paid by a company from its reserves other than free reserves. 4. The Board of Directors of a company can't declare interim dividend during any financial year. 5. The amount of the dividend, including interim dividend, shall be deposited in a scheduled bank in a separate account within five days from the date of declaration of such dividend. 6. No dividend shall be paid by a company in respect of any share therein except to the registered shareholder.
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