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REGISTERED No. D.221

The Gazette of India

EXTRAORDINARY

PART II—Section 1

PUBLISHED BY AUTHORITY

No. 16] NEW DELHI, SATURDAY MAY, 29,1965/JYAISTHA 8, 1887

Separate paging is given to this Part in order that it may be filed

as a separate compilation

MINISTRY OF LAW (Legislative Department) New Delhi, the 29th May, 1965/Jyaistha 8, 1887 (Saka)

THE PAYMENT OF BONUS ORDINANCE, 1965 No. 3 OF 1965 Promulgated by the President in the Sixteenth Year of the Republic of India. An Ordinance to provide for the payment of bonus to persons employed in certain establishments and for matters connected therewith.

WHEREAS Parliament is not in session and the President is satisfied that circumstances exist which render it necessary for him to take immediate action;

Now, THEREFORE, in exercise of the powers conferred by clause (1) of article 123 of the Constitution, the President is pleased to pro- mulgate the following Ordinance:—

1. (1) This Ordinance may be called the Payment of Bonus Ordinance, 1965.

(2) It extends to the whole of India except the State of Jammu

Short tide,

extent,

commence-

ment and

application.

and Kashmir.

163

(3) It shall come into force at once, (4) Save as otherwise provided, it shall apply to—

(a) every factory; and (b) every other establishment in which twenty or more persons are employed on any day during an accounting year, in respect of the accounting year commencing on any day in the year 1964, and in respect of every subsequent accounting year.

(5) An establishment to which this Ordinance applies under clause (b) of sub-section (4) shall continue to be governed by this Ordinance notwithstanding that the number of persons employed therein falls below twenty.

Definition!. 2. In this Ordinance, unless the context otherwise requires,—

(1) "accounting year" means—

(i) in relation to a corporation, the year ending on the day on which the books and accounts of the corporation are to be closed and balanced;

(li) in relation to a company, the period in respect of which any profit and loss account of the company laid before it in annual general meeting is made up, whether that period is a year or not;

(Hi) in any other case—

(a) the year commencing on the 1st day of April; or (b) if the accounts of an establishment maintained by the employer thereof are closed and balanced on any day other than the 31st day of March, then, at the option of the employer, the year ending on the day on which its accounts are so closed and balanced: Provided that an option once exercised by the employer under paragraph (b) of this sub-clause shall not again be exercised except with the previous permission in writing of the prescribed authority and upon such conditions as that authority may think fit; (2) "agricultural income" shall have the same meaning aa In the Income-tax Act;

(3) "agricultural income-tax law" means any law for the time being in force relating to the levy of tax on agricultural income;

(4) "allocable surplus" means-

fa) in relation to an employer, being a company (other than a banking company) which has not made the arrange- ments prescribed under the Income-tax Act for the declara- tion and payment within India of the dividends payable out of its profits in accordance with the provisions of section 194 of that Act, sixty-seven per cent, of the available surplus In an accounting year;

(b) in any other case, sixty per cent, of such available surplus,

and includes any amount treated as such under the first proviso to sub-section (1) of flection 34;

(5) "appropriate Government" means—-

14 of 1947.

(i) in relation to an establishment in respect of. which the appropriate Government under the Industrial Disputes Act, 1947, is the Central Government, .the Central Government;

(ii) in relation to any other establishment, the Govern- ment ol the State in which that other establishment; is situate; (6) ''available surplus⁷' means the available surplus comput-

ed under section 5;

14 of 1947.

(7) "award" means an interim or a final determination of any industrial dispute or ox any question relating thereto by any Labour Court, Industrial Tribunal or National Tribunal constitut- ed under the Industrial Disputes Act, 1947, or by any other authority constituted under any corresponding law relating to investigation and settlement of industrial disputes in force in a State and includes an arbitration award made under section 10A oi that Act or under that law;

10 of 1949.

38 of 1959.

(S) "banking company" means a banking company as defined in section 5 of the Banking Companies Act, 1949, and includes the State Bank of India, any subsidiary bank as defined in the State Bank of India (Subsidiary Banks) A'd, 1959, and any other banking institution which may be notified in this behalf by the Central Government;

1 of 1956.

(9) "company" means any company as defined in section 3 of the Companies Act, 1956, and includes a foreign company within the meaning of section 591 of that Act;

2 of 1912,

(10) "co-operative society" means a society registered or deemed to be registered under the Co-operative Societies Act, 1912, or any other law for the time being in force in any State relating to co-operative societies;

(11) "corporation" means any body corporate established by or under any Central, Provincial or State Act but does not include a company or a co-operative society;

(12) "direct tax" means—

(a) any tax chargeable under—

(i) the Income-tax Act;

(ii) the Super Profits Tax Act, 1963;

14 of 1963.

(iii) the Companies (Profits) Surtax Act, 1964;

7 of 1964.

(iv) the agricultural income-tax law; and

(b) any other tax which, having regard to its nature or incidence, may be declared by the Central Government, by notification In the Official Gazette, to be a direct tax for the purposes of this Ordinance;

(23) "employee" means any person (other than an apprentice) employed on a salary or wage not exceeding one thousand and six hundred rupees per mensem in any industry to do any skilled or unskilled manual, supervisory, managerial, administrative, technical or clerical work for hire or reward, whether the terms of employment be express or implied;

(14) "employer" includes—

63 of 1948.

(i) in relation to an establishment which is a factory, the owner or occupier of the factory, including the agent of such owner or occupier, the legal representative of a deceased owner or occupier and where a person has been named as a manager of the factory under clause (/) of sub-section (1) of section 7 of the Factories Act, 1D48, the person so named; and

(ii) in relation to any other establishment, the person who, or the authority which, has the ultimate control over the affairs of the establishment and where the said affairs are entrusted to a manager, managing director or managing agent, such manager, managing director or managing agent;

(15) "establishment in private sector" means any establish- ment other than an establishment in public sector;

(16) "establishment in public sector" means an establishment owned, controlled or managed by—

(a) a Government company as defined in section 617 of

1 of 1956.

the Companies Act, 1956;

(b) a corporation which is owned, controlled or managed by the Government or the Reserve Bank of India;

(c) a corporation in which not less than forty per cent, of its capital is held (whether singly or taken together) by—

(t) the Government; or

(u) the Reserve Bank of India; or

(Ui) a corporation owned by the Government or the Reserve Bank of India;

(17) "factory" shall have the same meaning as in clause (m) of section 2 of the Factories Act, 1948;

63 of 1948.

(18) "gross profits" means the gross profits calculated under section 4;

(19) "Income-tax Act" means the Income-tax Act, 1961;

43 of 1961.

(20) "prescribed" means prescribed by rules made under this Ordinance;

(21) "salary or wage" means all remuneration (other than remuneration in respect of over-time work) capable of being ex- pressed in terms of money, which would, if the terms of employ- ment, express or implied, were fulfilled, be payable to an employee in respect of his employment or of work done in such employ- ment and includes dearness allowance (that is to say, all cash payments, by whatever name called, paid to an employee on account of a rise in the cost of living), but does not include—

(i) any other allowance which the employee is for the time being entitled to;

(ii) the value of any house accommodation or of supply of light, water, medical attendance or other amenity or of any service or of any concessional supply of foodgrains or other articles;

(Hi) any travelling concession; (iv) any bonus (including incentive, production and attendance bonus);

(u) any contribution paid or payable by the employer to any pension fund or provident fund or for the benefit of the employee under any law for the time being in force;

(vi) any retrenchment compensation or any gratuity or other retirement benefit payable to the employee or any ex gratia payment made to him;

(vii) any commission payable to the employee.

Explanation.—Where an employee is given in lieu of the whole or part of the salary or wage payable to him, free food allowance or free food by his employer, such food allowance or the value of such food shall, for the purpose of this clause, be deemed to form part of the salary or wage of such employee;

14 of 1947.

(22) words and expressions used but not defined in this Ordinance and defined in the Industrial pisputes Act, 1947, shall have the meanings respectively assigned to them in that Act.

3. Where an establishment consists of different departments or undertakings or has branches, whether situated in the same place or in different places, all such departments or undertakings or branches shall be treated as parts of the same establishment for the purpose oi computation of bonus under this Ordinance:

Establish- mcntsTto include depart- ments, • undertakings and branches.

Provided that where for any accounting year a separate balance- sheet and profit and loss account are prepared and maintained in

respect of any such department or undertaking or branch, then, such department or undertaking or branch shall be treated as a separate establishment for the purpose of computation of bonus under this Ordinance for that year, unless such department or undertaking or branch was, immediately before the commencement of that account- ing year treated as part of the establishment for the purpose of computation of bonus.

¹ 4. The gross profits derived by an employer from an establishment Computation of gross profits. in respect of any accounting year shall—

(a) in the case of a banking company, be calculated in the

manner specified in the First Schedule;

(b) in any other case, be calculated in the manner specified

in the Second Schedule.

Computation of available surplus.

L 5. The available surplus in respect of any accounting year 3hall be the gross profits for that year after deducting therefrom the sums referred to in section 6,

6. The following sums shall be deducted from the gross profits as prior charges, namely: —

Sums deductible "rom groBs woflta.

(a) any amount by way of depreciation admissible in accord- ance with the provisions of sub-section (I) of section 32 of the Income-tax Act, or in accordance with the provisions of the agri- cultural income-tax law, as the case may be:

Provided that where an employer has been paying bonus to his employees under an award, settlement or agreement made before the commencement of this Ordinance and subsisting at such commencement after deducting from the gross profits notional normal depreciation, then, the amount of depreciation to be deducted under this clause shall, at the option of such employer (such option to be exercised once and within one year of the commencement of this Ordinance) continue to be such notional normal depreciation;

(b) any amount by way of development rebate or develop- ment allowance which the employer is entitled to deduct from his income under the Income-tax Act;

(c) subject to the provisions of section 7, any direct tax which the employer is liable to pay for the accounting year in respect of his income, profits and gains during that year;

(d) such further sums as are specified in respect of the employer in the Third Schedule.

Calculation of direct tax payttble by t h e^ omployer.

7. For the purpose of clause (c) of section 6, any direct tax payable by the employer for any accounting year shall, subject to the follow- ing provisions, be calculated at the rates applicable to the income of the employer for that year, namely: —

(a) in calculating such tax no account shall be taken of—

(7) any loss incurred by the employer in respect of any previous accounting year and carried forward under any law for the time being in force relating to direct taxes;

(it) any arrears of depreciation which the employer is entitled to add to the amount of the allowance for deprecia- tion for any following accounting year or years under sub- section (2) of section 32 of the Income-tax Act;

{in) any exemption conferred on the employer under sec-

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tion 84 of the Income-tax Act or of any deduction to which he is entitled under sub-section (1) of section 101 of that Act, as in force immediately before the commencement of the Finance Act, 1965;

(b) where the employer is a religious or a charitable institu- tion to which the provisions of section 32 do not apply and the whole or any part of its income is exempt from tax under the Income-tax Act, then, with respect to the income so exempted, such institution shall be treated as if it were a company in which the public are substantially interested within the meaning of that Act;

(c) where the employer is an individual or a Hindu undivided family, the tax payable by such employer under the Income-tax Act shall be calculated on the basis that the income derived by him from the establishment is his only income;

(d) where the income of any employer includes any profits and gains derived from the export of any goods or merchandise out of India and any rebate on such income is allowed under any law for the time being in force relating to direct taxes, then, no account shall be taken of such rebate;

(e) no account shall be taken of any rebate (other than deve- lopment rebate or development allowance) or credit or relief or deduction (not hereinbefore mentioned In this section) in the payment of any direct tax allowed under any law for the time

being in force relating to direct taxes or under the relevant annual Finance Act, for the development of any industry.

Eligibility for bonus.

8. Every employee shall be entitled to be paid by his employer in an accounting year, bonus, in accordance with the provisions of this Ordinance provided he has worked in the establishment for not less than thirty working days in that year.

Disqualifica- tion for bonus.

9. Notwithstanding anything contained in this Ordinance, an employee shall be disqualified from receiving bonus under this Ordi- nance, if he is dismissed from service for—

(a) fraud; or

(b) riotous or violent behaviour while on the premises of the establishment; or

(c) theft, misappropriation or sabotage of any property of the establishment.

Payment of minimum bonus.

10. Every employer shall be bound to pay to every employee who has worked in the establishment for all the working days in an accounting year a minimum bonus which shall be four per cent, of the salary or wage of the employee for the accounting year or forty rupees, whichever is higher, whether there are profits in the account- ing year or not:

Provided that where such employee has not completed fifteen years of age at the beginning of the accounting year, the provisions of this section shall have effect in relation to such employee as if for the words "forty rupees", the words "twenty-five rupees" were substituted.

Payment of maximum bonus.

11. (1) Where in respect of any accounting year the allocable surplus exceeds the amount of minimum bonus payable to the employees under section 10, the employer shall, in lieu of such mini- mum bonus, be bound to pay bonus to every employee who has work- ed in the establishment for all the working days in the accounting year which shall be an amount in proportion to the salary or wage of the employee for the accounting year subject to a maximum of twenty per cent, of such salary or wage.

(2) In computing the allocable surplus under this section, the amount set on or the amount set off under the provisions of section 15 shall be taken into account in accordance with the provisions of that section.

Calculation of bonus with res- pect to certain employees.

12. Where the salary or wage of an employee expects seven him dred and fifty rupees per mensem, the bonus payable to such employe^ under section 10 or, as the case may be, under section 11, shall bf calculated as if his salary or wage were seven hundred and fifty rupees per mensem.

Proportion- ate re- duction of bonus in certain cases- 13. Where an employee has not worked for all the working days in any accounting year, the amount of bonus to which he shall be entitled under section 10 or, as the case may be, under section 11, shall be proportionately reduced.

Computation of number of working days.

14. In computing for the purposes of sections 10 and 11 the number of days on which an employee has worked in an establishment in any accounting year, the days on which—

20 of 1946. 14 of 1947.

(a) he has been laid off under an agreement or as permitted by standing orders under the Industrial Employment (Standing Orders) Act, 1946, or under the Industrial Disputes Act, 1947, or under any other law applicable to the establishment;

(b) he has been on leave with salary or wage;

(c) he has been absent due to temporary disablement caused by accident arising out of and in the course of his employment; and

(d) the employee has been on maternity leave with salary or

wage,

during the accounting year shall be included.

Sec on and set off of flllocable surplus.

15. (1) Where for any accounting year the allocable surplus exceeds the amount of maximum bonus payable to the employees in the establishment under section 11, then, the excess shall, subject to a limit of twenty per cent, of the total salary or wage of the employees employed in the establishment in that accounting year, be carried forward for being set on in the succeeding accounting year and so on up to and inclusive of the fourth accounting year to be utilised for the purpose of payment of bonus in the manner illustrated in the Fourth Schedule.

(2) Where for any accounting year, there is no available surplus or the allocable surplus in respect of that year falls short of the amount of minimum bonus payable to the employees in the estab- lishment under section 10, and there is no amount or sufficient amount carried forward and set on under sub-section (1) which could be utilised for the purpose of payment of the minimum bonus, then, such minimum amount or the deficiency, as the case may be, shall be carried forward for bfing set off in the succeeding accounting year and 159 G of I Ex.—2.

so on up to and inclusive of the fourth accounting year in the manner illustrated in the Fourth Schedule.

(3) The principle of set on and set off as illustrated in the Fourth Schedule shall apply to all other cases not covered by sub-section (1) or sub-section (2) for the purpose of payment of bonus under this Ordinance.

(4) Where in any accounting year any amount has been carried for- ward and set on or set off under this section, then, in calculating bonus for the succeeding accounting year, the amount of set on or set off brought forward from the earliest accounting year shall first be taken into account.

Spc"al provisions with inspect t* certain •sttblish- menti.

16. (I) Where an establishment is newly set up, whether before or after the commencement of this Ordinance, the employees of such establishment shall be entitled to be paid bonus under this Ordin- ance only—•

(a) from the accounting year in which the employer derives profit from such establishment; or

(b) from the sixth accounting year following the accounting year in which the employer sells the products manufactured by him or renders services, as the case may be, from such establishment,

whichever is earlier:

Provided that nothing in this sub-section shall, save as otherwise provided in section 33, be construed as entitling the employees of any such establishment to be paid bonus in respect of any account- ing year prior to the accounting year commencing on any day in the year 1964.

Explanation I.—For the purpose of this section, an establishment shall not be deemed to be newly set up merely by reason of a change in its location, management, name or ownership.

Explanation It.—For the purpose of clause (a), an employer shall not be deemed to have derived profit in any accounting year unless—

(a) he has made provision for that year's depreciation to which he is entitled under the Income-tax Act or, as the case may be, under the agricultural income-tax law; and

(b) the arrears of such depreciation and losses incurred by him in respect of the establishment for the previous accounting years have been fully set off against his profits.

Explanation III.—For the purpose of clause (b), sale of the articles produced or manufactured during the course of the trial run of any

factory or of the prospecting stage of any mine or an oil-field shall not be taken into consideration and where any question arises with regard to such production or manufacture, the decision of the appro- priate Government, made after giving the parties a reasonable oppor- tunity of representing the case, shall be final and shall not be called in question by any court or other authority.

(2) The provisions of sub-section (1) shall, so far as may be, apply to new departments or undertakings or branches set up by existing establishments:

Provided that if an employer in relation to an existing establish- ment consisting of different departments or undertakings or branches (whether or not in the same industry) set up at different periods has, before the commencement of this Ordinance, been paying bonus to the employees of all such departments or undertakings or branches irrespective of the date on which such departments or undertakings or branches were set up, on the basis of the consolidated profits computed in respect of all such departments or undertakings or branches, then, such employer shall be liable to pay bonus in accordance with the provisions of this Ordinance to the employees of all such departments or undertakings or branches (whether set up before or after such commencement) on the basis of the consolidated profits computed as aforesaid.

17. Where in any accounting year—

(a) an employer has paid any puja bonus or other customary bonus to an employee; or

Adjustment of customiry or interim bonus against bonus pay- able under the Ordi- nance.

(b) an employer has paid a part of the bonus payable under this Ordinance to an employee before the date on which such bonus becomes payable,

then, the employer shall be entitled to deduct the amount of bonus so paid from the amount of bonus payable by him to the employee under this Ordinance in respect of that accounting year and the employee shall be entitled to receive only the balance.

Deduction of certain amounts from bonu* payable under the Ordinance.

18. Where in any accounting year, an employee is found guilty of misconduct causing financial loss to the employer, then, it shall be lawful for the employer to deduct the amount of loss from the amount of bonus payable by him to the employee under this Ordinance in respect of that accounting year only and the employee shall be entitled to recejy* the balance, if any.

19. All amounts payable to an employee by way ol bonus under Time-limit for payment of bonus, this Ordinance shall be paid in cash by his employer—

(a) where there is a dispute regarding payment of bonus pending before any authority under section 22, within a month of the settlement or award in respect of such dispute;

(b) in any other case, within a period of eight months from the close of the accounting year:

Provided that the appropriate Government or such authority as the appropriate Government may specify in this behalf may, upon an application made to it by the employer and for sufficient reasons, by order, extend the said period of eight months to such further period or periods as it thinks fit; so, however, that the total period so extended shall not in any case exceed two years.

Application of Ordinance to establish- ments in public sec- tor in certain cases.

20. (1) If in any accounting year an establishment in public sec- "tor sells any products manufactured by it or renders any services, in competition with an establishment in private sector, and the income from such sale or services or both is not less than twenty per cent, of the gross income of the establishment in public sector for that year, then, the provisions of this Ordinance shall apply in relation to such establishment in public sector as they apply in relation to a like establishment in private sector.

(2) An establishment in public sector to which this Ordinance applies shall continue to be governed by this Ordinance notwith- standing that in any subsequent accounting year its income from the sale of products manufactured by it or from services rendered or from both, in competition with an establishment in private sector, falls below twenty per cent, of its gross income for that accounting year.

21. Where any money is due to an employee by way of bonus from Recovery c{ bonus due from an employer.

his employer under a settlement or an award, the employee himself or any other person authorised by him in writing in this behalf, or in the case of the death of the employee, his assignee or heirs may, without prejudice to any other mode of recovery, make an application to the appropriate Government for the recovery of the money due to him, and if the appropriate Government or such authority as the appropriate Government may specify in this behalf is satisfied that any money is so due, it shall issue a certificate for that amount to the Collector who shall proceed to recover the same in the same manner as an arrear of land revenue:

Provided that every such application shall be made within one year from the date on which the money became due to the employee from the employer:

Provided further that any such application may be entertained after the expiry of the said period of one year, if the appropriate Government is satisfied that the applicant had sufficient cause for not making the application within the said period.

Explanation.—In this section and in sections 22, 23, 24 and 25, "employee" includes a person who is entitled to the payment of bonus under this Ordinance but who is no longer in employment.

Reference of disputes under the Ordinance.

14 of 1947.

22, Where any dispute or difference arises between an employer and his employees with respect to the calculation of bonus under this Ordinance or with respect to the application of this Ordinance to an establishment in public sector, then, such dispute shall be deemed to be an industrial dispute within the meaning of the Industrial Dis- putes Act, 1947, or of any corresponding law relating to investigation and settlement of industrial disputes in force in a State and the pro- visions of that Act or, as the case may be, such law, shall, save as otherwise expressly provided, apply accordingly.

14 of 1947.

Presumption about accu- racy of balance- sheet and profit and loss account of corpora- tions and companies.

(2) When an application is made to the said authority by any trade union being a party to the dispute or difference or where there is no trade union, by the employees being a party to the dispute or difference, requiring any clarification relating to any item in the balance-sheet or the profit and loss account, it may, after satisfying itself that such clarification is necessary, by order, direct the corpora- tion or, as the case may be, the company, to furnish to the trade union or the employees such clarification within such time as may be specified in the direction and the corporation or, as the case may be, the company, shall comply with such direction.

Audited accounts of banking companies aot to be questioned.

24. (1) Where any dispute or difference of the nature specified in section 22 between an employer, being a banking company, and its employees has been referred to the said authority under that section and during the course of proceedings the accounts of the banking company duly audited are produced before it, the said authority shall not permit any trade union or employees to question the correctness of such accounts, but the trade union or the employees may be permitted to obtain from the banking company such informa- tion as is necessary for verifying the amount of bonus due under this Ordinance.

10 of I9^t>.

(2) Nothing contained in sub-section (1) shall enable the trade union or the employees to obtain any information which the banking company is not compelled to furnish under the provisions of section 34A of the Banking Companies Act, 1949.

Audit of accounts of employers, not beinp corporations or compan- ies.

I of 1956.

25. (1) Where any dispute or difference of the nature specified in section 22 between an employer, not being a corporation or a company, and his employees has been referred to the said authority under that section and the accounts o£ such employer audited by any auditor duly qualified to act as auditor of companies under sub-section (I) of section 226 of the Companies Act, 1956, are produced before the said authority, the provisions of section 23, shall, so far as may be, apply to the accounts so audited.

(2) When the said authority finds that the accounts of such employer have not been audited by any such auditor and it is of opinion that an audit of the accounts of such employer is necessary for deciding the question referred to it, then, it may, by order, direct the employer to get his accounts audited within such time as may be specified in the direction or within such further time as it may allow by such auditor or auditors as it thinks fit and thereupon the employer shall comply with such direction.

(3) Where an employer fails to get the accounts audited under sub-section (2) the said authority may, without prejudice to the provisions of section 28, get the accounts audited by such auditor or auditors as it thinks fit.

(4) When the accounts are audited under sub-section (2) or sub- section (3) the provisions of section 23 shall, so far as may be, apply to the accounts so audited.

(5) The expenses of, and incidental to, any audit under sub-section (3) (including the remuneration of the auditor or auditors) shall be determined by the said authority (which determination shall be final) and paid by the employer and in default of such payment shall be recoverable from the employer in the manner provided in section 21.

Maintenanc e of registers, records, etc. 26. Every employer shall prepare and maintain such registers, records and other documents in such form and in such manner as may be prescribed.

Inspectors.

27. (1) The appropriate Government may, by notification in the Official Gazette, appoint such persons as it thinks fit to be Inspectors for the purposes of this Ordinance and may define the limits within which they shall exercise jurisdiction.

(2) An Inspector appointed under sub-section (I) may, for the purpose of ascertaining whether any of the provisions of this Ordinance has been complied with—

(a) require an employer to furnish such information as he may consider necessary;

(b) at any reasonable time, enter any establishment or any premises connected therewith and require any one found in charge thereof to produce before him for examination any accounts, books, registers and other documents relating to the employment of persons or the payment of salary or wage or bonus in the establishment;

(c) examine with respect to any matter relevant to any of the purposes aforesaid, the employer, his agent or servant or any other person found in charge of the establishment or any premises connected therewith or any person whom the Inspector has reasonable cause to believe to be or to have been an employee in the establishment;

(d) make copies of, or take extracts from, any book, register or other document maintained in relation to the establishment;

(p) exercise such other powers as may be prescribed.

(3) Eveiy Inspector shall be deemed to be a public servant within

45 of i860.

the meaning of the Indian Penal Code.

(4) Any peison required to produce any accounts, book, register or other document or thing or to give information by an Inspector under sub-section (1) shall be legally bound to do so.

IO •£ I94y.

(5) Nothing contained in this section shall enable an Inspector to require a banking company to furnish or disclose any statement or information or to produce, or give inspection of, any of its books of account or other documents, which a banking company cannot be compelled to furnish, disclose, produce or give inspection of, under the provisions of section 34A of the Banking Companies Act, 1949.

Penalty.

28. If any person—

(a) contravenes any of the provisions of this Ordinance or any rule made thereunder; or

(b) to whom a direction is given or a requisition is made under this Ordinance fails to comply with the direction or requisition,

he shall be punishable with imprisonment for a term which may extend to six months, or with fine which may extend to one thousand rupees, or with both.

Offences by companies.

29. (1) If the person committing an offence under this Ordinance is a company, every person who, at the time the offence was commit- ted, was in charge of, and was responsible to, the company for the conduct of business of the company, as well as the company, shall be deemed to be guilty of the offence and shall be liable to be proceeded against and punished accordingly:

Provided that nothing contained in this sub-section shall render any such person liable to any punishment if he proves that the offence was committed without his knowledge or that he exercised all due diligence to prevent the commission of such offence.

(2) Notwithstanding anything contained in sub-section (1), where an offence under this Ordinance has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or is attributable to any neglect on the part of, any director, manager, secretary or other officer of the company, such director manager, secretary or other officer shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly.

Explanation.—For the purposes of this section,—

(a) "company" means any body corporate and includes a firm or other association of individuals; and

(b) ''director", in relation to a firm, means a partner in the firm.

Cognizance of offences.

30. (1) No court shall take cognizance of any offence punishable under this Ordinance, save on complaint made by or under the authority of the appropriate Government.

(2) No court inferior to that of a presidency magistrate or a magis- trate of the first class shall try any offence punishable under this Ordinance.

Protection of action taken under the Ordi- nance.

31. No suit, prosecution or other legal proceeding shall lie against the Government or any officer of the Government for anything which is in good faith done or intended to be done in pursuance of this Ordinance or any rule made thereunder.

32. Nothing in this Ordinance shall apply to—

Ordinance not to apply to certain classes of employees (i) employees employed by any insurer carrying en general insurance business and the employees employed by the Life Insurance Corporation of India;

(ii) seamen as defined in clause (42) of section 3 of the Mer- chant Shipping Act, 1958;

44 of 1958.

9 of 1948.

(iii) employees registered or listed under any scheme made under the Dock Workers (Regulation of Employment) Act, 1948, and employed by registered or listed employers;

(iu) employees employed in an establishment engaged in any industry carried on by or under the authority of any department of the Central Government or a State Government or a local authority;

(u) employees employed by—

(a) the Indian Red Cross Society or any other institution of a Hke nature (including its branches);

(b) universities and other educational institutions; and

(c) institutions (including hospitals, chambers of com- merce and social welfare institutions) established not for purposes of profit;

("i) employees employed through contractors on building

operations;

159 G of I Ex—3-

(vn) employees—•

(a) who have entered before the commencement of this Ordinance into any agreement or settlement with their employers for payment of an annual bonus linked with pro- duction or productivity in lieu of bonus based on profits; or

(b) who may enter alter such commencement into any agreement or settlement with their employers for payment of such annual bonus in lieu of the bonus payable under this Ordinance,

for the period for which such agreement or settlement is in operation;

(viii) employees employed by the Reserve Bank of India;

(ir) employees employed by—

(a) the Industrial Finance Corporation of India;

63 of IQ5 1 (b) any Financial Corporation established under section 3, ov any Joint Financial Corporation established under sec- tion 3A, of the State Financial Corporations Act, 1951;

(c) the Deposit Insurance Corporation; (d) the Agricultural Refinance Corporation; (e) the Unit Trust of India; and (/) the Industrial Development Bank of India;

(.r) employees employed in any establishment in public sec- tor, save as otherwise provided in this Ordinance.

Ordinance to apply to certain pending disputes regarding payment of bonus.

14 of I9J7 33. Where immediately before the 2nd September, 1964, any industrial dispute regarding payment of bonus relating tc any account- ing year ending on any day in the year 1962, and any subsequent accounting year was pending before the appropriate Government or before any Tribunal or other authority constituted under the Indus- trial Disputes Act, 1947, or under any corresponding law relating to investigation and settlement of industrial disputes in a State, such dispute shall be decided in accordance with the provisions of this Ordinance.

Explanation.—A dispute shall be deemed to be pending before the appropriate Government where no decision of that Government on any application made to it under the said Act or such corresponding law for reference of that dispute to adjudication has been made or where having received the report of the Conciliation Officer (by whatever designation known) under the said Act or law, the appropriate Government has not passed any order refusing to make such reference.

Effect of laws and agreement* inconsistent with the Ordinance.

34. (1) Save as otherwise provided, the provisions of this Ordi- nance shall have effect notwithstanding anything inconsistent there- with contained in any other law for the time being in force or in the terms of any award, agreement, settlement or contract of service made before the commencement of this Ordinance:

Provided that if in respect of any accounting year the total bonus payable to all the employees in any establishment under this Ordi- nance is less than the total bonus paid or payable to all the employees in that establishment in the base year under such award, agreement, settlement or contract of service, then, the employees in the estab- lishment shall be paid bonus in respect of that accounting year as if the allocable surplus for that accounting year were an amount which bears the same ratio to the gross profits of the said accounting year as the total bonus paid or payable in the base year bears to the gross profits of the base year:

Provided further that nothing contained in the preceding proviso shall entitle any employee to be paid bonus exceeding twenty per cent, of his salary or wage for the accounting year:

Provided also that if in any accounting year the allocable surplus computed under the first proviso exceeds the amount of maximum bonus payable to the employees in the establishment under the second proviso, then, the provisions of section 15 shall, so far as may be, apply to such excess.

Explanation I.—For the purpose of the first proviso to this sub- section, the total bonus in respect of any accounting year shall be deemed to be less than the total bonus paid or payable in the base year if the ratio of bonus payable in the accounting year to the gross profits of that year is less than the ratio of bonus paid or payable in the base year to the gross profits of that year.

Explanation H.—In this sub-section,—

(a) "base year" means—

(i) in a case where immediately before the 2nd Septem- ber, 1964, any dispute of the nature specified in section 33 was pending before the appropriate Government or before any Tribunal or other authority referred to in that section, the accounting year immediately preceding the accounting year to which the dispute relates;

(ii) In any other case, the period of twelve months imme- diately preceding the accounting year in which this Ordi- nance becomes applicable to the establishment;

(b) "gross profits" in relation to the base year or, as the case may be, to the accounting year means gross profits as reduced by the direct taxes payable by the employer in respect Of that year,

(2) Nothing contained in this Ordinance shall be construed to preclude employees employed in any establishment or class of establishments from entering into agreement with their employer for granting them an amount of bonus under a formula which is different from that undei this Ordinance.

Saving.

35. Nothing contained in this Ordinance shall be deemed to affect ihe provisions of the Coal Mines Provident Fund and Bonus Schemes Act, 1948, or of any scheme made thereunder.

46 of 1948.

Power of exemption.

36. If the appropriate Government, having regard to the financial position and other relevant circumstances of any establishment or class of establishments, is of opinion that it will not be in public interest to apply all or any of the provisions of this Ordinance thereto, it may, by notification in the Official Gazette, exempt for such period as may be specified therein and subject to such conditions as it may think fit to impose, such establishment or class of estab- lishments from all or any of the provisions of this Ordinance.

Power to remove difficulties.

37. If any difficulty or doubt arises in giving effect to the provisions of this Ordinance, the Central Government may, by order published in the Official Gazette, make such provision, not inconsistent with the purposes of this Ordinance as appears to it to be necessary or expedient for the removal of the difficulty or doubt; and the order of the Central Government, in such cases, shall be final.

38. (1) The Central Government may make rules for the purposes Power to make rules.

of carrying into effect the provisions of this Ordinance.

(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for—

(a) the authority for granting permission under the proviso to sub-clause (Hi) of clause (1) of section 2;

(b) the preparation of registers, records and other documents and the form and manner in which such registers, records and documents may be maintained, under section 26;

(c) the powers which may be exercised by an Inspector under sub-section (2) of section 27;

(d) any other matter which is to be, or may be prescribed.

14 of 1947.

Application

of certain

laws not

barred.

39. Save as otherwise expressly provided, the provisions of this Ordinance shall be in addition to and not in derogation of the Indus- trial Disputes Act, 1947, or any corresponding law relating to inves- tigation and settlement 01 industrial disputes in force in a State.

THE FIRST SCHEDULE

[See section 4 (a)]

COMPUTATION OF GROSS PROFITS

Accounting Year ending

Amount of Remarks main Items

Particulars Amount of sub-items

Item No.

Rs.

Rs,

* i. Net Profit as shown in the Profit and Loss Account after making usual and necessary pro- visions.

2. Add back provision for :

(a) Bonus.

(b) Depreciation.

See foot-note (1) (c) Development Rebate

Reserve.

(d) Any other reserves.

See foot-note (1)

Total of Item No. 2 Rs.

Add back also :

3-

See foot-note (1) (a) Bonus paid in respect of previous account- ing years.

(6) Donations in excess of the amount admis- sible for income-tax.

*Where the profit subject to taxation is shown in the Profit and Loss Account and the provision made for taxes on income is shown, the actual provision for taxes on income shall be deducted from the profit.

Particulars

Remarks Item No.

Amount of

sub-items

Amount of main Items

Rs.

Rs.

See foot-note (1) (c) Capital expenditure (other than capital expenditure on scien- tific research which is allowed as a deduction under any law for the time being in force relating to direct taxes) and capital losses (other than losses on sale of capital assets on which depreciation has been allowed for income-tax).

id) Any amount certified by the Reserve Bank of India in terms of sub-section {2) of section 34A of the Banking Companies Act, 1949-

jo Ofi94"

(e) Losses of, or expen- diture relating to, any business situated outside India.

Total of Item No. 3 Rs.

A-

Add also Income, plants or gains (if any) credited directly to published/or disclosed reserves, other than—

(") capital receipts^and capital profits (in- cluding profits} on the sale of capital

1 Particulars

Remarks

Amount of main Items

Amount of

sub-items

Itcn No.

Rs.

Rs.

assets on which de- preciation has not been allowed for income-tax) ;

(it) profits of, and re- ceipts relating to, any business situat- ed outside India ;

(tit) income of foreign

banking companies from investments outside India.

Net total of Item No. 4 : Rs.

Total of Item Nos. 1, 2, 3

5-

and 4.

Rs.

Deduct :

6.

See foot-note (2) (a) Capital receipts and capital profits (other than profits on the sale of assets on which depreciation has been allowed for income-tax).

See foot-note (2) (b) Profits of, and re- ceipts relating to, any business situated outside India.

See foot-note (2) (c) Income of foreign banking companies from investments outside India.

(d) Expenditure or losses (if any) debited di- rectly to published or disclosed reserves, other than—

(i) capital expen- diture and capi- tal losses (other

Remarks Item No.

Particulars Amount of sub-items

Amount of main Items

Rs.

Rs.

than losses on sale of capital assets on which depre- ciation has not been allowed for income-tax) ; (";") losses of any business situated outside India.

See foot-note (3) (e) In the case of foreign banking com- panies proportionate administrative (over- head) expenses of Head Office alloca- ble to Indian busi- ness.

See foot-note (2) (J) Refund of any excess direct tax paid for previous accounting years and excess pro- vision, if any, of previous accounting yearsj relating to bonus, depreciation, or development re- bate, if written back.

See foot-note (2) (g) Subsidy, if any, re- ceived from Govern- ment or from any body corporate es- tablished by any law for the time being in force.

Rs.

Total of Item No. 6

7-

Rs.

Gross Profits for purposes of bonus (Item No. 5 minus Item No. 6).

Foot-notes—

(1) If, and to the extent, charged to Profit and Loss Account. (2) If, and to the extent, credited to Profit and Loss Account. (3) In the proportion of Indian Gross Profit (Item No. 7) to Total World Gross Profit (a3 per consolidated Profit and Loss Account, adjusted as in Item No. 2 above only).

THE SECOND SCHEDULE

[See section 4 (6)]

COMPUTATION OF GROSS PROFITS

Accounting Year ending

J Particulars

Remarks

Amount of

sub-items

Amount of main Items

Item No.

Rs.

Rs.

1 Net Profit as per Profit and

Loss Account.

2. Add back provision for :

(a) Bonus.

(Jb) Depreciation.

(c) Direct taxes, includ- ing the provision (if any) for previous accounting years;

See foot-note (1) (d) Development rebate/ Development allow- ance reserve.

See foot-note (1) (e) Any other reserves.

Is.

Total of Item No. 2 I

Add back also :

3-

See foot-note (1) (a) Bonus paid in respect of previous account- ing years.

(fc) Donations in excess of the amount admis- siblefor income-tax.

(c) Any annuity due, or commuted value of any annuity paid, under the provisions of section 280D of the Income-tax Act dur- ing the accounting year.

Remarks Particulars

Item No.

Amount of

sub-items

Amount of main Items

Rs.

Rs.

(dyCapital expenditure

See foot-note (i) (other fthan capital expenditure on scientific research which is allowed as'a deduction under any law for the time being in force relating to direct taxes) and capita] losses (other than losses on sale"of capital assets 'on which depreciation has been allowed for income-tax or agri- cultural income-tax).

(e) Losses of, or expen- diture relating to, any business situated outside India.

*s.

Totalof Item No. 3 ]

4- Add also Income, profits or gains (if any) credited directly to reserves, other than—

(t) capital receipts and capital profits (including profits on the sale of capi- tal assets on which depreciation has not been allowed for income-tax or agricultural income- tax);

(") profits of, and re- ceipts relating to, any business situa- ted outside India;

Remarks

Particulars A

Amount of main Items

mount of

sub-items

Item [No.

Rs.

Rs.

(HI) income of foreign concerns from investments outside India.

Rs.

Net total of Item No. 4

Total of Item Nos. 1, 2,

5-

Rs.

3 and 4.

Deduct :

6.

See foot-note (2) (a) Capital receipts and capital profits (other than profits on the sale of assets on which depreciation has been allowed for income-tax or agri- cultural income-tax).

See foot-note (2) (b) Profits of, and receipts relating to, any business situated outside India.

See foot-note (2) (c) Income of foreign concerns from invest- ments outside India.

(d) Expenditure or losses (if any) de- bited directly to reserves, other than—

i

(z) capital expendi- ture and capital losses (other than losses on sale of capital assets on which depre- ciation has not been allowed for

Particulars

Remarks

Amount of

sub-items

Amount of main Items

Item No.

Rs.

Rs.

income-tax or agricultural in- come-tax) ;

(it) losses of any business situated outside India.

See foot-note (3) (e) ~_Jn the case of foreign

"concerns proportion- ate administrative (overhead) expenses of Head Office allo- cable to Indian busi- ness.

See foot-note (2) (/) Refund of any direct tax paid for previous accounting years and excess provision, if any, of previous ac- counting years relat- ing to bonus, depre- ciation, taxation or development rebate or development al- lowance, if written back.

(g) Subsidy, if any, re- ceived from Govern- ment or from any body corporate es- tablished by any law for the time being in force.

Total of Item No. 6 . Rs.

7- (

Rs.

Gross Profits^for purposes of bonus (Item No. 5 minus Item No. 6).

Foot-notes— (1) If, and to the extent, charged to Profit and Loss Account. (2) If, and to the extent, credited to Profit and Loss Account. (3) In the proportion of Indian Gross Profit (Item No. 7) to Total World Groa Profit (as per consolidated Profit and Loss Account, adjusted as in Item No. above only).

THE THIRD SCHEDULE

[See section 6 (d)~\

Further sums to be deducted

Category of employer

Item No.

1 (2)

(3)

(I]

i. Company, other than a banking company.

(i) The dividends payable on its preference share capital for the accounting year calculated at the actual rate at which such dividends are payable ;

(tt) 8-5 per cent, of its paid up equity share capital as at the com- mencement of the accounting year;

(fit¹) 6 per cent, of its reserves shown in its balance-sheet as at the commencement of the accounting year, including any profits carried forward from the previous ac- counting year :

1 of 1956.

Provided that where the employer is a foreign company within the mean- ing of section 591 of the Companies Act, 1956, the total amount to be 3 deducted under this Item shall be 8-5 per cent, on the aggregate of the value of the net fixed assets and the current assets of the company in India after deducting the amount of its current liabilities (other than any amount shown as payable by the company to its Head Office whether towards any advance made by the Head Office or otherwise or any interest paid by the company to its Head Office) in India.

2. Banking company

(i) The dividends payable on its preference share capital for the accounting year calculated at the rate at which such dividends are payable ;

(it) 7-5 per cent, of its paid up equity share capital as at the commencement of the accounting year ;

Category of employer Further sums to be deducted

Item No.

(1)

(3)

(2)

(in) 5 per cent, of its reserves shown in its balance-sheet as at the commencement of the accounting year, including any profits carried forward from the previous accoun- ting year ;

(iv) any sum which, in respect of the accounting year, is transferred by it—

(a) to a reserve fund under sub- section (/) of section 17 of the Banking Companies Act, 1949 ; or

10 of 1949,

(b) to any reserves in India in pursuance of any direction or advice given by the Reserve Bank of India,

whichever is higher :

1 of 1-J56.

Provided that where the banking com- pany is a foreign company within the meaning of section 591 of the Companies Act, 1956, the amount to be deducted under this Item shall be the aggregate of—

("') the dividends payable to its preference shareholders for the accounting year at the rate at which such dividends are payable on such amount as bears the same proportion to its total pre- ference share capital as its total working funds in India bear to its total world working funds ;

(ii) 7 • 5 per cent, on such amount as

bears the same proportion to its total paid up equity share capital as its total working funds in India bear to its total world working funds ;

(tit) 5 per cent, on such amount a bears the same proportion to its total disclosed reserves as its total working funds in India bear to its total world working funds;

Further sums to'^be deducted

Category of employer

Item No.

(3)

(2)

M

ic of 1949.

(iv) any sum which, in respect of the accounting year, is deposited by it with the Reserve Bank of India under sub-clause (M) of clause (b) of sub-section (2) of section 11 of the Banking Companies Act, 1949, not exceeding the amount required under the aforesaid provision to be so deposited.

Corporation

3-

(i) 8-5 per cent, of its paid up capital as at the commencement of the accounting year ;

(ii) 6 per cent, of its reserves, if any, shown in its balance-sheet as at the commencement of the accounting year, including any profits carried forward from the previous accounting year.

Co-opei alive society

CO 8 • 5 per cent, of the capital invested 4-

by such society in its establish- ment as evidenced from its books of accounts at the commencement of the accounting year ;

(ii) such sum as has been carried forward in respect of the accounting year to a reserve fund under any law relating to co-operative societies for the time being in force.

5- Any other employer not falling under any of the^aforesaid categories.

8-5 per cent, of the capital invested by him in his establishment as evidenced from his books of accounts at the commencement of the accounting year :

Provided that where such employer is a person to whom Chapter XXIIA of the Income-tax Act applies, the annuity deposit payable by him under the provisions of that Chapter during the accounting year shall also be deducted :

Category of employer Further sums to be deducted Item No.

( i)

(3)

(2)

Provided further that where such employer is a firm, an amount equal to 25 per cent, of the gross profits derived by it from the establishment in respect of the accounting year after deducting depreciation in accordance with the provisions of clause (a) of section 6 by way of remuneration to all the partners taking part in the conduct of business of the establishment shall also be deducted, but where the partnership agreement, whether oral or written, provides for the payment of re- muneration to any such partner, and—

(i) the total remuneration payable to all such partners is less than the said 25 per cent., the amount payable, subject to a maximum of forty-eight thousand rupees to each such partner ; or

(ii) the total remuneration payable to all such partners is higher than the said 25 per cent., such per- centage, or a sum calculated at the rate of forty-eight thousand rupees to each such partner, whichever is less,

shall be deducted under this proviso : Provided also that where such em- ployer is an individual or a Hindu undivided family,— (t')Jan amount equal to 25 per cent, of the gross profits derived by such employer from the establish- ment in respect of the accounting year after deducting depreciation in accordance with the provisions of clause (a) of section 6^i or

(")J?forty-elght thousand rupees,

whichever is less, by way of re- muneration to such employer, shall also be deducted.

Item No. Category of employer

Further sums to be deducted

(3)

(i) W

In addition to the sums deductible under any of the aforesaid Items, such sums as are required to be appropriated by the licensee in res- pect of the accounting year to a reserve under the Sixth Schedule to that Act shall also be deducted. f4 of 1948 6. Any employer falling with- in Item No. 1 or Item No. 3 or Item No. 4 or Item No. 5 being a lice- nsee within the meaning of the Electricity Supply Act, 1948.

Explanation.—The expression "reserves" occurring in column (2) against Item Nos. l(tii), 2(iii) and 3(ii) shall not include any amount set apart for the purpose of—

(i) payment of any direct tax which, according to the balance-sheet, would be payable;

(ii) meeting any depreciation admissible in accordance with the provisions of clause (a) of section 6;

(iii) payment of dividends which have been declared,

but shall include—•

(a) any amount, over and above the amount referred to in clause (i) of this Explanation, set apart as specific reserve for the purpose of payment of any direct tax; and

(b) any amount set apart for meeting any depreciation in excess oi the amount admissible in accordance with the provisions of clause (a) of section 6.

THE FOURTH SCHEDULE

(See section 15)

In this Schedule, the total amount of bonus equal to four per cent, of the annual salary or wage payable to all the employees is assumed to be Rs. 50,000, Accordingly, the maximum bonus to which all the employees are entitled to be paid (twenty per cent, of the annual salary or wage of all the employees) would be Rs. 2,50,000.

Year

Amount payable as bonus

Total set on or set off carried forward

Set on or set off of the year carried forward

Amount equal to sixty per cent, or sixty- seven per cent., as the case may be, of available surplus allocable as bonus

(2)

(4)

(5) ( i)

(3)

Rs. of (year) Rs.

Rs. 70,000

1.

2,50,000*

2.

70,000 6,35,000

Rs. Nil Set on 2,50,000*

Nil Set on 2,50,000 (2)

Year

Amount payable as bonus

>

Total set on or set off carried forward

Set on or set off of the year carried forward

Amount equal to sixty per cent, or sixty- seven per cent, as the case may be, of available surplus allocable as bonus

( 2)

(0

(3)

(5)

(4)

Rs.

Rs.

Rs.

Rs. of (year)

2,20,000

2,50,000*

Set on

3-

Nil

¹2,20,000 (2)

2)

(inclusive of 30,000 from year-:

2,50,000

3,75^ooo

Set on

4-

Set on 1,25,000 2,20,000 (2) f 1,25,000 (4)

1,40,000

5-

Set on

Nil

DO

2,50,000* (inclusive of I,io,o(

from year-2)

1,10,000 (2) 1,25,000 (4)

6

3,10,000

2,50,000*

Set on

Set on 60,000

1,00,000

7-

Nilf (2) 1,25,000 (4} 60,000 (6) Set on (6)

Nit

2,50,000* (inclusive of

35,000

ir-4

1,25,000 from yet

and 25,000 from

year-6)

8.

50,000**

Set off Set off

Nil (due to loss)

15,000

(inclusive of 35,000

15,000 (8)

from year-6)

10,000

50,000**

9-

Set off Set off

40,000 15,000 (S) 40,000 (9)

1 0.

2,15,000

1,60,000

Nil

Nil

(after setting off

15,000 from year-8 and 40,000 from year-9)

NOTES— *Maximum. fThe balance of Rs. 1,10,000 set on from year-2 lapses. **Minimum.

S. FADHAKRISHNAN,

President.

R. C. S. SARKAR, Secy, to the Govt. of India.

CORRIGENDUM

In the Gazette of India Extraordinary, Part II—Sec. 1 bearing No- 15 dated 24th May, 1965 under Ministry of Law the undernoted amendments may be made: —

On page 161, in eighth line for "MENT) BILL, 1965" read "MENT) ACT, 1965".

On page 162, in the last line, for "Secretary" read "Secy, to the Govt. of India".

[

On page 162, in the margin, fourth line, jor "Act of 43" read "Act 43".

PRINTED IN INDIA, BY THE GENERAL MANAGER, GOVERNMENT OF INDIA PRESS. MINTO ROAD, NEW DELHI AND PUBLISHED BY THE MANAQEH OF PUBLICATIONS, DELHI,

1966

LSI—159 G of I Ex,—1-6-65—G747.