The Non-Resident Keralites' Welfare (Amendment) Act, 2019

(1) This Act may be called the Non-Resident Keralites' Welfare (Amendment) Act, 2019. (2) It shall be deemed to have come into force on the 22nd day of October, 2018.

In section 2 of the Non-Resident Keralites' Welfare Act, 2008 (10 of 2009) (hereinafter referred to as the principal Act),- after clause (g), the following clause shall be inserted, namely:— '(ga) "Dividend" means the share of profit on the invested amount, given to the investor by the agency who receives investments as per Non-Resident Keralites Dividend Scheme;'; after clause (m), the following clause shall be inserted, namely:— "(ma) "Non-Resident Keralites' Dividend Scheme" means the non-resident keralites' dividend scheme framed as per section 8A of the Act;".

(1) The Non-Resident Keralites Welfare (Amendment) Ordinance, 2019 (25 of 2019) is hereby repealed. (2) Notwithstanding such repeal, anything done or deemed to have been done or any action taken or deemed to have been taken under the principal Act as amended by the said Ordinance shall be deemed to have been done or taken under the principal Act as amended by this Act.

The Government may frame a scheme for deposits received from non-resident keralites and for giving a monthly dividend to the depositor consequent to the utilization of the same, in the manner determined by the Government, alongwith the share of Government. For the implementation of the scheme so framed and for other welfare activities of non-resident keralites, the Board may, with the prior approval of the Government setup institutions as per section 14.

In section 14 of the principal Act, after the words, figures and symbols "Co-operative Societies Act, 1969 (Act 21 of 1969)." the words, figures and symbols "the societies under the Travancore-Cochin Literary, Scientific and Charitable Societies Registration Act, 1955, (Act XII of 1955)." shall be inserted.