COMPANIES ACT - 1963 (ACT 179)

    Section - 292 - Limitation on Liability of Shareholders in Public Companies to Restore Illegal Dividends

    If a public company pays a dividend in contravention of subsection (1) of section 71 of this Code, a shareholder therein shall not be liable to restore to the company any amount received by him in respect of such dividend if he shall show that, at the time when he received the same, he did not know that the payment contravened the subsection.