law: Preference Shares (Regulation of Dividends) Act, 1960
  5. Overriding effect of Act
  (1) The provision of this Act shall have effect notwithstanding
  
  anything to the contrary contained in any law for the time being in force or in
  
  the memorandum or articles of a company or in any agreement between the company
  
  and its shareholders or in any resolution passed by the company in a general
  
  meeting or by its Board of directors.
  (2) Notwithstanding anything contained in this Act, a company
  
  may, in the manner provided in section 106 of the Companies Act, increase the
  
  amount of dividend in respect of a preference share beyond the limit specified
  
  in section 3 or section 4 of this Act.