Plz answer

I didn't get you specify the point which you want to ask.....

plz interpret

Proviso must be interpret with the context of the main section. Section 123(5) provides that no dividend shall be paid to:
unregistered shareholder
not payable except in cash
Proviso creates an exception to this rule and provides that:
Companies may issue fully paid up bonus issue (general rule is that no dividend payable except in cash)
Payment of unpaid amount on any shares
I hope now you will understand the crisp of section123(5)

thank