AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    

The Bird and Company Ltd. (Acquisition and Transfer of Undertakings and other Properties) Act, 1980

14. Payment by the Central Government to the Commissioner.-

(1) The Central Government shall, within thirty days from the specified date, pay, in cash, to the Commissioner, for payment to the Company the amounts specified in section 8.

(2) A deposit account shall be opened by the Central Government in favour of the Commissioner, in the Public Account of India, and every amount paid under this Act to the Commissioner shall be deposited by him to the credit of the said deposit account and the said deposit account shall be operated by the Commissioner.

(3) Records shall be maintained by the Commissioner in respect of the undertakings of the Company and the shares held by it in the specified companies, in relation to which payment has been made to him under this Act.

(4) The interest accruing on the amount standing to the credit of the deposit account referred to in sub-section (2) shall enure to the benefit of the Company.



Bird and Company Ltd. (Acquisition and Transfer of Undertakings and other Properties) Act, 1980 Back




Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered and driven by neosys