Lawgist23Disbursement of amounts to the Company
(1) If, out of the moneys paid to him, in relation to the undertakings of the Company, there is a balance left after meeting the liabilities as specified in the Schedule, the Commissioner shall disburse such balance to the Company.
(2) Where the possession of any machinery, equipment or other property has vested in the Central Government or a Government company under this Act, but such machinery, equipment or other property does not belong to the Company, it shall be lawful for the Central Government or the Government company to continue to possess such machinery or equipment or other property on the same terms and conditions under which they were possessed by the Company immediately before the appointed day.
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- 15 Appointment of Commissioner of Payments
- 16 Payment by Central Government to the Commissioner
- 17 Certain powers of the Central Government or Government company
- 18 Claims to be made to the Commissioner
- 19 Priority of claims
- 20 Examination of claims
- 21 Admission or rejection of claims
- 22 Disbursement of money by the Commissioner
- 23 Disbursement of amounts to the Company
- 24 Undisbursed or unclaimed amount to be deposited with the general revenue account
