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(1) For the deprivation of the proprietors of the management of their under taking (which has remained closed with effect from the 17th May 1979 to the 22nd August 1980) during the period commencing on the 23rd August 1980 being the date on which the undertaking was taken over in pursuance of the Orders made by the Central Government under the provisions of the Industries (Development and Regulation) Act, 1951 (LXV of 1951) and ending on the appointed day, there shall be paid by the State Government to the proprietors in cash and in the manner specified in Chapter VI, an amount of rupees five thousand per annum. (2) The amounts specified in section 7 shall carry simple interest at the rate of four per cent per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made by the State Government to the Commissioner. (3) The amount specified in sub-section (1) and the amount determined in accordance with the provisions of sub-section (2) shall be given by the State Government to the proprietors in addition to the amount specified in section 7. (4) For the removal of doubts, it is hereby declared that the liabilities of the proprietors in relation to their undertaking which has vested in the State Government under section 3 shall be discharged from the amounts specified in section 7, and also from the amount specified in sub-section (1) and the amount determined under sub-section (2), in accordance with the rights and interests of the creditors of the proprietors.
<span style="margin-left:15px;"></span>(<i>1</i>) For the deprivation of the proprietors of the management of their under taking (which has remained closed with effect from the 17<sup>th</sup> May 1979 to the 22<sup>nd</sup> August 1980) during the period commencing on the 23<sup>rd</sup> August 1980 being the date on which the undertaking was taken over in pursuance of the Orders made by the Central Government under the provisions of the Industries (Development and Regulation) Act, 1951 (LXV of 1951) and ending on the appointed day, there shall be paid by the State Government to the proprietors in cash and in the manner specified in Chapter VI, an amount of rupees five thousand per annum.<br> <span style="margin-left:15px;"></span>(<i>2</i>) The amounts specified in section 7 shall carry simple interest at the rate of four per cent per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made by the State Government to the Commissioner.<br> <span style="margin-left:15px;"></span>(<i>3</i>) The amount specified in sub-section (<i>1</i>) and the amount determined in accordance with the provisions of sub-section (<i>2</i>) shall be given by the State Government to the proprietors in addition to the amount specified in section 7.<br> <span style="margin-left:15px;"></span>(<i>4</i>) For the removal of doubts, it is hereby declared that the liabilities of the proprietors in relation to their undertaking which has vested in the State Government under section 3 shall be discharged from the amounts specified in section 7, and also from the amount specified in sub-section (<i>1</i>) and the amount determined under sub-section (<i>2</i>), in accordance with the rights and interests of the creditors of the proprietors.<br> <br>