Lawgist16Payment 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, an amount equal to the amount specified in section 8 and the amounts payable to the Company under section 9.
(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) The interests 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.
Download our fully-offline, High speed android app.- Click here
- 15 Appointment of Commissioner of Payments
- 16 Payment by the Central Government to the Commissioner
- 17 Certain powers of the National Textile Corporation
- 18 Claims to be made to the Commissioner
- 19 Priorities of claims
- 20 Examination of claims
- 21 Admission or rejection of claims
- 22 Disbursement of money by the Commissioner to claimants
- 23 Undisbursed or unclaimed amount to be deposited with the general revenue account
