British India Corporation Limited (Acquisition of Shares) Act : APPOINTMENT OF COMMISSIONER OF PAYMENTS

British India Corporation Limited (Acquisition of Shares) Act,1981

Act No : 29

Section : APPOINTMENT OF COMMISSIONER OF PAYMENTS

SECTION 06: APPOINTMENT OF COMMISSIONER OF PAYMENTS

(1) The Central Government shall, for the purpose of disbursing the amounts payable to shareholders of the Company under section 5-, by notification, appoint a Commissioner of Payments.

(2) The Central Government may appoint such other persons as it may think fit to assist the Commissioner and thereupon the Commissioner may authorise one or more of such persons also to exercise all or any of the powers exercisable by him under this Act, and different persons may be authorised to exercise different powers.

(3) Any persons authorised by the Commissioner to exercise any of the powers exercisable by the Commissioner may exercise those powers in the same manner and with the same effect as if they have been conferred on that person directly by this Act, and not by way of authorisation

(4) The salaries and allowances of the Commissioner and other persons appointed under ibis section shall be defrayed out of the Consolidated Fund of India.