Special Court (Trial of Offences Relating to Transactions in Securities) Act,1992
Act No : 27
Section :
Discharge of liabilities.
11. Discharge of liabilities. (1) Notwithstanding anything contained in the Code. and any other law for the time being in force, the Special Court may make such order as it may deem fit directing the Custodian for the disposal of the property under attachment. (2) The following liabilities shall be paid or discharged in full, as far as may be, in the order as under:- (a) all revenues, taxes, cesses and rates due from the persons notified by the Custodian under sub-section (2) of section 3 to the Central Government or any State Government or any local authority; (b) all amounts due from the person so notified by the Custodian to any bank or financial-institution or mutual fund; (c) any other liability as may be specified by the. Special Court from time to time. 11A. Power to punish for contempt. The Special Court shall have, and exercise, jurisdiction, powers and authority in respect of contempt of a High Court has and may exercise and, for this purpose, the provisions of the Contempt of Courts Act, 1971, shall have effect subject to the modifications that- (a) the references therein to a High Court shall be construed as including a reference to such Special Court; (b) the references to the Advocate-General in section 15 of the said Act, shall be construed, in relation to the Special Court, as a reference to the Attorney-General or the Solicitor-General or the Additional Solicitor-General.] ---------------------------------------------------------------------- 1. Ins. by Act 24 of 1994, S.3 (w.e.f 25.1.1.1994) 2. Ins. by S.4 bid. 3. Ins. by S.5 bid. ---------------------------------------------------------------------- 195
