Coal Mines (Nationalisation) Act : Recovery of excess payments made by Central Government or Custodian.

Coal Mines (Nationalisation) Act,1973

Act No : 26

Section : Recovery of excess payments made by Central Government or Custodian.

4*['25. Recovery of excess payments made by Central Government or Custodian. Any amount in excess of payments over receipts in the statement of accounts prepared under section 19 shall be deemed to be an amount advanced by the Central Government or the Custodian, as the case may be, for the management of a coal mine during the period in which the management of such coal mine remained vested in the Central Government and the Central Government may make a claim to the Commissioner for such excess payment and such claim shall have priority over the claims of all other unsecured creditors of the coal mine, including those referred to in sub-section (2) of section 22. Explanation.--In this section. "Custodian" means the Custodian appointed under the Coal Mines (Taking Over of Management) Act, 1973 (15 of 1973).'] ---------------------------------------------------------------------- 1 Ins. by Act 22 of 1978, s. 14 (w.e.f. 27-5-1978). 2 Ins. by s. 15, ibid., (w.e.f. 27-5-1978). 3 Ins. by s. 16, ibid. (w.e.f. 1-5-1973). 4 Subs. by Act 57 of 1986, s. 17 (w.e.f. 1-5-1973). 351