Aluminium Corporation of India Limited (Acquisition and Transfer of Aluminium) Undertaking Act : DISBURSEMENT

Aluminium Corporation of India Limited (Acquisition and Transfer of Aluminium) Undertaking Act,1984

Act No : 43

Section : DISBURSEMENT OF AMOUNTS TO THE COMPANY

SECTION 22: DISBURSEMENT OF AMOUNTS TO THE COMPANY

(1) If, out of the monies paid to him under section 15-, there is a balance left after meeting the liabilities as specified in the Schedule, the Commissioner shall disburse such balance to the Company.

(2) Where the possession of any machinery, equipment or other property has vested in the Central Government or the Bharat Aluminium Company under this Act, but such machinery, equipment, or other property does not belong to the Company, it shall be lawful for the Central Government or the Bharat Aluminium Company to continue to possess such machinery or equipment or other property on the same terms and conditions under which it was possessed by the Company immediately before the appointed day.