Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act : PAYMENT BY THE CENTRAL GOVERNMENT TO THE

Amritsar Oil Works (Acquisition and Transfer of Undertakings) Act,1982

Act No : 50

Section : PAYMENT BY THE CENTRAL GOVERNMENT TO THE COMMISSIONER

SECTION 15: PAYMENT BY THE CENTRAL GOVERNMENT TO THE COMMISSIONER

- (1) The Central Government shall, within thirty days from the specified date, pay, in cash, the Commissioner, for payment to the Amritsar Sugar Mills Company, an amount equal to the amounts specified in section 7-.

(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 thereafter the said deposit account shall be operated by the Com- missioner.

(3) Interest 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 Amritsar Sugar Mills Company.