Amendment status not verified — confirm the current text below against the official source.
(j) ygg state Government shall, for the oner of pay-purpose ot disbursing the amounts payable under menu. sections 7 and 8, by notification, appoint a Com missioner of Payments. (2) The State 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. The Commissioner may autho rise different persons to exercise different powers. (3) Any person authorised by the Commissioner to exercise any of the powers exercisable by him may exercise those powers in the same manner and » with the same effect as if such powers have been conferred on that person directly by the State Go vernment under this Act. (4) The salaries and allowances of the Commi ssioner and other persons appointed under this section shall be defrayed out of the consolidated fund of State- theyms"atey 0 ) The State Government or the Govern- GoverRment ment Company, as the case may be, shall within Mion«mmi" thirty days from the appointed day or the speci fied date as may be prescribed, pay in cash the amounts mentioned in clauses (a) and (b) of this section to the Commissioner for payment to the Company and to discharge the liabilities of the Company in relation to the undertaking prior to the appointed day in accordance with the Schedule; (a) an amount equal to the amount specified in section 8; and (b) an amount equal to the amount payable to the Company under section 9. (2) A deposit account shall be opened by the State Government in favour of the Commissioner I'HE ASSAM GAZETTE, EXTRAORDINARY SEPT. 2\ 1990 789 in the Public Account of the State, and every amount paid under this Act to Gomirns ioner shall be deposited by him to the credit of the said deposit account and the said deposit account shall be operated by the Commissioner. (3) The interest accruing on the amount stand ing to the credit of the deposit account referred to in sub-section (2) shall accrue to the said account. Powers of 18- (1) The State Government or the Government suu Gover-Company, as the case may be, shall be entitled to nment or receive, upto the specified date, to the exclusion of company6.114 all other persons, any money due to the Company in relation to the undertaking which has vested in the State Government, or the Government Com pany, as the ease may be, and realised after the appointed day, notwithstanding that the realisation pertains to a period prior to the appointed day. (2) Save as otherwise provided in this Act, the liabilities of the Company in respect of any period prior to the appointed day, which have not been discharged by the State Government or the Government Company, shall be the liabilities of the Company. beCmad* to Every person having a claim with regard them com- to any of the matters specified in the Schedule, missioner. pertaining to the undertaking of the Company ac quired under this Act, shall prefer such claim be fore the Commissioner within thirty days from the specified date : Provided that if the Commissioner is satisfied that the claimant was prevented by sufficient cause from prefering the claim within the period of thirty days, he may entertain the claim within a further period of thirty days, but not thereafter. p io rit of 20- The claims made under section 19 shall claims'?70 have priorities in accordance with the following principle, namely ?■— (a) categories listed higher will take precedence over the ones listed lower in the Schedule 790 THE ASSAM GAZETTE. EXTRAORDINARY. SEPT. 25. 1990 that is to say, category I will take prece dence over all others and category II while coming next to category I will take precedence over category III etc. and so on and so fo rth; (b) the claims specified in each of the cate gories shall rank equally and be paid in full, but, if the amount is insufficient to meet such claims in full, they shall abate in equal proportions and be paid accordingly ; (c) the liabilities specified in category II shall be discharged in the manner ag reed upon with ti.e bank, financial in stitutions subject to the priorities speci fied in this section; and (d) the question of discharging any liability with regard to a matter specified in a lower category shall arise only if a sur plus is left after meeting all the liabili ties specified in the immediately higher category. Examina- •; ion of claims.