Amendment status not verified — confirm the current text below against the official source.
(1) If, out of the monies paid to him in nts°f to m ° h e relation to the undertaking of the Company, there Company, is a balance left after meeting the liabilities in accordance with the priorities as specified in the Schedule, the Commissioner shall disburse such bala nce to the Company. (2) Where the possession cf any machinery, equipment or other property has vested in the State Government or the Government Company, as the case may be, under this Act, but such machinery, equipment or other property does not belong to the Company, it shall be lawful for the State Government or the Government Company to continue to possess such m chinery, equipment or other property on the same terms and conditions under which ti ey were possessed by the Company immediately before the appointed day. Un disbm sed or un cla imed am ou nt to be deposited with the general revenue acco un t.