Amendment status not verified — confirm the current text below against the official source.
Provident fhwid and other jund'i.'—{1) Where the ownJof'the sick textile undertaking has, established a provident fund, superannuation, welfare- Or other fund for- the benefit of the persons employed in'such sick te*tt:1e undertaking, the money relatable to-the imployees, whose serviceshave - become transferred by-or--under this 'Act to the State Textile Cqrporation shall, ñt of the money standing, on tj2e appointed day, to the credi(f su ch piwident fund, superannuation, welfare or -other fund, stand trangferred.to, and shall vest in the SttC Textile corporation. -(2) Te money which stand transferred under sub-ecfion. (TY to the - - - State Textile Corporation hall be dealt with by that Corporation in swth manner as may be' prescribed. IS. Transfer of employees to Subsidiary Textile Corporation—Y1here the sick textile undertaking or any part thereof is transferred under this Act to a Subsidiary Tetik Corporatidn,. - 'every prnn referre4 to. in sub-section (i) and siib-sectioh (2) of section }, shall on and fromthe date of - such transfer,' becQrne an employee of the Subsidiaxt Teitile corporatioti' and the provisions of sectiotis43 nd 14 shall apply tQ'suh employee as they apply to an-employee, of the State Textile Corporation,hsif references in the slid sections to the Staè Textile Corporation wãe references to tie Subsidiary- ubsidiary Textile textile LOrporatlOn. 4593800/2020/IND(OS) 28 35 .. • . • CHAPTER VI COMMISSIONER OF PAYMENTS 16 Appbiniment of Commissioner of Payments —(1) For the purpose o'f disbursing the amounts payabl to the'owner of the sick textile undertaking, ' specified in the First Schedule, the State Government shall, by'notification in the Gazette apoint a perón as they may. think fit to be the Commissioner.of !aYments; .. . • . . •: . The State Government may, appoint such other persons as they . may think fit o 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 and different persons may be äuthorised to exercise different powers. 'I ''' . '• O Any person authorised by the Commissioner to exercise any powers may xercise those powers in the same manner and witI the same effect as if thy have been conferred on that person directly by this Act and not by way of authonsation 0 (4) The salaries and allowances of the Commissioner shall be defrayed .out of ,the Consolidated Fthid of the State of Kerala. 17' Payment by State Government to the Commissioner— ( 1) The State Government shall within thirty days from the specified date, pay in cash to the Commissioner,-for payment to the owner of the sick textile undertaking, an amount equal to the amount specified against the sick textile undertaking in the Fit Schedule and shall also pay to the Commissioner such sums as may be due to the owner1 of the sick textile undertaking under sub-section (2) of section 8 and section 9 2) 'A separate account shall be opened by the State Government in favour of the Commissioner and every amOunt paid under this Act to the Commissionerj shall be deposited by him in that account and thereafter such account shall be operated by the fCommissioner. ISeparate records shall be maintained by the Commissioner in respect of the. sick textile undértakin in relation to which payments have been made to him underthis Act Interest accruing on the amounts standing to the credit of the. - . -,-- . . . account referred to in sub-section (2) shall ensure to the benefit of the owners r of the sick textile undertaking - . • • 0 ' , 0._ 0 • . 0 •0 '• . 0 4593800/2020/IND(OS) 29 36 Claims to be' made to the ComMLssioner.---Every person having a claim against the owner of the, sick textile undertaking shall prefer such claim before the Commissioner within thirty dais from the specified cfate Provided that'if the Coramissionr is satisfied that the claimant was' prevented by sufficient causfrom preferring the claim within the said period of thfrt days may entertain the claim within a fiitther period ofthirtydays but -- - not thereafter. Priorizy of claims?—The claims arisipg out of the matters specified in the Second Schedule shalr have priorities in accordance with the fbllowing principles, naniely:— (al Categbry 1 will have precedence ever #11 other categories and Category U. will have a precedence over Cory III and so on; (1) The claims specified in each ofthe dategories, =ept Category V. shall rank equally and be pid in tZ.ii; but if the amount is insufficient to meet ,sucb claims-'in full, .they. Iball. bate' in equal proportions and be 'paid accordingly; (cJ The Iiabilities specified in Category V shall 'be dis4harged subjeci to the pnorities specified in this sectlon in accordance with the terms of the secured loans and the priority, inter se,.cf such loans; and - - (d) The- question ofpayment of a. liability with regard. to a matter specified in a lower category shall arise pnly if a surplus is left after meeting - all 'the liabilities specified in the immediately higher'catg9ry .• • Earniiation of claThzs.—(l) On.. reeeipt of .the claims under section 18, the C,om sioer 'shall arrange the claims in the order of priority specified in the Second chedule 'and examine the sme in acèordaiice with the said order. (2) If, o examjnation'of the claims, the eornmuiss'ioner is of the" opiniqn that the amount paid to hinr pnder this Act is' not sufllcieni to meet the liabilities specified in any lower hategciry, he shall not be reqiired to xarnine the ljabiliiis in respect of such lower category. - -: ifdmissio, or' ejeqton 'of the c1aims.—(lAftr examining the claim - - with. reference to the priority pet out in the Second Schedule, the Commissioner shall fix a certain date one or hefor&'which every claünaut shall file the proOf-of his clin,, otherwise he excludçd 1rpn the benefit of the disbursement made by the Commissioiier ' - 4593800/2020/IND(OS) 30 A. -37- £000027 (2) Not less than fourteen days' notice of the date so fixed shall be given by adverisement in one issue of a daily newspaper in the English Language andoid issue of a daily newspaper in the Regional Language js the Commissioner niay consider suitable and every such notice shall call upon the claimant to file the proof of his claim with the Commissioner within the time specified in the advertisement (3) Any claimant who fails to file the proof of h s claim within the time specified by the Commissioner shall be excluded from the disbursement - made by the Commissioner 0: ... 0 (4) The1Commissioner shall, after such investigation as may, in hm opinion, be necessary and ?after giving the owner of the sick textile undertaking an opportunity cJf refuting the claim and after giving the claimants a ?easonable tç opportunity of bing heard, in writing admit or reject the claim in whole or in part (5) The Commissioner hall have the power to regulate his own procedure in aiiJ matters ansing out of the discharge or his functions, including ...... . . 0 •,., ......... 0 • the place or places at winch, he will hold his rittings and shall, for.the purpose 0 of making ny ihvestigation under this Act have the same powers as are vested in a civil courtjunder the Code of Civil Procedure, 1908 (Central Act 5 of 1908), while trying a suit in respect of t'he following matters, namely - (a summoning and enforcing the attcndance of any persot and examining him n oath N. dLcovery and production of any document or other material object producibe as evidence reception of evidence on affidavits appointment of commissions for the examination of witnesses (6) Any investigation before the Commissioner shall be deemed to be a judicial proceed1ing within the meaning of sections 193 and 228 of the Indian Penal Code (Central Act 45 of'1860) anti the Commissioner shall be deemed to be a civil court tfor the purposes of section 195 and Chapter XXVI of the Code of Criminal Propedure, 1973 (Central Act 2 of 1974) I i (1) A plaimant who is dissatisfied with the decision of the Commissioner may prefer an appeal against the decision to the principal civil court .of.origindi jürisdiction within the. focal limits of whôsë jurisdiction the sick textile undrtaking is situ&ted 33/1432120lb/DTP \0 V '. 0 4593800/2020/IND(OS) 31 - - 38 -Z2 i)isbur'semejt of money by rhe Commissioner to claimants._—ijter * admitting a claim under this Act, the -amount due in respect of such claim shall be credited by the Commissioner to the relevant fund or be paid to the person or persons to vhom such sums are due and on such credit or paythent the- liability of the owner in reSpect of such claim shall stapd discharged.