Amendment status not verified — confirm the current text below against the official source.
Payment by Government to tlze Commimoner.-(1) shall, within sixty days from the appomted day, pay in missioner, for payment to the Company- The Government cash to the Com- (a) an amount equal to the amount specified in sub-section (1) of section 7; and 34/3~58/MC • • ' I iu {b) an an'lount equal to the amount of Interest determined in accordance with the provisions of sub-section (2) of that section. (2) A deposit account shall be opened by the Government in favour . of the Commissioner in 'the Public Account of the State and any amount paid under this Act to the Commissioner shall be depostted by htm to the credit of the said deposit account and the said deposit account shall be operated by the Commissioner. (3) Records shall be maintamed by the. Commissioner in respect of the undertakings of the Company in relatton to which payment has been made to him under this Act. • ' (4) The mterest accruing ontthe amount standing to the credit of the deposit account referred to m sub-section (2) shall be credited to the Government after settlement of the clatms. :