Amendment status not verified — confirm the current text below against the official source.
(1) The State Government shall, for the purpose of disbursing the amounts payable to shareholders of the Company under section 5, by notification, appoint a Commissioner of payments. (2) The State Government may appoint such other persons as it may think fit to assist the Commissioner and there upon 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 authorised to exercise different powers. (3) Any person authorised by the Commissioner to exercise any of the powers exercisable by the Commissioner may exercise those powers in the same manner and with the same manner and with the same effect as if they have been conferred on that person directly by this Act, and not by way of authorisation. Payment by the State Government to the Commissioner