Amendment status not verified — confirm the current text below against the official source.
(1) The State Government shall, within thirty days from the date of publication of the notification appointing the Commissioner, pay in cash to the Commissioner, for payment to the owner of the textile undertaking an amount equivalent to the amount determined by the Commission. (2) A deposit account shall be opened by the State Government, in favour of the Commissioner, in the Public Account of the State, and the amount paid to the Commissioner under sub-section (1) shall be deposited by him to the credit of the said deposit account in the Public Account of the State and thereafter the said deposit account shall be operated by the Commissioner. (3) Records shall be maintained by the Commissioner in relation to which payments have been made to him under this Act. (4) Interest accruing on the amount standing to the credit of the deposit account referred to in sub-section (2) shall accrue to the benefit of the owner of the textile undertaking.