Amendment status not verified — confirm the current text below against the official source.
( I ) If . within fifteen days from the date of ser- vice of the demand referred to in section 10, the de- distniacd. I faulter does not pay the amoiuit for which the distraint was effected, the distrainer may sell in auction the dis- trained property or such part thereof as may in hi& opinion be necessary to satisfy the demand together. with the expenses of thc distraint and the cost8 of. the sale; (2) From the proceeds of such sate, a deduction shall be madc at a rate not exceeding '[seven nayq paise] in the rupee on account of the costs of the .ale. I ' These words were ybstitutcd for the words " one anna *' by I a t ion 2 of. and the ~ c h d u l e lo, theTamil Nadu Coinage (4tqntipg JI Raferancqn) Act, 1969 (Tamil Nadu Act 9 of 1960). 125 -149-24 I Co-operative Land f1934: T.N. Act X Development Banks (3) From the balance shall be deducted the expenses incurred by the distrainer on account of the distraint. (4) The remainder, if any, shall be applied to the discharge of the amount for which the distraint was made. ( 5 ) The burplus, if itny, shall be delivered to the pcrson \thobe property has been sold and h: shall be given a receipt for the nmount disclu;~rged from the proceed:, of the snlc. Powcr of State