Amendment status not verified — confirm the current text below against the official source.
(1) If, out of the moneys paid to him in relation to the undertakings of the Company, there is a balance left after meeting the liabilities in accordance with the priorities specified in the Schedule, the Commissioner shall disburse such balance to the Company. (2) Where any machinery, equipment or other property has vested under this Act in the State Government or the existing, or new, Government company, as the case may be, but such machinery, equipment or other property does not belong to the Company; it shall be lawful for the State Government or the existing, or new, Government company, as the case may be, to continue to possess such machinery, equipment or other property on the same terms and conditions under which they were possessed by the Company immediately before the appointed day. Disburse- ment of money by Commis- stoner to claimants. Disburse- ment of amounts to the Company and possession of certain machinery, equipment, etc. 237 The India Belting and Cotton Mills Limited (Acquisition and Transfer of Undertakings) Act, 1992. [West Ben. Act (Chapter V1.—Commissioner of Payments.—Section 24.— Chapter VII. Miscellaneous.—Sections 25-27.) Undisbursed or unclaimed amount to be deposited to the general revenue account.-