Section 5: Payment of amounts.

The British India Corporation Limited (Acquisition of Shares) Act, 1981Central Act · Act 29 of 1981

(1) For the transfer to, and vesting in, the Central Government, under section 3, of the shares of the Company, there shall be given by the Central Government to the shareholders of the Company, in cash and in the manner specified in section 7, an amount of rupees twenty-two lakhs and sixty thousand.

(2) The amount, referred to in sub-section (1), shall carry simple interest at the rate of four percent. per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made by the Central Government to the Commissioner.

Where this provision sits

Act	The British India Corporation Limited (Acquisition of Shares) Act, 1981
Section	5
Marginal note	Payment of amounts.
Jurisdiction	Central
Status	In force as published by the source

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