(1) The State Government or the Board, as the case may be, shall be entitled to receive upto the appointed day to the exclusion of all other persons any money due in respect of the Estate which has vested in the State Government or the Board, and realised after the appointed day, notwithstanding that the realisation pertains to a period prior to the appointed day.
(2) The State Government or the Board, as the case may be, may make a claim to the Commissioner with regard to every payment made by the State Government or the Board after the appointed day for discharging any liability of the owners or transferees in relation to the Estate, in respect of any period prior to the appointed day and every such claim shall have priority in accordance with the priorities attached under this Act to the matters in relation to which such liability has been discharged by the State Government or the Board.
(3) Save as otherwise provided in this Act, the liabilities of the owners or transferees in relation to the Estate in respect of any transaction prior to the appointed day which have not been discharged on or before the appointed day shall be the liabilities of the owners or transferees as the case may be.