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Section 9: Payment of further amount

The Commonwealth Trust, Kozhikode (Acquistion and Transfer of Undertaking) Act, 2012State Act of Kerala · Act 1 of 2018

(1) The textile company shall be given by the Government for the deprivation of its management an amount of one thousand rupees per annum for the period commencing on the date on which the undertaking has been closed and ending on the date of commencement of this Act.

(2) The amount calculated in accordance with the provisions of sub-section (1) shall carry simple interest at the rate of four per cent per annum for the period commencing on the date of commencement of this Act and ending on the date on which the payment of such amount is made by the Government to the Commissioner.

(3) The amounts determined in relation to the undertaking in accordance with the provisions of sub-sections (1) and (2) shall be given by the Government to the textile company in addition to the amount specified in the First Schedule against that company.

Where this provision sits

ActThe Commonwealth Trust, Kozhikode (Acquistion and Transfer of Undertaking) Act, 2012
Section9
Marginal notePayment of further amount
JurisdictionState of Kerala
StatusIn force as published by the source

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