Ang .amouint paid to the Commissioner which remains undisbursed or uiclaimed for a period bf three years from- the last day on •', . •:
4593800/2020/IND(OS) 32 S. S S 4' -. "S S •, '5• 4 - - S •,, '' 39 •z000026 T-S., ,.
-'which the disbiirement was made; shall be transferred by the CQrnmiSsioner to t~tlli6 generaL revenie account of the State Govemment, but a claim to any money '. so transferred may be preferred to the', State GovernmexTt by the person enjitled t such payment and shall be dea"lt with as if such' transfer had not been made and the order, if ini for payment of the ctaim being treated as an order for the refund. of revenue.
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CHAPTER VII - MISCELLANEOUS . 4 .
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c...- .5 25 Assumption of liability —(1) Where any liability of the sick textile undertaking arising out of any claim spectfied in Category I Category II or Category Ill or, C&tegory IV in the Second Schedule is not dis.charged fully by Commissioner out of the amouiit paid to him under 'this Act, the Commissioner shall intimate in writing to the State Government the extent of the liability whicl remains undischarged and that liability shall be assumed by :.-.the Statê Government.
(2) The liabihty assumed by the State S Government under sub-section l) shall be dis"charged by' payment of the amount of the liability in;negtiable '5 S bonds redeemable after the expiry of ten years and carrying simple interest at he rate, of seven'and a half per cent pe,r annum with effect from the, appointed day.
26 Act to over-rzd all other enactments —The provisions of this Act shall have effect notwithstanding anything inconsistent therewith cbntained in any other law, for the time being in force or, in any intrument having effect by - virtue of any lawother than this Act or in any decree or order of any court, tribunal or authority.
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27 Contracts to cease to have effect unIes ratified by State Textile ' Corporation —(l)]Any €ontract entered into by the owner or occupier of the sick txti1e undertaking for any service, sale or supply aid in force immediately sfbefore the appointed day.shal1,.on and frorn.the expiry of one hundrd and' "c?.-"eighty days from the date of commencement of this Act, cease to have effect ' un1ess such contrast is, before the expiry of that period ratified, in wntmg by +;he State Textile Corporation and in ratifying such contract the State Texiile ,Corporation may, with the previous approval of the State Government, make ''juâh altératiois or modificatiOns therein as it may' think fit:.
5 5 5 5 •0 0 5 0 4593800/2020/IND(OS) 33 . .-, 40 - lrovided that State Textile Corporation shall not omit to ratify a ctittact and shall not make any alteration or' modification in a contract an1essit is satisfied that such contract is u.diiIy àñerons or has been enterd into in bad faitfi or is' detriffiental to the interests of the sick textile indetakmg
(2)'The State liextile Corporation shall not omit to ratify a cntraei an& shall not make any alteraiioa or modification therein -except after giving to th parties to the contract .a redonable opporwntty of being heath and except after - recording. inwritiag.its reastn fortfiisa1 o ratify the contract. 'or fr making .
any alteration or modifications therein,-