Section 8: Payment of amount.

The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972Central Act · Act 78 of 1972

(1) For the transfer, under section 3, of the undertaking of the old company to the Central Government, there shall be paid by the Central Government to the Custodian an amount of rupees thirty lakhs.

(2) The Custodian shall open an account in the name of the old company in any scheduled bank and credit the said amount to the said account and hold the said amount in trust for and on behalf of the old company.

Where this provision sits

Act	The Richardson and Cruddas Limited (Acquisition and Transfer of Undertaking) Act, 1972
Section	8
Marginal note	Payment of amount.
Jurisdiction	Central
Status	In force as published by the source

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