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Section 22

Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings)Ordinance, 1977Ordinance · 1977

(7) If, out of the monies paid to him in relation to the undertakings of the Company, there is a balance left after meeting the liabilities as specified in the Schedule, the Commissioner shall disburse such balance to the Company.

45 of 1860.

2 of 1974.

5 of 1908.

SEC. t] THE GAZETTE OF TNDTA : EXTRAORDINARY 367

(2) Where any machinery, equipment or other property has vested in the Central Government or a Government company under this Ordinance but such machinery, equipment or other property docs not belong to the Company, it shall be lawful for the Central Government or the Government qompany to continue to possess such machinery, equipment or other property on the same terms and conditions under which they were possessed by the Company immediately before the 4th day of May, 1972.

23. Any money paid to the Commissioner which remains undisbursed or unclaimed for a period of three years from the last day on which the disbursement was made, shall be transferred by the Commissioner to the general revenue account of the Central Government; but a claim to any money so transferred may be preferred to the Central Government by the person entitled to such payment and shall be dealt with as if such transfer had not been made, the order, if any, for payment of the claim being treated as an order for the refund of the revenue.

Where this provision sits

ActSmith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings)Ordinance, 1977
Section22
StatusIn force as published by the source

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