Section 8: Payment of amounts.

The State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act, 1982Central Act · Act 62 of 1982

(1)For the transfer to, and vesting in, the Central Government, of the shares of the Sikkim Bank under section 3, there shall be given by the Central Government to the holders of such shares in cash and in the manner specified in the Schedule, an amount of rupees eight lakhs twelve thousand two hundred and ninety-five.

(2)The amount specified in sub-section (1) shall carry simple interest at the rate of five and a half per cent. per annum for the period commencing on the appointed day and ending on the date on which payment of such amount is made to the shareholders.

Where this provision sits

Act	The State Bank of Sikkim (Acquisition of Shares) and Miscellaneous Provisions Act, 1982
Section	8
Marginal note	Payment of amounts.
Jurisdiction	Central
Status	In force as published by the source

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