(1) When an award is made by the Claims Commissioner or the Claims Commission under this Act,––
(a) the insurer or any person who under the contract of insurance or financial security is required to pay any amount in terms of such award and to the extent of his liability under such contract shall deposit that amount within such period and in such manner as the Claims Commissioner or the Claims Commission may direct; and Award of compensation.
Extinction of right to claim.
Enforcement of awards.
34 THE GAZETTE OF INDIA EXTRAORDINARY [Part II— 34 Dissolution of Claims Commission in certain circumstances.
Penalties.
(b) the operator shall, subject to the maximum amount of liability specified in the Second Schedule, deposit the remaining amount by which such award exceeds the amount deposited under clause (a).
(2) Where the insurer or operator or any person referred to in sub-section (1) fails to deposit the amount of award within the period specified in the award, such amount shall be recoverable from such insurer or operator or person, as the case may be, as arrears of land revenue.
(3) The amount deposited under sub-section (1) shall be disbursed to such person as may be specified in the award within a period of fifteen days from the date of such deposit.