Laws and Bare Acts of India at MyNation.net

MyNation Foundation Online Law Library

Section 15 – The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act,1977

The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act,1977

Section 15. Payment by the Central Government to the Commissioner

(1) The Central Government shall, within thirty days from the specified dates, pay, in cash, to the Commissioner, for payment to the Company —

(a) An amount equal to the amount specified in section 7; and

(b) An amount equal to the amount payable to the Company under section 8.

(2) A deposit account shall be opened by the Central Government in favour of the Commissioner, in the Public Account of India, and every amount paid under this Act to the Commissioner, shall be deposited by him to the credit of the said account and the said deposit account shall be operated by the Commissioner.

(3) Interest accruing on the amounts standing to the credit of the deposit account referred to in sub-section (2) shall enure to the said account.

Previous | Next

The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act,1977

Indian Laws – Bare Acts

MyNation

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2020 Laws and Bare Acts of India at MyNation.net
×

Free Legal Help, Just WhatsApp Away

MyNation HELP line

We are Not Lawyers, but No Lawyer will give you Advice like We do

Please read Group Rules – CLICK HERE, If You agree then Please Register CLICK HERE and after registration  JOIN WELCOME GROUP HERE

We handle Women Centric biased laws like False Section 498A IPC, Domestic Violence(DV ACT), Divorce, Maintenance, Alimony, Child Custody, HMA 24, 125 CrPc, 307, 312, 313, 323, 354, 376, 377, 406, 420, 497, 506, 509; TEP, RTI and many more…

MyNation FoundationMyNation FoundationMyNation Foundation