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Section 21 – The Tea Companies (Acquisition and Transfer of Sick Tea Units) Act,1985

The Tea Companies (Acquisition and Transfer of Sick Tea Units) Act,1985

Section 21. Disbursement of amounts to the tea companies

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

(2) Where the possession of any machinery, equipment or other property possessed by a tea company has vested in the Tea Trading Corporation under this Act but such machinery, equipment or other property does not belong to such tea company, it shall be lawful for that Corporation to continue to possess such machinery or equipment or other property on the same terms and conditions under which they were possessed by such tea company immediately before the appointed day.

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The Tea Companies (Acquisition and Transfer of Sick Tea Units) Act,1985

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