Tea Companies (Acquisition and Transfer of Sick Tea Units) Act : Assumption of liability. Indian Bare

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

Act No : 37

Section : Assumption of liability.

24. Assumption of liability. (1) Where any liability of a tea company arising out of any item specified in Category I of the Second Schedule is not discharged fully by the Commissioner out of the amounts paid to him under this Act, the Commissioner shall intimate in writing to the Central Government the extent of the liability which remains undischarged and that liability shall be assumed by the Central Government. (2) The Central Government may, by order, direct the Tea Trading Corporation to take over the liability assumed by the Central Government under sub-section (1), and on receipt of such direction, it shall be the duty of that Corporation to discharge such liability. 200