Levy Sugar Price Equalisation Fund Act,1976
Act No : 31
Section :
Levy Sugar Price Equalisation Fund.
3. Levy Sugar Price Equalisation Fund. (1) There shall be established a Fund, to be called the Levy Sugar Price Equalisation Fund. (2) Save as otherwise 2[provided in sub-section (5)] there shall be credited to the Fund, in such manner as may be prescribed,- (a) the amounts representing all excess realisations made by the producers, irrespective of whether such excess realisations were made before or after the commencement of this Act; (b) the amounts representing any loans which may be advanced, or grants which may be made, by the Central Government for carrying out the objects of the Fund. (3) Save as otherwise 2[provided in sub-section(5)] every producer shall,- (a) in the case of an excess realisation made before the commencement of this Act, within thirty days from such commencement, (b) in the case of an excess realisation made after such commencement, within thirty days from the date on which such excess realisation was made, credit to the Fund, the amount representing such excess realisations, together with interest due thereon at the rate of twelve and a half per cent. per annum, from the date on which such amount was realised by him; 2["Provided that-- (a) the interest due on so much of any amount of any excess realisation made before the date of commencement of the Levy Sugar Price Equalisation Fund (Amendment) Act, 1984, as is not credited to the Fund together with interest at the aforesaid rate of twelve and a half per cent. per annum before the expiry of, sixty days from the date of such commencement; and (b) the interest due on so much of the amount of any excess realisation made on or after the date of such commencement as is not credited to the Fund together with interest at the aforesaid rate of twelve and a half per cent. per annum within sixty days from the date on which such amount was realised, shall be at the rate of fifteen per cent. per annum from the date on which such amount was realised by the producer]; -------------------------------------------------------------------- 1. Ins. and subs. by Act 54 of 1984, s.2(retrospectively.) 2. Subs. and ins by s.3, ibid. --------------------------------------------------------------------
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