Transformer and Switchgear Limited (Acquisition and Transfer of Undertakings) Act : DISBURSEMENT OF MONEY BY

Transformer and Switchgear Limited (Acquisition and Transfer of Undertakings) Act,1983

Act No : 41

Section : DISBURSEMENT OF MONEY BY THE COMMISSIONER TO CLAIMANTS

SECTION 21: DISBURSEMENT OF MONEY BY THE COMMISSIONER TO CLAIMANTS

After admitting a claim under this Act, the amount due in respect of such claim shall be paid by the Commissioner to the person or persons to whom such amount is due, and on such payment, the liability of the Company in respect of such claim shall stand discharged.