Jute Companies (Nationalisation) Act,1980

Act No : 62

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Section : PAYMENT BY THE CENTRAL GOVERNMENT TO THE COMMISSIONER

SECTION 15: PAYMENT BY THE CENTRAL GOVERNMENT TO THE COMMISSIONER

(l) The Central Government shall, within thirty days from the specified date, pay in cash to the Commissioner, for payment to every jute Company,-

(a) an amount equal to the amount specified against the name of that Company in the First Schedule;

(b) a further amount equal to the amount payable to that 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 deposit account and the said deposit account shall be operated by the Commissioner.

(3) Separate records shall be maintained by the Commissioner in respect of each of the jute companies in relation to which payment has been made to him under this Act.

(4) Interest accruing on the amount in relation to a jute Company Standing to the credit of the deposit account referred to in sub-section (2) shall endure to the benefit of such jute Company.

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