Smith, Stainstreet and Company Limited (Acquisition and Transfer of Undertakings) Act : UNDISBURSED OR

Smith, Stainstreet and Company Limited (Acquisition and Transfer of Undertakings) Act,1977

Act No : 41

Section : UNDISBURSED OR UNCLAIMED AMOUNT TO BE DEPOSITED WITH THE GENERAL REVENUE ACCOUNT

SECTION 23: UNDISBURSED OR UNCLAIMED AMOUNT TO BE DEPOSITED WITH THE GENERAL REVENUE ACCOUNT

Any money paid to the Commissioner which remains undisbursed or unclaimed for a period of three years from the last day on which the disbursement was made, shall be transferred by the Commissioner to the general revenue account of the Central Government; but a claim to any money so transferred may be preferred to the Central Government by the person entitled to such payment and shall be dealt with as if such transfer had not been made, the order if any for payment of the claim being treated as an order for the refund of the revenue. .