Administration of property attached

Administration of property attached:- The Designated Court may, on the application of any person interested in any property attached and vested in the Competent Authority under this Act, and after giving the Competent Authority an opportunity of being heard, make such orders as the Designated Court consider just and reasonable for -

a. providing from such of the property attached and vested in the Competent Authority as the applicant claims an interest in such sums as may be reasonably necessary for the maintenance of the applicant and of his family, and for expenses connected with the defence of the applicant where criminal proceedings have been instituted against him in the Designated Court under section 3;

b. safeguarding so far as may be practicable the interest of any business affected by the attachment and in particular, the interest of any partners in such business;

c. liabilities according to a financial establishment or person emanting out of proceedings before a Designated Court, shall be discharged in the manner prescribed by the Government out of the attached properties and assets in respect of such financial establishments or person as referred to in section 4.