Protection of Fund

(1) The amount standing to the credit of any handloom worker in the Fund shall not in any way be capable of being assigned or charged and shall not be liable to attachment under any decree or order of any Court in respect of any debt or liability incurred by the handloom worker and neither the Official Assignee nor any Receiver appointed under the Insolvency Act, 1955 shall be entitled to, or have any claim on, any such amount. (2) Any amount standing to the credit of any handloom worker in the Fund at the time of his death and payable to his nominee shall, subject to any deduction authorised by this Act and the scheme, vest in the nominee and shall be free from any debt or other liability incurred by the deceased or the nominee before the death of the handloom worker.