Payment by the Government to the Commissioner—(1) The

Govemment shall, within thirty days from the commencement of this Act, . pay in cash to the Commissioner, for payment to the owner of the undettaking, an amount equal to the amount spécified against the undertaking in the First Schedule and shall also pay to'the Commissioner . such{sums as may be due to thé owner of the undertaking and the owners of the properties sold under sub-section (2) of section 8, section 9 ©" and dection 10. .

• • ton 1 (2) "A separate account shall be opened by the Government in Re favor of the Commissioner and every amount paid under this. Act to the . ‘Conimissioner shall be deposited By him in that account and thereafter “ sucl account shall be operated by the Commissioner: Co | (3) Separate. records shall be maintained by the. Commissioner in } respect of the undertaking and the payment made to him under this Act. ’ | (4) -Intérest accruing on the amounts standing to the credit of the . account referred to in sub-section (2) shall ensure to the benefit of the ’ owders of the undertaking and payment of interest to the owners of the properties sold. : . “| 19. “Claims to be made to the Commissioner.—Every person having a claim against the owner of the undertaking or the properties sold shall . o p! fer such claim before the Commissioner within. thirty days from the
• • -date of appointment of the. Commissioner. or such extended period, as the Cn. G vernment may, by notification in the Gazette, specify: R .{+ Provided that if the Commissioner is satisfied that the claimant was N Rn prevented by sufficient cause from preferring the claim within the said
• • behiod he may ‘entertain the claim within a further period of thirty days , bit not thereafter. a. : | 20. Priority of claims.—(1) The claims arising out of the matters specified in the Second Schedule shall have priorities in accordance with ” the following principles, namely: — oo . : ’ (a) Category 1 will have precedence over all other tegories and Category II will have precedence over Category III and 3 on; : o Lo ‘ ‘ | . . B ) ' 14 . :

1. (b) The claims specified in each of the categories, except Category V, shall rank equally and be paid in full, but if the amount is insufficient to meet such claims in full, they shall abate in equal proportions and be paid accordingly; - ’ (¢) The liabilities specified in Category V shall be discharged subject to the priorities specified in this section, in accordance with the terms of the secured loans and the priority, inter se, of such loans; and ’
2. (d) The question of payment of a liability with regard to a : matter specified in a lower category shall arise only if a surplus is left . after meeting all the liabilities specified in the immediately higher category. * *

1. (2) The provisions of this section shall not in any way affect payment of compensation to the owners of properties sold.