Payment of amount.

Health197616 sections

Statutory text

(1) For the transfer under section 3, of the undertaking of the Society to the Government there shall be paid by the Government to each shareholder of the Society an amount equal to the value of the shares held by him in the Society immediately before the appointed day.
(2) The amount payable under sub-section (1) shall be paid by the District Collector, Trichur, in cash, within a period of three months from the appointed day: Provided that if the amount is not paid within the period aforesaid, the District Collector shall pay interest on the amount at the rate of four per cent per annum from the date of expiry of the said period.

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