section 10
Government]" shall be substituted.
The Presidency-Towns Insolvency (Bombay Amendment) Act, 1933Corporate193312 sections
Statutory text
Insertion of new sections 123A and 123B in Act III of After section 123 of the said Act, the following sections shall be inserted, namely :—
State Government to determine the amount to be set apart and the sums to be transferred out of certain accounts relating to the office of the Official Assignee, Bombay. " 123A. The 1[2[State] Government] may, 3[out of sums and securities standing to the credit of the accounts of the Official Assignee, Bombay,] from time to time after consultation with the High Court of Judicature, Bombay—
- (1) determine the amount to be set apart out of—
- (i) the Unclaimed Dividend (Capital) Account, and
- (ii) the Chief Clerk and Sealer's (Insolvent Debtors' Court) Investment of Unclaimed Balances Account, for meeting the claims of creditors or debtors made within the period specified in section 122, and
- (2) transfer sums to the revenues of the 1[2[State] Government] from—
- (i) the Unclaimed Dividend (Capital) Account,
- (ii) the Unclaimed Dividend Revenue Account,
- (iii) the Chief Clerk and Sealer's (Insolvent Debtors' Court) Investment of Unclaimed Balances Account, and
- (iv) the Chief Clerk and Sealer's (Insolvent Debtors' Court) Investment of Interest Account."
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