section 7
Insertion of a new section 121A in Act III of
The Presidency-Towns Insolvency (Bombay Amendment) Act, 1933Corporate193312 sections
Statutory text
After section 121 of the said Act, the following section shall be inserted, namely :-
Transfer of certain funds, to Provincial Government. " 121A. The sums and securities standing to the credit of— 2[(a)]
- (1) the Unclaimed Dividend (Capital) Account less the sum of Rs. 50,000,
- (2) the Unclaimed Dividend Revenue Account less the sum of Rs. 25,000,
- (3) the Chief Clerk and Sealer's (Insolvent Debtors' Court) Investment of Unclaimed Balances Account less the sum of Rs. 20,000, and
- (4) the Chief Clerk and Sealer's (Insolvent Debtors' Court) Investment of Interest Account, with the High Court of Judicature, Bombay, 3and (b)
- (1) the Unclaimed Dividend (Capital) Account less the sum of Rs. 7,500,
- (2) the Unclaimed Dividend (Revenue) Account less the sum of 3,000, and
- (3) the Official Assignee's Fund, with the Court of the Judicial Commissioner of Sind, are hereby transferred to the 4[5[State] Government] : Provided that the revenues of the 4[5[State] Government] shall be liable to make good all sums required to meet the claims upon the said sums and securities of persons entitled thereto."
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