section 11
Insertion of new sections
The Presidency-towns Insolvency (Tamil Nadu Amendment) Act, 1943Corporate194312 sections
Statutory text
After section 82 of the said Act, the following sections shall be inserted, namely :- "82-A.
- (1) Where the official assignee has incurred whether before or after the commencement of the Presidency-towns Insolvency (Tamil Nadu Amendment) Act, 1943, in the matter of any insolvency-
- (a) any costs in legal proceedings taken by him under the direction of the Court, or
- (b) any civil liability bona fide in the discharge of his duties, the revenues of the [State] shall be liable for the payment of such costs or to meet such liability, in so far as assets realized and not distributed by the official assignee in respect of such insolvency are insufficient to pay such costs or to meet such liability.
- (2) Any sum paid out of the revenues of the [State] under sub-section
- (1) in respect of an insolvent's estate shall be repaid to the [State] Government by the official assignee out of any assets of the estate which may subsequently become available, in priority to all other claims and charges on such assets other than fees and percentages chargeable by the official assignee under this Act.
Study data processing for this section.
PDF: pending for this language.