Section 12
Undisbursed or unclaimed amount to be deposited to the general revenue account.
The British India Corporation Limited (Acquisition of Shares) Act, 1981
About this Act
An Act to provide for the acquisition of certain shares of the British India Corporation Limited with a view to securing the proper management of the affairs of the Company and the continuity and development of the production of goods which are vital to the needs of the country and for matters connected therewith or incidental thereto.
Any
money paid to the Commissioner which remains undisbursed or unclaimed on the date immediately
preceding the date on which the office of the Commissioner is finally wound up, shall be transferred by
the Commissioner before his office is finally would up to the general revenue account of the Central
Government; but a claim to any money so transferred may be preferred to the Central Government by the
person entitled to such payment and shall be dealt with as if such transfer had not been made, the order, if
any, for payment of the claim being treated as an order for the refund of revenue.