Section 22
Disbursement of money by the Commissioner.
The National Company Limited (Acquisition and Transfer of Undertakings) Act, 1980
About this Act
An Act to provide for the acquisition and transfer of the undertakings of Messrs. National Company Limited with a view to securing the proper management of such undertakings so as to subserve the interests of the general public by ensuring the continued manufacture, production and distribution of articles made of jute, which are essential to the needs of the economy of the country and for matters connected therewith or incidental thereto.
After admitting a claim under this Act, the
amount due in respect of such claim shall be paid by the Commissioner to the person or persons to whom
such amount is due and on such payment, the liability of the Company in respect of any claim relating to
the undertakings owned by it shall stand discharged.