Section 26
Undisbursed or unclaimed amounts to be deposited to the general reserve account.
The Textile Undertakings (Nationalisation) Act, 1995
About this Act
An Act to provide for the acquisition and transfer of the textile undertakings, and the right, title and interest of the owners in respect of the textile undertakings, specified in the First Schedule with a view to augmenting the production and distribution of different varieties of cloth and yarn so as to subserve the interests of the general public and for matters connected therewith or incidental thereto.
Any
money paid to the Commissioner which remains undisbursed or unclaimed for a period of three years
from the last day on which the disbursement was made, shall be transferred by the Commissioner 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.