Section 23
Undisbursed or unclaimed amount to be deposited with the general revenue account. Repealed
The Smith, Stanistreet and Company Limited (Acquisition and Transfer of Undertakings) Act, 1977
About this Act
An Act to provide for, in the public interest, the acquisition and transfer of the right, title and interest of the undertakings of Messrs. Smith, Stanistreet and Company Limited, Calcutta 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 the revenue.