Section 23 of Madras Race Club (Acquisition and Transfer of Undertaking) Act — Undisbursed or unclaimed amount to be deposited with general revenue account
Bare section text
Official Legislative Text
Undisbursed or unclaimed amount to be deposited with general revenue account.-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 wound up, to the general revenue account of the Government ; but a claim to any money so transferred may be preferred to the Government by the person entitled to such payment and shall be dealt with as if such transfer had not been made, and the order, if any, for payment of the claim being treated as an order for the refund of revenue.
Educational Study Layer
Summary
- Any money paid to the Commissioner that remains undisbursed or unclaimed before the final winding up of the Commissioner's office must be transferred to the general revenue account of the Government.
- The transfer of undisbursed or unclaimed money must take place on the date immediately preceding the date on which the office of the Commissioner is finally wound up.
- A person entitled to any payment so transferred retains the right to prefer a claim for that money directly to the Government.
- The Government must deal with any claim to transferred funds as if the transfer to the general revenue account had not been made.
- Any order issued by the Government for payment of such a claim is treated as an order for the refund of revenue.
Practical examples
FAQ
1. Where does unclaimed compensation money go when the Commissioner winds up under Section 23?
Under Section 23 of this Act, any money that remains undisbursed or unclaimed must be transferred by the Commissioner to the general revenue account of the Government before his office is finally wound up.
2. When must the Commissioner make the transfer of unclaimed funds under Section 23?
Under Section 23 of this Act, the transfer must be made on the date immediately preceding the date on which the office of the Commissioner is finally wound up.
3. Can a creditor still get paid after the Commissioner's office has closed under Section 23?
Yes, under Section 23 of this Act, a person entitled to such payment may prefer a claim to the Government, which will deal with it as if the transfer had not been made.
4. How is an approved claim paid out by the Government under Section 23?
Under Section 23 of this Act, an order for payment of the claim by the Government is treated as an order for the refund of revenue.
Practice Quiz
Q1.On the date immediately preceding the final winding up of the Commissioner's office, 50,000 rupees in admitted claims remain unclaimed. Under Section 23 of this Act, what action must the Commissioner take?
Q2.A creditor files a claim for 20,000 rupees with the Government after the Commissioner's office has already been wound up. Under Section 23 of this Act, how must the Government handle this claim?
Q3.When the Government approves payment for an undisbursed claim under Section 23 of this Act, how is the payment order classified?
Q4.Comparing Section 22 and Section 23 of this Act, how do their destinations for remaining funds differ?