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[Cites 0, Cited by 0] [Section 3] [Entire Act]

State of West Bengal - Subsection

Section 3(2) in The Indian Electricity (West Bengal Amendment) Act, 1980

(2)The debt referred to in sub-section (1) shall, on adjustment of the amount, if any, due from the employee to the licensee on the date referred to in sub-section (1), have preference to all other debts and obligations except mortgage, and shall be payable out of the purchase price after deduction therefrom of the amount that may be due from the licensee under mortgage, if any.