Section 9(1)(iii) in The Shipping Development Fund Committee (Abolition) Act, 1986

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Union of India - Subsection

Section 9(1)(iii) in The Shipping Development Fund Committee (Abolition) Act, 1986

(iii)use, operate, charter or lease such ship or other assets to generate incomes, rents or profits to meet the liabilities of the shipowner to the Central Government under the mortgage, hypothecation or charge, and pay the residue, if any, of the money received by him to the person who, but for the appointment of the 1319 receiver, would have been entitled to receive the income of which he is appointed receiver, or who is otherwise entitled to such property.

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Union of India - Subsection

Section 9(1)(iii) in The Shipping Development Fund Committee (Abolition) Act, 1986