Section 29(4) in The State Financial Corporations Act, 1951
(4)[ ] [Substituted by Act 56 of 1956, Section 14, for sub-Section (4) (w.e.f. 1-10-1956). ][Where any action has been taken against an industrial concern] [ Substituted by Act 77 of 1972, Section 19, for " Wherer the management of an industrial concern is taken over by the Financial Corporation or any property is transferred and realised by it" (w.e.f. 30-12-1972).] [under the provisions of sub-section (1), all costs, ] [Substituted by Act 56 of 1956, Section 14, for sub-Section (4) (w.e.f. 1-10-1956). ] [charges and expenses which in the opinion of the Financial Corporation have been properly incurred] [ Substituted by Act 6 of 1962, Section 14, for 'charges and expenses properly incurred" (w.e.f. 16-4-1962).] [by it ] [Substituted by Act 56 of 1956, Section 14, for sub-Section (4) (w.e.f. 1-10-1956). ] [as incidental thereto] [ Substituted for " as incidental to such management, or transfer and realisation" by Act 77 of 1972, Section 19 (w.e.f. 30-12-1972).] [shall be recoverable from the industrial concern and the money which is received by it ] [Substituted by Act 56 of 1956, Section 14, for sub-Section (4) (w.e.f. 1-10-1956). ] [* * *] [ The words " from such management, or transfer and realisation" omitted by Act 77 of 1972, Section 19 (w.e.f. 30-12-1972).] [shall, in the absence of any contract to the contrary, be held by it in trust to be applied firstly, in payment of such costs, charges and expenses and, secondly, in discharge of the debt due to the Financial Corporation, and the residue of the money so received shall be paid to the person entitled thereto.] [Substituted by Act 56 of 1956, Section 14, for sub-Section (4) (w.e.f. 1-10-1956). ]
