Section 3B in The Calcutta National Medical College And Hospital Act, 1967
3B. [ Amount to be paid. - [Section 3B inserted by W.B. Act 34 of 1976.]
(1)The State Government shall deposit, in cash in the Court of the District Judge of 24-Parganas to the credit of the Board of Trustees of the Calcutta National Medical Institute, a society registered under the Societies Registration Act, 1860, being owners of the properties of the institution, an amount calculated at the rate of rupees one hundred for every year or part thereof during which the management of the institution remained vested in the State Government, for the vesting in the State Government of such management, and the Court shall, upon application, authorise the State Government to utilise the amount so deposited for the persons who are beneficially entitled to the assets of the institution under the trust].(2)The State Government shall also deposit in cash, in the said Court to the credit of the Board of Trustees of the Calcutta National Medical Institute aforesaid, an amount equal to the sum of five thousand rupees for the transfer to, and vesting in, the State Government under section 3A, of the institution together with all its properties.(3)For the avoidance of doubts it is hereby declared that the liabilities of the institution in relation to its properties which have vested in the State Government under section 3A, shall be met from the amount referred to in sub-section, (2).(4)In meeting the liabilities of the institution in relation to its properties which have vested in the State Government under section 3A, the Court shall distribute the amount referred to in sub-section (2), amongst the creditors of the institution, whether secured or unsecured, in accordance with their rights and interests, and if there is any surplus left after such distribution, the same shall be allowed.by the Court, upon application, to be utilised by the State Government for the persons beneficially entitled to the assets of the institution under the trust.
