(1)Whenever under this Act or the rules or the regulations made thereunder any person is, by reason of his -(a)receiving the rent of any immovable property as receiver or agent or trustee of such property. or(b)being such receiver or agent or trustee would receive the rent if such property were let to a tenant, bound to discharge any obligation imposed on the owner of such property but has not, at his disposal, funds belonging or payable to such owner or sufficient for the purpose of discharging such obligation, he shall, within a period of six weeks from the date of service upon him by any municipal authority or officer of the Municipality empowered in this behalf under this Act of any notice requiring him to discharge such obligation, apply to a court of competent jurisdiction for leave to raise such fund or for such directions as he may consider necessary for such purpose.(2)If such person fails to apply to a court of competent jurisdiction under sub-section (1) or, after the court has granted leave to raise funds or has issued directions, fails to discharge such obligation or to comply with such directions within twelve months of such leave or such directions, he shall be personally liable to discharge such obligation.H. Payment of Compensation
