Section 5 in The Bombay Labour Welfare Board (Reconstitution) Order, 1959.
5. Liabilities for repayment of loans made to the existing Board.
- The existing Board shall continue to be liable to repay to the Government of Bombay all loans received by it up to the appointed day from the Government of Bombay together with the interest thereon for expenditure on account of schemes. For this purpose, the existing Board shall be eligible to retain all sums paid or payable into the Fund under Section 3 of the Act in respect of the period ending on the 31st October, 1956 (whether collected before or after that date). All sums of the like kind collected in respect of the Karnataka area for the period commencing on the 1st November, 1956, and ending on the appointed day shall be paid by the existing Board to the new Board.
