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[Cites 0, Cited by 0] [Section 39] [Entire Act]

Union of India - Subsection

Section 39(2) in The Banking Regulation Act, 1949

(2)[ Subject to such directions as may be made by the High Court, the remuneration of the official liquidator appointed under this section, the cost and expenses of this establishment and the cost and expenses of the winding up shall be met out of the assets of the banking company which is being wound up, and notwithstanding anything to the contrary contained in any other law for the time being in force, no fees shall be payable to the Central Government, out of the assets of the banking company.] [Inserted by Act 58 of 1968, Section 16 (with retrospective effect).]