The Gazette of India
EXTRAORDINARY
PART II—Section 1
PUBLISHED BY AUTHORITY
No. 36] NEW DELHI, WEDNESDAY, JULY 4,1979/ASADHA 13, 1901
Separate paging is given to this Part in order that it may be filed as a separate compilation
MINISTRY OF LAW, JUSTICE AND COMPANY AFFAIRS (Legislative Department)
New Delhi, the 4th July, 1979/Asadha 13, 1901 (Saka)
THE ADDITIONAL EMOLUMENTS (COMPULSORY DEPOSIT) AMENDMENT ORDINANCE, 1979
No. 5 OF 1979
Promulgated by the President in the Thirtieth Year of the Republic of India.
An Ordinance further to amend the Additional Emoluments (Compulsory Deposit) Act, 1974.
WHEREAS Parliament is not In session and the President is satisfied that circumstances exist which render it necessary for him to take Immediate action;
Now, THEREFORE, in exercise of the powers conferred by clause <1) of article 123 of the Constitution, the President is pleased to pro- mulgate the following Ordinance:—
1. (1) This Ordinance may be called the Additional Emoluments short title (Compulsory Deposit) Amendment Ordinance, 1979. and com-
mence- (2) It shall come Into force at once.
Z. During the period of operation of this Ordinance, the Additional 37 Q(
284 THE GAZETTE OF INDIA EXTRAORDINARY [PART II—SBC. 1] —"^•— " L^ i • -Insertion 3. In the principal Act, after section 9, the following section shall be of new inserted, namely:— flection 9A. Deferment "9A. (1) Notwithstanding anything contained In section 9 but of repay- without prejudice to the provisos to sub-section (1) and the pro- payment of $siQns ot subjection (5) of that section, the payment of every certain dmount (whether by way of any instalment or interest) which be- amounts. comes repayable or payable on or after the 6th day of July, 1979 under sub-section (2) or sub-section (3) or sub-section (4) of section 9 shall be deferred by one year and accordingly every such amount shall be repayable or payable in the manner provided with respect thereto in that section with interest thereon under sub-section (2) on the expiry of one year from the date on which such amount would have been, but for the provisions of this section, repayable or payable under that section.
(2) Notwithstanding anything contained in sub-section (1) of section 7, every amount (whether by way of instalment or interest) the payment whereof has been deferred under sub-section (I) shall, during the period of such deferment carry simple interest at a rate which shall be four per cent, over and above the bank deposit rate.
(3) The provisions of sub-sections (2), (3) and (4) of section 7 [including the provisions as to calculation of interest in the scheme referred to in the said sub-section (2)] shall apply in relation to any interest utider sub-seotion (2) of this section as they apply in relation to any interest under section 7.".
N. SANJIVA REDDY,
President.
R. V. S-. PERI SASTRI,