In section 647 of the principal Act, the following provision shall be added at the end, namely:-
"Provided that where the proceedings in any such winding up are pending at the commencement of the Companies (Amendment) Act, 1960,-
(a) sections 463, 502, 515 and 524 shall, as far as may be, also apply in relation thereto;
(b) the liquidator appointed by the Court and functioning in any such winding up shall in such manner and at such time as may be prescribed by the Central Government, pay the moneys received by him as such liquidator, into the public account of India in Reserve Bank of India.".
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