Amendment status not verified — confirm the current text below against the official source.
( l) \Vhere any land acquired under this Act is subject to a mortgage or charge, the credi- tors shall within 30 days from lhe date of acqui- ~;ition, prefer a claim in \\Tiling before the l)rputy Commis~;ioncr or any other officer autho- risc'cl in th' s behalf. who shall thereupon proceed \Yit 11 aml dispose of the claim. (2) The creditor shall be paid out of the compensation money to llw extcnl 0f the claim t'slahlishcd under suh-;,ection (1). (3) \Yhc"C tlwre are more 1han one credi- tor. payment to them shall be made in the order of prioritv determined by s11ch officer. ( 4) Payment to the creditor mav be made in one or more instalments but in no case shall the annual amount of compensation payable to an institution fall bclo\Y ()0 per cPn~ o!' the nnnu itY determined by such ofiicer after deduc- tion of arrears of reYcm1e, if any, under Sec- tion 12. , ( 5) In case of anv dispute as to the person or pcrsrms '"ho arc cntitlctl to be paid out of the con1ne11sation money under the preceding sub- ~;cction;, , the iimount· shal1 h' ~tent in deposit in Goven1ment Treasury. ard the dispul~ shall he referred to the, CiYil Court of compelci1t jurisdic- tion, ar•d the amount shall then be paid in terms of the final decision of the Court. Appeal.