Amendment status not verified — confirm the current text below against the official source.
- .. *Substituted for the words “‘State Government” by the Punjab ‘Re-orgamsa- .1“9%% (Chandigarh) (Adaptation of Laws on State and Concurrent Subjects) Order, OF MORTGAGED 1938: Pb. Act Iv,] LANDS ich this Act applies, the Cgy e]su;(:)fwt}llie benefits enjoyed by the moi(t:: . ion i han twice the amoy gagee while " pos s::isgl?nr;;lsylzidsvgnced and some Payxlxlfegf 1[:1 2tifirg:$%g tlie mortgagee accordél}gl_go vgfil ;ergi ((i)f the rilortgage the Collector shall, by ordr other éna tIIOt~ withstanding anything contained in aflyh land bo Ctmeng for the time being in force direct that the iied res{)?red to the mortgagor and he be put into p%sseth s1t1 ject, however, to the payment of compensation yt h e H}Ofi gagor to the r;wrtgagee at rates not exceeding the fo Owing scale:— " (i) thi imes the land revenue assessed on the & tl;;r;g attlrtlfies time when it was mortgaged if the mortgagee has been in possession for a period exceeding thirty years but not exceeding forty years; (if) fifteen times the land revenue assessed on the land at the time when it was mortgaged if the mortgagee has been in possession for a period exceeding forty years but not exceeding fifty years; (#ii) five times the land revenue assessed on the land at the time when it was mortgaged if the mortgagee has been in possession for a period exceeding fifty years, Explanation.—The Collector shall for_the burposes of this sectjon compute the period of possession from the date on which the mortgagee entered into possession to the date of the presentation of the petition under section 4. "o Teiston