Amendment status not verified — confirm the current text below against the official source.
This proviso was substituted by Guj. 18 of 2019, s. 5 (1) (b). Bom. V of 1879. 10 Saurashtra Gharkhed, Tenancy Settlement and Agricultural Lands Ordinance, 1949. [ 1949 : Sau Ord. XLI (3) (a) The purchaser shall comply with the provisions of any law for the time being in force or any order or direction of the Central Government or State Government or any Corporation owned or controlled by such Government, Government Company, local authority or statutory authority in relation to use of land for industrial purpose before the land is put to use for such purpose. (b) The purchaser to whom a certificate is issued under sub clause (i) of clause (c) of sub-section (2) shall commence industrial activity on such land within three years from the date of certificate and commence production of goods or providing of services within five years from such date: Provided that the period of three years or, as the case may be five years may, on an application made by the purchaser in that behalf, be extended from time to time, by the State Government or such officer, as it may, by an order in writing, authorise in this behalf, in such circumstances as may be prescribed: 1[Provided further that where the land is sold to a purchaser which is a company as defined by clause (20) of section 2 of the Companies Act, 2013, it may offer the equity shares of the company, to the person by whom such land is being sold, in lieu of the sale price of such land and if such person is in agreement for accepting such equity shares, either in full or partly, then it shall be incumbent upon such company to allot such equity shares of equivalent amount, either in full or partly, to such person.] 2[(3A) In case where the purchase fails to commence the production of goods or providing of services within three years from the date of certificate issued under sub-clause (ii) of clause (c) of sub-section (2) or thereafter, the Collector may, after an application is made to him in that behalf grant permission by an order for sale or transfer of such land: 3[Provided that such permission shall be granted by the Collector only upon the payment of- (a) 100 per cent. of the prevailing jantri value, if the application is made after a period of three years but before completion of a period of five years from the date of certificate as referred to in sub-clause (i) of clause (c) of sub-section (2); (b) 60 per cent. of the prevailing Jantri value, if the application is made after a period of five years but before the completion of a period of seven years from the date of certificate as referred to in sub-clause (i) of clause (c) of sub-section (2); (c) 30 per cent. of the prevaling jantri value, if the application is made after a period of seven years but before compltion of a period of ten years from the date of certificate as referred to in sub-clause (i) of clause (c) of sub-section (2); (d) 25 per cent. of the prevailing jantri value if the application is made beyond ten years: Provided however that,- (i) such permission for sale of such land shall be granted only for the bonafide industrial purpose and in case the industrial purpose usage is not permissible under the Common General Development Control Regulations, such permission shall be granted only for the purpose of use of such land as per the zone declared in the Common General Development Control Regulations; (ii) clauses (a) to (d) shall not apply in the cases of the land which is purchased for bonafide industrial purpose and which needs to be transferred in the case of merger, amalgamation, joint venture, subsidiary company, group company and associate company, conversion of partnership in the company and vice versa or into limited liability partnership, change in partners but in such cases permission shall be granted after charging of 10 per cent. of the prevailing jantri value;