Amendment status not verified — confirm the current text below against the official source.
(1) Whenever in any locality comprised in any scheme under this Act, the State Government has sanctioned the acquisition of land which is subsequently discovered to be unnecessary for the execution of the scheme, the owner of such land or any person having an interest therein, may make an application to the trust requesting that the acquisition of such land be abandoned in consideration of the payment by him of a sum to be fixed by the trust in that behalf. (2) The trust shall admit every such application if it — (a) reaches it before the time fixed by the Collector, under section 9 of the Land Acquisition Act, for making claims in reference to the land; and (b) is made by any person, who either owns the land, is mortgagee thereof, or holds a lease thereof, with an unexpired period of seven years and by any other person having an interest in the land. (3) On the admission by the trust of any such application, it shall forthwith inform the Collector, and the Collector shall thereupon stay for a period of three months all further proceedings for the acquisition of the land, and the trust shall proceed to fix the sum in consideration of which the acquisition of the land may be abandoned. Submitting explanation. Acquisition of land. Abandonment of acquisition. TOWN IMPROVEMENT (4) Within the said period of three months or with the permission of the trust, at any time before the Collector has taken possession of the land under section 16 of the Land Acquisition Act, the person from whom the trust has agreed to accept the sum so fixed may, if the trust is satisfied that the security offered by him is sufficient, execute an agreement with the trust either— (i) to pay the said sum three years after the date of the agreement; or (ii) to leave the said sum outstanding as a charge on his interest in the land, subject to the payment of interest at a rate to be agreed upon by such person and the trust until the said sum has been paid in full and to make the first annual payment of such interest four years after the date of the agreement : Provided that the trust may, at any time before the Collector has taken possession of the land under section 16 of the Land Acquisition Act, accept immediate payment of the said sum instead of an agreement as aforesaid. (5) When any agreement has been executed in pursuance of sub-section (4) or when any payment has been accepted in pursuance of the proviso to that sub-section in respect of any land, proceedings for the acquisition of the land shall be deemed to have been abandoned. (6) Every payment due from any person under any agreement executed under sub-section (4), shall be a charge on the interest of that person. (7) If any instalment of interest payable under an agreement executed in pursuance of clause (ii) of sub-section (4) be not paid on the due date, the sum fixed by the trust under sub-section (3) shall be payable on that date, in addition to the said instalment. (8) At any time after an agreement has been executed in pursuance of clause (ii) of sub-section (4), any person may pay in full the charge created thereby, with interest, at the agreed rate, up to the date of such payment. (9) When an agreement in respect of any land has been executed by any person in pursuance of sub-section (4), no suit with respect to such agreement shall be brought against the trust by any other person (except an heir, executor or administrator of the person first aforesaid) claiming to have an interest in the land. TOWN IMPROVEMENT (10) When an agreement in respect of any land has been executed by any person in pursuance of sub-section (4), and any sum payable in pursuance of that sub-section is not duly paid, the same shall be recoverable by the trust (togetherwith interest up to the date of realization at the agreed rate), from the said person or his successor having interest in such land as arrears of land revenue.