Amendment status not verified — confirm the current text below against the official source.
Payment of amount.- (1) The amount shall be due as from the appointed date and shall carry interest at the rate of two and three fourths per cent per annum from the appointed date to the date of payment. (2) The amount payable under this Act may, in accordance with the rules made in this behalf, be paid in one or more of the following modes, namely:- (i) in cash in full or in annual instalments not exceeding ten ; (ii) in bonds, either negotiable or not negotiable carrying interest at the rate specified in sub-section (1) and of guaranteed face value maturing within a specified period not exceeding ten years : Provided that the amount payable under the bonds issued under this clause may be repaid in such number of instalments not exceeding ten as may be prescribed.