Amendment status not verified — confirm the current text below against the official source.
(1) The Land Tribunal shall pay, the landowner and each of the intermediaries of a holding fifty per cent of the compensation payable to them in respect of that holding in accordance with the provisions of this section. [(2) The amount of compensation payable under sub-section (1) in respect of a holding shall be paid in cash in lump within a period of one year of the date on which the order the Land Tribunal under sub-section (5) of section 72F become final]. [(3) Where the amount of compensation is not paid on or before the expiry of the period of one year specified in sub-section (2), such amount shall bear interest at the rate of four per cent per annum from the date of expiry of the said period of one year.] (7) Where any amount has been deducted or reserved for payment to the holders of the encumbrances or the persons entitled to the maintenance or alimony, the same shall be paid by the Land Tribunal in their order of priority to the persons entitled thereto. (8) Where a person entitled to compensation or the value of the encumbrance, maintenance or alimony dies before it is paid to him, it shall be paid to his legal representatives: [Provided that if such person has, in accordance with the rules made in this behalf, nominated any member of his family to receive the amount, the same shall be paid to such nominee. Explanation.-- For the purposes of the preceding proviso, "member of family" means wife or husband, son or daughter]. (9) Where the person entitled to receive the compensation or the value of encumbrance is a private trust or endowment or a minor or a person suffering from some legal disability or a limited owner, the compensation or the value of encumbrance may, notwithstanding anything contained in any law, but subject to any general directions that the Government may give, be deposited for and on behalf of such person with such authority or bank as may be prescribed. (10) Where before any court or authority, any suit or proceeding is pending, which directly or indirectly affects or is likely to affect the right of any person to receive the whole or part of the compensation or the amount of encumbrance or maintenance or alimony payable under this Act, the court or authority may require the Land Tribunal to place at its disposal the amount so payable, and thereupon the same shall be disposed of in accordance with the orders of the court or authority. Substituted by Act 15 of 1976, published in K.G.Ext. No. 192 dt. 25/03/1976, for sub-sections 2, 3, 4 and 5. Prior to the substitution it read as: "(2) The amount of compensation payable under sub-section (1) in respect of a holding shall be paid in eight equal annual instalments: Provided that where the cultivating tenant has opted to pay the purchase price payable by him under Section 72L in a lump, the amount of compensation payable under sub-section (1) shall be paid in a lump. (3) The first instalment of the compensation, or, where the compensation is payable in a lump under sub-section (2), such lump sum, shall be paid within a period of one year of the date on which the order of the Land Tribunal under sub-section (5) of Section 72F has become final. (4) The second or any subsequent instalment of the compensation shall be paid within a period of one year from the date on which the previous instalment was due. (5) Where any instalment of the compensation is not paid on the due date, the amount in default shall bear interest at the rate of four per cent per annum." Substituted by Act 15 of 1976, published in K.G.Ext. No. 192 dt. 25/03/1976, for sub-section 6. Prior to the substitution it read as: "(6) Where the compensation is payable in a lump, the amount if not paid within a period of one year shall bear interest at the rate of four per cent per annum from the date of expiry of the said period of one year." Added by Act 27 of 1979, published in K.G.Ext. No. 787 dt. 03/11/1979 (w.e.f. 07/07/1979).