Amendment status not verified — confirm the current text below against the official source.
(1) The purchase price of the land assigned on registry under section 96 shall be an amount [calculated at the rate specified in Scheduled IV and shall be payable either in lump or in sixteen equal annual instalments. The assignment shall be made on payment of the purchase price either in lump or the first instalment thereof. (2) Where the purchase price is payable in instalments, the amount outstanding after payment of each instalment shall bear interest at the rate of 4 1/2 percent per anum. (3) All amounts due from an assignee shall be a first charge on the land assigned and shall be recoverable as arrears of land revenue under the Revenue Recovery Act for the time being in force. Substituted by Act 25 of 1971.