Amendment status not verified — confirm the current text below against the official source.
Agreement to make betterment fee a charge on land.-(1) Any person liable to pay a betterment fee in respect of any land may, at his option, instead of paying the same to the Board, execute an agreement with the Board to leave the payment outstandmg as a charge on his interest in the land, subject to the payment in perpetuity of mterest at the rate of l>ix per cent per annum, the first annual payment of such interest to be made one year from the date referred to m section 85. (2) Every payment due from any person in respect of a betterment fee and every charge referred to m sub-section (I) shall, notwithstand- ing anything contained m any other enactment and notwithstanding the existence of any mortgage or other charge, whether legal or equita- ble, created e1ther before or after the commencement of this Act, be the first charge upon the mterest of such person in such land, subject to the prior payment ofland revenue, if any, due to the Government on such land. (3) If any instalment of interest due under an agreement executed in pursuance of sub-sectiOn (I) be not pa1d on the date on which it is due, the betterment fee shall become payable on that date, in addition to the said instalment. {4) At any time after an agreement has been executed in pursu- ance of- sub-section (I), any person may pay off the charge created thereby, with the interest due up to the date of such payment. (5) When an agreement in respect of any land has been executed by any person in pursuance of sub-section· (I), no suit with respect to such agreement shall be brought against the Board by any othe1 person (except an heir, executor or admmi5trator of the person first aforesa1d) cla1ming to have an interest m the land.