Amendment status not verified — confirm the current text below against the official source.
( 1 ) The amount of compensation may, subject to the provisions of sub-section ( 3 ), be payable in transferable bonds carrying interest at three per cent. per annum. ( 2 ) The bonds shall be- ( a ) of the following denominations, namely :- Rs. 50; Rs. 100; Rs. 200; Rs. 500; Rs. 1,000; Rs. 5,000 and Rs. 10,000; and (b) of two-classes-one being repayable during a period of twenty years from the date of issue by equated annual installment of principal and interest, and the other being redeemable at par at the end of a period of twenty years from the date of issue. It shall be at the option of the person receiving compensation to choose payment 1 in one or other class of bonds, or partly in one class and partly in another]. ( 3 ) Where the amount of compensation or any part thereof, cannot be paid in the aforesaid denomination, it may be paid in cash.