Amendment status not verified — confirm the current text below against the official source.
Principles sin method or determining oompensation:—(l) The agmeuntfof ‘ compensation payable in steepectbf any firefighting propertyf acquiged, «under “this Act shall be the prevailing market value of csuch’propertyon i.th,e’dat9;:_.gf * ‘issue‘ of 'the notice referred to in section 27. 9 , ,.rr- _’___ (2) the amount of compensation shall be determined in the manneranfl in accordance withtthe principles hereinafter set out, that is to say-— - 7 (a) where the amount of compensation can be fixed by agreement, it shall be paid in accordance with such agreement; (13) where no such agreement can be reached, ' the State Government shall appoint arbitrator, a person who is or has been or is qualified for appointment as a District and Sessions Judge; " , , ’ (c) the State Government may in any particular case nominate apersan :' _ having expert knowledge as to the nature of the property acquired to assist the arbitrator and where such nomination is made, the Lane! Authority concerned may also nominate an assessor for the same Purpose; , _ ‘ y (d) at the commencement of the proceedings before the arbitrator, the W State Government and the Local Authority shall state what in ‘ _ , their respective opinions is a fair amount of compensation; ,_ A (e) L The arbitrator shall, after hearing the dispute, make an award determining the amount of COmpensation which appears to him, to be just and in making the award he shall have clue regard to the circumstances of each case and the provisions of this section and nothingin the Arbitration Act, 1946 shall apply to arbitratipns \ under this section. ; ' - ‘ "