Amendment status not verified — confirm the current text below against the official source.
All laws in force in the Union territory corresponding to the provisions of this Act shall stand repealed as from the coming into force of this Act: Provided that anything done or any action taken, including any notification, instruction or direction issued, properties distrained or sold, under the law so repealed, shall be deemed to have been done or taken under the provisions of this Act and shall continue to be in force accordingly unless and until superseded by anything done or any action taken under this Act. ________ 401 STATEMENT OF OBJECTS AND REASONS FOR ACT 14 OF 1970 At present the French Law for the recovery of arrears of revenue is being followed in this Union Territory. This law has several infirmities and the procedure is cumbrous. There is also no provision enabling the Government to recover amounts due to the other State Government and Central Government. Very frequently, this Administration has also to approach the other State Governments for recovery of amounts due to this Government from persons residing outside the Union Territory. In order to remedy these defects, it has been, decided to enact a self-contained legislation on the lines of the Madras Revenue Recovery Act, 1864 with suitable modifications to this territory. STATEMENT OF OBJECTS AND REASONS ACT 11 OF 1973 The Puducherry Revenue Recovery Act, 1970 (No.14 of 1970) came into force in this Union territory on the 1st day of August, 1970. Section 24 (2) of the Act provides that where a property destrained for arrear of revenue fetches at a resale a higher price than what it had fetched at the first sale the increase shall be paid to the defaulter. So, it is not possible to adjust the increase towards the arrears of revenue for which distraint was made. With a view to enable such adjustment, it is proposed to suitably amend section 24 (2) of the Act. The Bill seeks to achieve the above object. STATEMENT OF OBJECTS AND REASONS FOR ACT 12 OF 1988 The Puducherry Revenue Recovery Act, 1970 at present, defines the expression “Collector” in clause (a) of section 2 to mean specified officers. It is necessary to take powers to appoint any officer to perform the functions of the Collector under the said Act so that when new functionaries are created for revenue recovery they can be vested with the powers of the Collector. It is therefore proposed to amend clause (a) of section 2 of the said Act for the purpose. 402 STATEMENT OF OBJECTS AND REASONS FOR ACT 8 OF 1990 The Puducherry Revenue Recovery Act, 1970 at present prescribes levy of interest on arrears of revenue at 6 per cent per annum. With the amendment of the State Financial Corporations Act, 1951, the loans advanced by the Financial, Industrial Development Corporations can also be recovered as arrears of land revenue under the Revenue Recovery Act of the State. In many cases, where the repayment of loan has not been done, action has been taken to recover the same under the Puducherry Revenue Recovery Act, 1970. The Puducherry Industrial Promotion Development and Investment Corporation is getting funds from the Industrial Development Bank of India at 9.5 per cent rate of interest. When the arrears of loans are only charged with 6 per cent interest under the recovery proceedings of the Puducherry Revenue Recovery Act, 1970, the Corporation is at a loss. With a view to avoid the loss that the Corporation may sustain on account of the difference in the rate of interest paid by the Corporation with those chargeable on the defaulting loanees of the Corporation under the revenue recovery proceedings and also in view of the hike in Bank interest rates at present, it is proposed to revise the rate of interest on the arrears of revenue under the Puducherry Revenue Recovery Act from 6 per cent to 12 per cent. It is also expected that the revision will also induce the loanees to effect prompt repayment in future. It is therefore proposed to amend suitably the provisions of section 7 of the said Act of the said purposes. The Bill seeks to achieve the above object. ______