Amendment status not verified — confirm the current text below against the official source.
()) On the vesting of the right to the minerals in any land under section 3, the person entitled to the right to the minerals in any land imme diately before such vesting shall be paid annually, in the manner pres cribed, an amount equal to ten per cent of the annual contract money or of royalty or dead rent, whichever is higher, payabie to the State Govern ment on minerals raised in a year, for a period of ten years with effect from such vesting : Provided that if no contract raise the minerals for any period, and the aforesaid period of ten extended by that period: or lease is given or the lessee does not no amount shall be paid for that period years shail be deemed to have been Providcd further that the paymént of the amount shall commence after the expiry of one year from the date of commencement of the period Explanation.Where the State Government exploits the minerals itseli, the royalty or dead, rent, whichever is higher, shall be calculated as if the State Government is the lessee. (2) The Collector shall announce in the manner prescribed an order specifying the person or persons to whom the amount shall be paid. (3) Ifthere is any dispute as to the person or persons who are entitled to the payment of an:ount, the Coliecior shall by an order decide the dispute and if he finds ihat nore tH.an cne peiscn is entitled to the amount he shall apportion the amount among such persons. of such rights. of contract or lease, as the case may be. Vesting of a in State Government. Payment of amount. 40 PUNJAB GOVT GAZ. (EXTRA), DEC. 12, 1996 _ "(AGHN. 21,1918 SAKA)