Amendment status not verified — confirm the current text below against the official source.
Abandonment of acquisition in consideration of special payment. - (1) Wherever in any locality comprised in any scheme under this Act the State Gov- ernment has sanctioned the acquisition of land which is subsequently discovered to be unnecessary for the execution of the scheme the owner of such land, or any person having an interest therein, may make an application to the trust requesting that the acquisition of such land be abandoned in consideration of the payment by him of a sum to be fixed by the trust in that behalf. [Provided that no land shall be deemed to be unnecessary for the execution of the scheme, unless the State Government, after making such enquiry as it may deem fit, declares it to be so by a notification in the Official Ga- zette]1 (2) The trust shall admit every such application if it - (a) reaches it before the time fixed by the Collector, under section 9 of the Land Acquisition Act, 1894, for making claims in reference to the land, and (b) is made by any person, who either owns the lands, is mortgagee thereof, or holds a lease thereof, with an unexpired period of seven years. (3) The trust may admit any such application presented by any other person hav- ing an interest in the land. (4) On the admission by the trust of any such application, it shall forthwith in- form, the Collector and the Collector shall thereupon stay for a period of three months all further proceedings for the acquisition of the land, and the trust shall proceed to fix the sum in consideration of which the land may be abandoned. (5) Within the said period of three months, or, with the permission of the trust, at any time before the Collector has taken possession of the land under section 16 of the Land Acquisition Act, 1894, the person from whom the trust has agreed to accept the sum so fixed may, if the trust is satisfied that the security offered by him is sufficient, execute an agreement with the trust either - (i) to pay the said sum three years after the date of the agreement, or (ii) to leave the said sum outstanding as a charge on his interest in the land, subject to the payment of interest at a rate to be agreed upon by such per- son and the trust until the said sum has been paid in full and to make the first annual payment of such interest four years after the date of the agree- ment : Provided that the trust may, at any time before the Collector has taken pos- session of the land under section 16 of the Land Acquisition Act, 1894, accept immediate payment of the said sum instead of an agreement as aforesaid. The Punjab Town Improvement Act, 1922 Section 56 33