Amendment status not verified — confirm the current text below against the official source.
(1) Within one month of his appointment, or such Choice of baa of compensa- h ~ t h e ~ time as inay be granted by the Government, the tion. accredited representative shall int ima ta to the Governmem in writing which basis of compensation, A, B or C, shall be I adopted in respect of the undertaking. (2) The choiw of the basis of compensation once inti- mated to the Governmefit shall not be open to revision except with thei~ concurrance. (3) Whare no choice has been intimated on behalf of the undertaking within the time allowed by sub-section (I), tb.e Government shall declare the basis undl:r which com- pensation will be paid f o ~ the undertakilsg and that basis WE be binding on the licensee as if the choice had been duly made in accordance with the folqegoing provisions. (4) Where in respect of an undertaking taken over, the accredited repr ssentative has intimated to the Govetn- compensation, Ai B or C, should be tlzo undertaking, such intimation shall been made under. this section and is dec1ara.I not open to sevisiorr exccpt with the con- of the Go~~~mt:rmt. rnment are of opinion that any 1 icensee ~ e ~ ~ t oftva. st October 1947, disposed of any fixed sactions not by way of sale, exchange, gift, lease OE other- bon*de ed capital expenditme otherwise thahan in the .a 1- -"' - . . .A .. .*I* r().L%IL1 ~&rtakin& (Acquisition) normal course of events with a view to benefit unduly the licensee ol: some other parson and thereby caused loss to the Government ai iuzcecil ing owners of the uncit.rtaking, the Goilern1n:ilt sl-iall be and shall bi: deemed always to have been entitled to doduct from the compensation payable to the licensee under this Act, an amount which they consi- der or considered to be the loss sustained by them: Provided 'hat notice of r he intention to nlake such deduction shall be or shall have been given 1.0 the licensee within one year from tha vesting date. Dedunions