Amendment status not verified — confirm the current text below against the official source.
189. (1) A person liable to pay Betterment tax may at his option instead of paying thereof to the 1 [Corporation], execute an agreement with the 1 [Corporation] to leave the said payment outstanding as a charge on his interest in the land, subject to the payment in perpetuity of interest at the rate of 6 per cent per annum. (2) A person who has exercised his option under sub-section (1) may, at any time, subject to his giving six months‘ notice of his intention, pay the amount of Betterment tax assessed under section 188.