Amendment status not verified — confirm the current text below against the official source.
(1) After the net income has been computed under section 16, the Compensation Officer ion. Shall 1 * * * * * proceed to detemine the amount of compensation payabloe to intermediaries in accordance with the following table, namely :--- Table Net income. Amount of compensation payable. For the first Rs. 500 of less of net income. Twenty times of such net income. For the next Rs. 500 or less of net income. Eighteen times of such net income. For the next Rs.1000 or less of net income. Seventeen times of such net income. For the next Rs. 2,000 or less of net income. Twelve4 times of such net income. For the next Rs. 1,000 or less of net income. Tem times of such net income. For the next Rs. 15,000 or less of net income. Six times of such net income. For the next Rs. 80,000 or less of net income. Three times of such net income. For the balance of the net income. Two times of such balance of net income. 2Provided that in the case of an intermediary referred in clause (i) of sub-section (1) of section 6, compensation payable to such intermediary shall be perpetual annuity3, or where the interest of the intermediary is terminable or is liable to be exhausted, an annuity for such number of years as 3[may be prescribed ], having regard to the circumstances, equal to the net annual income from the estate or interest of such intermediary excluding the portion thereof which the intermediary has retained under the provisions of sub-section (1) of section 6: ---------------------------------------------------------------------------------------------------------------------------- 1The words,”for the purpose of preparing the Compensation assessment Roll for the notified area,” were omitted by s.11 of the West Bengal Estates acquisition (Amendment) Act , 1960 (West Ben. Act XVII of 1960). 2This proviso was substituted with retrospective effect for the original proviso by s. 9 of the west Bengal Estates Acquisition (Amendment) Act. 1955 (West Ben. Act XXXV of 1955). 3The words, “or where the interest of the intermediary is terminable or is liable to be exhausted, an annuity for such number of years as the State Government may prescribe by rules, having regard to the circumstances ,” were inserted with retrospective effect by s. 9 of the West Bengal Estate Acquisition (Amendment) Act, 1957 (West Ben. Act IV of 1957), and thereafter the words within the square brackets were substituted for the words “the State Government may prescribe by rules” by s. 11(b) of the West Bengal Estates Acquisition (Amendment) Act, 1960 (West Ben. Act XVII of 1960). 34 Page. ….30. ( Chapter III. – Assessment and payment of compensation.--- Section 17.) 1Provided further that in the case of an intermediary--- (a) Whose income consisted only of rent in kind the commuted value of which does not exceed Rs. 1,000 per year, or (b) whose income from rent in kind taking the commuted value thereof together with his other income from his estates or interests which have vested in the State under section 5 does not exceed the sum mentioned in clause (a). the compensation payable to such intermediary shall be an annuity, payable for a period of twenty-five years, equal to the net annual income from the estates or interests in respect of which the intermediary received rent in ki9nd and in the case of an intermediary mentioned in clause (b) , the amount of such annuity shall be excluded from his net income for the purpose of assessing the compensation payable to him under the general provisions of sub-section (1). (2) (a) Where an intermediary is the holder ofa temporary interest the compensation payable to such intermediary n respect of such interest2 [shall not exceed the amount of net income which the intermediary woruld have derived from such interest during the unexpired period thereof],or (b) where the interest of an intermediary is subject to a usufructuary mortgage, the compensation payable tomsuch intermediary shall be apportioned between him and his usufructuary mortgageee 3[in such proportions as may be just and fair having regard to the nexpired period of the usufructuary mortgage]; 5(3) The sum referred to in sub-clause (v) or sub-clause (vi) of clause (b) of sub-section (1) of section 16 shall be payable to the corporation, institution or person, as the case may be, as a perpetual annuity. ---------------------------------------------------------------------------------------------------------------------------- 1The further proviso was added by s. 9(1) of the West Bengal Estates acquisition (Amendment) act, 1961 (West Ben. Act IX of 1961). 2These words within the quare brackets were substituted for the words”shall be paid out of the compensation which would,but for the existence of such tempiorary interest, be payable to his immediate superior landlord” by s. 9(2) (a) , ibid. 3These words within the sqare brackets were inserted by s. 9(2)(b) , ibid. 4The words beginning with “and the Compensation Officer” and ending with “temporary interest or the usufructuary mortgage” were omitted by s. 9(2) © ibid. 5Sub-section (3) was originally added by s. 9(3) of the West Bengal Estates Acquisition (Amendment) Act, 1961 (West Be. Act IX of 1961) and thereafter this sub-section was substituted s. 6 of the West Bengal Estates Acquisition (Amendment) Act, 1963 (West Be. Act XXII of 1963). 35 Page. ….31. ( Chapter III. – Assessment and payment of compensation.___ Sections 18-21.)