Amendment status not verified — confirm the current text below against the official source.
(1) For the transfer to, and vesting in, the State Government of the Institution under section 3, the compensation payable by the State Government for the lands and buildings shall be such as may be determined by the Competent Authority referred to in sub-section (3) of this section 1 of 1894 applying mutatis mutandis the provisions of the Land Acquisition Act, 1894 subject to the deduction of all liabilities relating to the lands and buildings and subject further to the condition that in respect of the lands and buildings which the General Council of Niramoy or its promoters received as gifts or donations or for permissive use from the original owners thereof, the compensation shall be determined and pay- able in accordance with the terms, conditions and stipulations made by the original owners thereof and subject to the deduction of all grants and contributions made by the State Government to the said General Council of Niramoy prior to the appointed day. (2) The compensation payable by the State Government for all other assets excepting the lands and buildings as provided in sub-section (1) shall be the market value thereof determined by the Competent Authority referred to in sub-section (3) of this section after deduction of all grants and donations made by the State Government to the original owners thereof prior to the appointed day. (3) The Land Acquisition Collector, 24-Parganas, shall be the Competent Authority for the purpose of this Act. (4) Any person aggrieved by the award of the Competent Authority may appeal to the Appellate Authority within thirty days from the date of the award and the District Judge, 24-Parganas, shall be the Appellate Authority for this purpose. (5) The State Government shall, as soon as possible after the date of the award made by the Competent Authority, or as the case may be, the date of the order of the Appellate Authority in the case of an appeal, pay to the persons found entitled the amount of compensation determined under this section. Payment of compensa- tion. 141 The Niramoy Group of Institutions Acquisition Act, 1982. [West Ben. Act Management of the Institution. Protection from acts done in good faith. Employment of certain employees to continue. Act to override other laws. (Sections 6-9.) (6) The amount of compensation determined under this section shall carry interest at the rate of six per cent. per annum with effect from the appointed day till the date of payment of compensation.