Amendment status not verified — confirm the current text below against the official source.
(1) Where the right of user in any land has vested in the State Government under sub-section (3), or in the pre- scribed authority under sub-section (4), of section 11. the State Government or the prescribed authority, as the case may be, shall be liable to pay to the owner and to any other person whose right of enjoyment in that land .has been injuri- ously affected by reason of such vesting, compensation. cal- culated at ten per centunt of the market value of that land on the date of notification under sub-section (1) -of section 11. (2) Where. in pursuance of any Slum Clearance and Re- development Scheme, any land or immovable property hasp been acquired, and has vested in the State GOvernment under sub-section t2). or in the prescribed authority under sub-. section (3). of section 14, the State Government or the pre- scribed authority, as the case may be, shall be liable to pay— (a) to each intermediary in respect of his rights and in- terests— (i) in any land, an amount equal to twenty times, and (ii) in any hut or other structure situated in the land and belonging to such intermediary, a further amount equal to five times, the net annual income of such intermediary from such land or such hut or other structure, as the case may be ; (b) to every thika tenant in respect of the rights and in- terests in any land, huts or other structures there- on, at an amount equal to five times the net annuaL income of the thika tenant from such land, huts or other structures. Erplanation.—In this sub-section,— (i) "net annual income", in relation to any person, means the yearly average of hiS net income during a period of five consecutive years immediately pre-1 ceding the date of vesting; (ii) "net income", in relation to any person, means• the amount arrived at by deducting from his gross in- come the following, namely:— (a) the rents and taxes, if any, payable by such person in respect of the property concerned, and (b) the cost of management and collection calculated at an amount not exceeding three per centhm of the gross income ; (iii) "gross income", in relation to any person, means the income actually derived or derivable by such: person: 'Provided that, where only a portion of any land is let out by any person for any period during the five con- secutive years immediately preceding the date of vesting, the gross income of such person from the entire land or immovable property for such period shall be calculated on the basis of the income ac- tually derived by him during such period for the portion so let out. 16, The compensation payable in respect of the acquisi- manneror tion of any interest under this Act either to one claimant or Payment. THE CALCUTTA GAZETTE, EXTRAORDINARY, JANUARY 25, 1971 to several claimants jointly shall, subject to the provisions of this Act, be paid in the following manner, namely:— ta) payment in cash shall be made in accordance with the following Table, namely:— TABLE Net compensation. Payment to be made in cash. (1) For the first Rs. ,5,000 or less of the amount. (ii) For the next Rs. 6,000 or less of the amount. (iii) For the next Rs. 5,000 or less of the amount. (iy)r For the balance of the amount of compensation where such amount exceeds Rs. 15,000. 100 per centum of the amount of compensation payable. 70 per centum of the amount. 50 per centurn of the amount. 30 per centum of the amount by which the compensation exceeds Rs. 15,000; (b) save as othewise provided in clause (a), the balance of the compensation, if any, shall be paid to the claimants at their option in cash or in bonds issued by the State Government or the prescribed autho- rity, as the case may be, repayable at par and' maturing at the end of fifteen years from the date of vesting and carrying interest from the date of such vesting at the rate of five and a half per cent urn per annum. Appeal.