Amendment status not verified — confirm the current text below against the official source.
The compensation payable in respect of the acquisition of any interest under this Act either to one claimant or to several claimants jointly shall, subject to the provisions of this Act, be paid in the following manner, namely:— (a) payment in cash shall be made in accordance with the following Table, namely:— TABLE Net compensation. Payment to be made in cash. Manner of payment of compen- sation. per centum of the amount of compensation payable. per centum of the'amount. For the first Rs. 5,000 or 100 less of the amount. For the next Rs. 5,000 or 70 less of the amount. For the next Rs. 5,000 or less of the amount. For the balance of the amount of compensation where such amount exceeds Rs. 15,000. 50 per centum of the amount. 30 per centum of the amount by which the compensation exceeds Rs. 15,000; 71 The West Bengal Slum Areas (Improvement and Clearance) Act, 1972. [West Ben. Act (Sections 17-19.) (b) save as otherwise 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 authority, 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 centum per annum.