Section 8 in The Pepsu Occupancy Tenants (Vesting of Proprietary Rights) Act, 1954
8. Payment of compensation to landlords.
(1)There shall be paid by the Government to every landlord as compensation for the extinguishment of his rights, title and interest in the land and of his right to recover arrears of rent, if any, due to him in respect thereof, the amount determined in that behalf under section 4.(2)The compensation payable under this Act shall, subject to the provisions of sub-section (3) and sub-section (4), be given in cash or in bonds or partly in cash and partly in bonds.(3)Where the amount of compensation does not exceed two hundred and fifty rupees, the compensation shall be given in cash within a period of eight months from the date of the award.(4)Where the amount of compensation exceeds two hundred and fifty rupees, the excess amount may be given in bonds carrying interest at three per centum per annum from the date of the award to the date of the redemption of bonds, and the bonds may be redeemed in such instalments, as the Government thinks fit, not extending in any case beyond eight years from the date of the award.
