Section 24(2) in The Punjab Aerial Ropeways Act, 1926
(2)Where the promoter is not the [State] Government, the [State] Government may-(a)within such limits of time and upon such terms and conditions as may be specified in this behalf in the order, or(b)if a time was not specified in the order, then within six months after the expiration of a period of twenty-one years from the date of the order, and within six months after the expiration of every subsequent period of seven years, or(c)within two months after the publication of a notification under section 22, or within six months after the publication of a notification under section 26.by notice in writing require the promoter to sell to the [State] Government or to a local authority the aerial ropeway or a part thereof, and thereupon the promoter shall sell the same upon the terms specified in the order, or if the terms were not specified in the order, then upon the terms of receiving the then value of the aerial ropeway or of the part thereof. The then value of the aerial ropeway shall be deemed to be twenty-five times the amount of the average yearly net earnings derived by the promoter from the aerial ropeway or part thereof, during the three years immediately preceding the date of sale;Provided that if the terms were not specified in the order published under section 7, the total amount so payable to the promoter shall not exceed by more than twenty per cent the total capital expenditure of the promoter on the aerial ropeway, or part thereof.
