Section 55 in Tamil Nadu Land Reforms (Fixation of Ceiling on Land) Act, 1961
55. Mode of payment of [amount] [Substituted for the word 'compensation' by section 5(ix)(a) of the Tamil Nadu Land Reforms (Fixation of Ceiling on Land) Amendment Act, 1979 (Tamil Nadu Act 11 of 1979).].
(1)[The amount payable under section 50] [Substituted for 'The amount of compensation ' by sections 5(ix)(b) of the Tamil Nadu Land Reforms (Fixation of Ceiling on Land) Amendment Act, 1979 (Tamil Nadu Act 11 of 1979).] as finally determined under this Act shall, within such period as may be prescribed, be paid either in cash or in bonds or partly in cash and partly in bonds as the Government may deem fit.(2)The bonds shall be issued on such terms and carry such rate of interest as may be prescribed. The interest shall be paid-(i)in the case of any land held by any person referred to in clause (a) or (b) of sub-section (5) of section 18 with effect from the date of the publication of the notification under sub-section (1) of section 18; and(ii)in any other case, with effect from the date of taking possession of the land under sub-section (4) of section 18.
