Section 24(5) in The Gujarat Agricultural Lands Ceiling Act, 1960
(5)The apportionment of the compensation amongst the holders of encumbrances shall be determined on the following basis, that is to say.-(a)if the total amount of encumbrances on the land is less than the compensation payable in respect of the land, the amount of encumbrances shall be paid to the holders thereof in full.(b)[ If the total amount of such encumbrances exceeds the compensation payable in respect of the land, the amount of compensation shall be distributed. Pro-rata first amongst the following holders of encumbrances irrespective of the dates on which such encumbrances were created, namely.- [This clause was substituted for the original by Gujarat 2 of 1974, Section 21.](i)co-operative societies registered or deemed to have been registered under the Gujarat Co-operative Societies Act, 1961 (Gujarat X of 1962);(ii)land development banks;(iii)the State Bank of India constituted under the State Bank of India Act, 1955 (Act 23 of 1955) or a subsidiary bank as defined in the State Bank of India (Subsidiary Banks) Act, 1959;(iv)banks specified in column 2 of the First Schedule to the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 (Act 5 of 1970).If after distribution of the amount of compensation to the aforesaid holders of encumbrances there remains any surplus, the same shall be distributed pro-rata amongst other holders of encumbrances.]
