Section 11 in Tamil Nadu Land Reforms (Payment for Surplus Land) Rules, 1966
11. Conditions subject to which amount payable under section 52 to be kept in deposit with the District Collector.
(1)In cases falling under section 52 the cash portion of the amount soon as it is deposited with him, and each of the annual instalments of the principal due on the bonds, as soon as it is cashed, shall be invested by the District Collect in Government guaranteed security. The interest portion of each annual instalment and the interest accruing on the investments made, as soon as they are drawn shall be paid by the District Collector to the person or persons entitled to such amount under sub-section (1) of section 52 until any person or persons become absolutely entitled to the amount of amount.(2)In the limited owner dies, the District Collector shall endorse the bonds or the security bonds or both in favour of the person or persons becoming absolutely entitled thereto.[Explanation. - Where the amount is payable in cash, the amount payable in a sing instalment or with the.first instalment, other than the interest referred to in clause (b) of sub-rule (3) of rule 3, shall be dealt with in the same manner as the cash portion of the amount. The annual instalments of principal and interest as well as the interest referred to in clause (h) of sub-rule (3) of rule 3, be dealt with in the same manner as instalment of principal and interest due on the bonds.] [Explanations rule 11 added by SRO A-41/78 = G. O. Ms. No. 186, Revenue (L. Ref. I), dated the 27th January 1978.]
