(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 licence, or(b)If a time was not specified in the licence, then within six months after the expiration of a period of twenty-one years from the date of the licence, 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 23 or within six months after the publication of notification under section 27 by notice in writing, require the promoter to sell to the State Government or to a local authority the Ropeway or a(d)part thereof, and thereupon the promoter shall sell the same upon the terms specified in the licence, or if the terms were not specified in the licence, then upon the terms of receiving the then value of the Ropeway, shall be deemed to be twenty-five times the amount of the average yearly net earnings derived by the promoter from the Ropeway or part thereof, during the three years immediately preceding the date of sale:Provided that, if the terms were not specified in the licence published under section 10, the total amount so payable to the promoter shall not exceed by more than twenty percent the total capital expenditure of the promoter on the Ropeway, or part thereof.
