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[Cites 0, Cited by 0] [Section 23] [Entire Act]

State of West Bengal - Subsection

Section 23(2) in West Bengal Estates Acquisition Act, 1953

(2)[Subject to the provisions of section 12 and sub-section (3) of section 26, all sums payable] [Substituted by Section 10(1) of the West Bengal Estates Acquisition (Amendment) Act, 1955 (West Bengal Act No. 35 of 1955) (with retrospective effect) for the words All sums payable.] as compensation to an intermediary shall be paid in the manner following, that is to say :—
(a)payment in cash shall be made in accordance with the following table, namely :—
Table
Net income Payment to be made in cash
For the first Rs. 250 or less of the net income. 100 per centum of the amount of compensation payable inrespect of such net income.
For the next Rs. 250 or less of the net income. 50 per centum of the amount of compensation payable in respectof such net income.
For the next Rs. 500 or less of the net income. 45 per centum of the amount of compensation payable in respectof such net income.
For the next Rs. 2,000 or less of the net income. 40 per centum of the amount of compensation payable in respectof such net income.
For the next Rs. 2,000 or less of the net income. 30 per centum of the amount of compensation payable in respectof such net income.
For the next Rs. 25,000 or less of the net income. 25 per centum of the amount of compensation payable in respectof such net income.
For the next Rs. 70,000 or less of the net income. 20 per centum of the amount of compensation payable in respectof such net income.
For the next Rs. 1,00,000 or less of the net income. 15 per centum of the amount of compensation payable in respectof such net income.
For the balance of the net income. 12 per centum of the amount of compensation payable in respectof such net income.
(b)the balance of the compensation shall be paid in [negotiable and transferable bonds of not less than fifty rupees each] [Substituted by Section 8(2)(1) of the West Bengal Estates Acquisition (Second Amendment) Act, 1961 (West Bengal Act No. 19 of 1961) for the words non-negotiable bonds.] carrying interest at three per centum per annum with effect from the date of issue and payable in the prescribed manner in twenty equal annual instalments [ xxx ] [The words "subject to any deduction from such payment of any sum which the Collector may order to be made under section 7 or any ad interim payment made under section 12 or any other sum recoverable from such compensation under section 8 or under an order of attachment" omitted by Section 10(2) of the West Bengal Estates Acquisition (Amendment) Act. 1955 (West Bengal Act No. 35 of 1955) (with retrospective effect).] [and the remainder, if any, below fifty rupees, shall be paid in cash] [Added by Section 8(2)(2) of the West Bengal Estates Acquisition (Second Amendment) Act. 1961 (West Bengal Act No. 19 of 1961).]
Provided that the State Government may at any time pay the commuted value of the bond in one instalment.