Section 23(3) in West Bengal Estates Acquisition Act, 1953
(3)Notwithstanding [anything to the contrary contained in sub-section (2), where the compensation payable to an intermediary or other person is an annuity,] [The words, figures and brackets anything to the contrary contained in sub-section (2). where the compensation payable to an intermediary or other person is an annuity, such annuity shall be payable in bonds. Substituted by Section 10(3)(a) of the West Bengal Estates Acquisition (Amendment) Act. 1961 (West Bengal Act No. 9 of 1961) for the words, figures and brackets anything contained in sub-section (2), the entire amount of the compensation in respect of any interest or portion of any interest referred to under the proviso to sub-section (1) of section 17, shall be payable in perpetual annuity bonds.] [the Collector of the district shall make the annual payment in respect of such annuity in the prescribed manner] [Substituted by Section 6(2)(a) of the West Bengal Estates Acquisition (Amendment) Act, 1964 (West Bengal Act 22 of 1964) (with retrospective effect) for the words such annuity shall be payable in bonds. Such bonds shall be deposited with the Collector of the district and such Collector shall make the annual payment in respect of such bonds.] to the trustee or other person [entitled for the time being to receive such payment] [Substituted by Section 10(3)(b) of the West Bengal Estates Acquisition (Amendment) Act, 1961 (West Bengal Act No. 9 of 1961) for the words entitled to the management of such interest or the portion of such interest.] :[Provided that having regard to the financial position and other circumstances of an intermediary referred to in clause (a) or clause (b) of the second proviso to sub-section (1) of section 17, the State Government may pay to such intermediary the commuted value of the annuity payable to him calculated in the prescribed manner, in one or more instalments.][Proviso added by Section 6(2)(b) of the West Bengal Estates Acquisition (Amendment) Act, 1964 (West Bengal Act 22 of 1964).]
