Section 22 in The Bengal Land-Revenue Sales Act, 1859
22. Deposit on account of purchase-money.
- The party who shall be declared the purchaser of an estate or share of an estate at any such public sale as aforesaid shall be required to deposit immediately, or as soon after the conclusion of the sale of the estate or share as the Collector or other officer as aforesaid may think necessary, either in cash, [Reserve Bank of India] [Words substituted for the words 'Bank of Bengal' by Bengal Act 1 of 1939.] [* *] [Words 'notes or,' repealed by Act 1 of 1903.] post-bills, [currency notes] [Words inserted by Act 1 of 1903.], or Government securities, to be valued at the market-rate of the day, duly endorsed, twenty-five per cent, on the amount of his bid; and in default of such deposit the estate or share shall forthwith be put up again and sold.
