92. [ Payment of compensation and amount of encumbrance. [Substituted by Act No. 16 of 1989.]
(1)The compensation or amount of encumbrance, as the case may be, shall be paid,-(a)where the person entitled to receive the compensation or the amount of encumbrance is not a private trust or endownment or a body corporate, the compensation or the amount of encumbrance shall be paid either in cash or in negotiable bonds redeemable after the expiry or sixteen years and carrying simple interest at the rate of four and a half percent per annum with effect from the date on which the ownership or possession or both of the land has or have vested in the Government under section 86 or section 87 or partly in cash and partly in such bond, in such manner as may be prescribed;(b)where the person entitled to receive the compensation or the amount of encumbrance is a private trust or endownment or a body corporate, the compensation or the amount of encumbrance shall be paid in cash or in treasury certificate to be encashed after the expiry of sixteen years and carrying simple interest at the rate of four and a half percent per annum with effect from the date on which the ownership or possession or both of the land has or have vested in the Government under section 86 or section 87 or partly in cash and partly in such treasury certificate, in such manner as may be prescribed.(2)Where the person entitled to receive the compensation or the amount of encumbrance is a minor or a person suffering from some legal disability or a limited owner, the compensation or the amount of encumbrance, either in cash or in negotiable bond or partly in cash and partly in such bond as may be payable under sub-section (1), shall, notwithstanding anything contained in any law, but subject to any general directions that the Government may give, be deposited for and on behalf of the person with such authority or bank as may be prescribed.(3)Where a person entitled to the compensation or the amount of encumbrance under sub-section (1) dies before it is paid to him, it shall be paid to his legal representatives:Provided that if such person has, in accordance with the rules made in this behalf, nominated any member of his family to receive the amount, the same shall be paid to such nominee.Explanation. - For the purposes of the preceding proviso, "member of family" means wife or husband, son or daughter of such person.(4)Where before any court or authority any suit or proceeding is pending which directly or indirectly affects or is likely to affect the right of any person to receive the whole or part of the compensation or the amount of encumbrance, the court or authority may require the Land Board to place at its disposal the amount so payable and thereupon the same shall be disposed of in accordance with the orders of the court or authority.]
