(1)The 'occupancy transfer-fee' shall amount to ten per cent of the market value of the land at the time of the transferor three times the annual rent then payable for the land transferred, whichever is greater.(2)When an occupancy holding, or a portion or share thereof, is transferred under an instrument of sale the consideration money mentioned in such deed, together with any other sum which the transferee has paid or agreed to pay in satisfaction of the sale price, wholly or in part, shall, until the contrary is proved, be presumed to be the market value of such holding, or portion or share, for the purposes of sub-Section (1).(3)When a portion of share of a holding is transfered, the rent of that portion or share shall, for the purposes of sub-Section (1), be deemed to be such proportion of the rent of the entire holding as the area or share transferred bears to that of the entire holding.(4)The provisions of Sections 51, 52, 53, 54, and 55 of this Act shall, so far as may be, apply to the tender of an 'occupancy transfer fee' and its deposit in court, as if it were an arrear of rent.
