(2)If the occupancy-right in land is transferred to a person jointly interested in the land as proprietor or permanent tenure-holder; such person shall hold the land as proprietor or permanent tenure-holder, as the case may be, and shall not hold it by - any subordinate right whatsoever. Such transferee shall pay to his co-sharers a fair and equitable sum for the use and occupation of the land, and if he sub-lets the land to a third person, such third person shall be deemed to be a tenure-holder or a Raiyat, as the case may be, in respect thereof.Illustration. - A, a co-sharer landlord, purchases the occupation holding of a Raiyat X.A sublets the land to Y who takes it for the purpose of establishing tenants on it: Y becomes a tenure-holder in respect of the land. Or A sub-lets it to Z who takes it for the purpose of cultivating it himself: Z becomes a Raiyat in respect of the land.In determining from time to time what is a fair and equitable sum under this sub-section, regard shall be had to the rent payable by the occupancy-raiyat at the time of the transfer, and to the principles of this Act regulating the enhancement or reduction of the rent of occupancy-raiyats.
