(1)When by the making of any improvement scheme, any land in the area comprised in the scheme which is not required for the execution thereof will, in the opinion of the Trust, be increased in value, the Trust in framing the scheme, may, in lieu of providing for the acquisition of such land, declare that a betterment contribution shall be payable by the owner of the land or any person having an interest therein in respect of the increase in value of the land resulting from the execution of the scheme.(2)[ Such betterment contribution shall be an amount equal to one half of the amount by which the value of the land on the date of resolution referred to in section 70, estimated as if the land were clear of buildings, exceeds the value of the land on or immediately before the date on which the scheme was first published under section 39.] [Substituted by Central Province and Berar Act XXXIV of 1949.](3)No betterment contribution shall be payable by [the Government] [Substituted for 'Crown' by A.O., 1937.] in respect of any land which is the property of, the Government or is managed by the Central Government or the [State] [Substituted for 'provincial' by A. O., 1950.] Government or by a local authority or any public institution in respect of any land belonging to such authority or institution if, and so long as, such land is used for a public, charitable or religious purpose.
