(3)When a permanent tenure or holding is sold in execution of a decree or a certificate signed under the Bengal Public Demands Recovery Act, 1913 for arrears due in respect thereof, and there is, on the tenure or holding, a protected interest of the land specified in Clause (b) of Section 151, the purchaser may, if he has power under this Chapter or that Act to avoid all incumbrances, sue to enhance the rent of the land which is the subject of the protected interest. On proof that the land is held at a rent which was not, at the time the lease was granted, a fair rent, the court may enhance the rent to such an amount as appears to be fair and equitable.This sub-section shall not apply to land which has been held for a term exceeding twelve years at a rent equal to the rent of good arable land at the time the lease was granted.