Section 26 in The Maharashtra Merged Territories Miscellaneous Alienations Abolition Act, 1955
26. Amount of compensation to be payable in transferable bonds [except in certain cases] [These words were added and shall be deemed always to have been added by Bombay 33 of 1957, Section 3(2).].
- The amount of compensation payable under the provisions of this Act shall be payable in transferable bonds carrying interest at the rate of three per cent. per annum from the date of the issue of such bonds and shall be repayable during a period of twenty years from the date of the issue of such bonds by equated annual instalments of principal and interest. The bonds shall be of such denominations and shall be in such forms as may be prescribed:[Provided that the amount of compensation payable under the proviso to sub-section (1) of section 15 may be paid in cash.] [This proviso was added and shall be deemed always to have been added by Bombay 33 of 1957, Section 3(1).]
