(2)The [Collector] [Substituted for the words 'Revenue Officer' by the Madras Estates Land (Amendment) Act, 1934 (Madras Act VIII of 1934).] may, of his own motion or on the application of any party aggrieved, at the time before the settlement record is submitted to the confirming authority under section 170, revise any rent entered therein:Provided that no such entry shall be revised until reasonable notice has been given to the parties concerned to appear and be heard in the matter.