Section 5 in Tamil Nadu Fleet Operators Stage Carriages (Acquisition) Act, 1971
5. Principles and method of determining compensation.
- The compensation for the acquired property shall be determined in accordance with the principles specified in the Schedule and in the manner hereinafter set out, that is to say,-(a)the amount of compensation can be fixed by agreement;(b)where no such agreement can be reached, the Government shall appoint as arbitrator a person who is, or has been, or is qualified for appointment as, a Judge of a High Court;(c)the Government may, in any particular case, nominate a person having expert knowledge as to the nature of the acquired property to assist the arbitrator and where such nomination is made, the person interested may also nominate an assessor for the same purpose;(d)at the commencement of the proceedings before the arbitrator, the Government and the person interested shall state what in their respective opinion is a fair amount of compensation;(e)the arbitrator shall, after hearing the dispute, make an award determining the amount of compensation which appears to him to be just and specifying the person or persons to whom such compensation shall be paid; and in making the award, he shall have regard to the circumstances of each case and the provisions of the Schedule, so far as it is applicable;(f)where there is any dispute as to the person or persons who are entitled to the compensation, the arbitrator shall decide such dispute and if the arbitrator finds that more persons than one are entitled to compensation, he shall, apportion the amount thereof amongst such persons;(g)nothing in the [Arbitration Act, 1940 (Central Act X of 1940)] [This Act has been repealed and re-enacted as the Arbitration and Conciliation Act, 1996.], shall apply to arbitrations under this Act.
