Legal Document View

Unlock Advanced Research with PRISMAI

Integrated with over 4 crore judgments and laws — designed for legal practitioners, researchers, students and institutions

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 11] [Entire Act]

State of West Bengal - Section

Section 23 in West Bengal Estates Acquisition Act, 1953

23. Manner of payment of compensation.

—[(1)(a) As soon as may be after the date of the final publication of a Compensation Assessment Roll under section 21, the Compensation Officer shall, in the prescribed manner, [proceed to make payment] [Sub-section (1) Substituted by Section 8(1) of the West Bengal Estates Acquisition (Second Amendment) Act, 1961 (West Bengal Act No. 19 of 1961), which was earlier Substituted by Section 10(1) of the West Bengal Estates Acquisition (Amendment) Act, 1961 (West Bengal Act No. 9 of 1961) for original sub-section.] of the compensation to the intermediary who is entitled to such compensation in terms of the Compensation Assessment Roll together with interest at the rate of three per centum per annum of such compensation accruing from the date of vesting to [the date of final publication of the Compensation Assessment Roll] [Substituted by Section 8(i) of the West Bengal Estates Acquisition (Amendment) Act, 1963 (West Bengal Act 22 of 1963) (with retrospective effect) for the words the date of the offer of payment under this sub-section.] :][Provided that in assessing interest under this clause, interest on all ad interim payments made under section 12 shall, from the date of any such payment to the date of final publication of the Compensation Assessment Roll, be excluded :Provided further that in any case where the amount of compensation is enhanced as a result of an appeal under section 20, interest shall, subject to the provisions of the first proviso, be calculated from the date of vesting to the date of final publication of the Compensation Assessment Roll on the amount as determined on appeal.][First and second provisos added by Section 8(ii), ibid (with retrospective effect).](b)Where the compensation to which an intermediary is entitled is in respect of interests which vested in the State on two different dates, interest shall be calculated on such compensation from the later of such dates and to the interest so calculated there shall be added the interest on the net income of the intermediary from his interest which vested in the State on the earlier date calculated at the same rate from such earlier date of vesting up to the later date of vesting :Provided that such payment shall be without prejudice to the right of the intermediary to file an appeal under section 20.]
(1A)[ Where the intermediary is a limited owner, the Compensation Officer shall make payment to such intermediary of only the amount of interest calculated at the rate mentioned in sub-section (1) on the compensation payable for the estates or interests vesting in the State less such amount, if any, as may have been paid under the provisions of sub-section (4) of section 12, before depositing the amount of compensation with the Collector under section 24.][Sub-section (1A) Inserted by Section 10(2) of the West Bengal Estates Acquisition (Amendment) Act, 1961 (West Bengal Act No. 9 of 1961).]
(2)[Subject to the provisions of section 12 and sub-section (3) of section 26, all sums payable] [Substituted by Section 10(1) of the West Bengal Estates Acquisition (Amendment) Act, 1955 (West Bengal Act No. 35 of 1955) (with retrospective effect) for the words All sums payable.] as compensation to an intermediary shall be paid in the manner following, that is to say :—
(a)payment in cash shall be made in accordance with the following table, namely :—
Table
Net income Payment to be made in cash
For the first Rs. 250 or less of the net income. 100 per centum of the amount of compensation payable inrespect of such net income.
For the next Rs. 250 or less of the net income. 50 per centum of the amount of compensation payable in respectof such net income.
For the next Rs. 500 or less of the net income. 45 per centum of the amount of compensation payable in respectof such net income.
For the next Rs. 2,000 or less of the net income. 40 per centum of the amount of compensation payable in respectof such net income.
For the next Rs. 2,000 or less of the net income. 30 per centum of the amount of compensation payable in respectof such net income.
For the next Rs. 25,000 or less of the net income. 25 per centum of the amount of compensation payable in respectof such net income.
For the next Rs. 70,000 or less of the net income. 20 per centum of the amount of compensation payable in respectof such net income.
For the next Rs. 1,00,000 or less of the net income. 15 per centum of the amount of compensation payable in respectof such net income.
For the balance of the net income. 12 per centum of the amount of compensation payable in respectof such net income.
(b)the balance of the compensation shall be paid in [negotiable and transferable bonds of not less than fifty rupees each] [Substituted by Section 8(2)(1) of the West Bengal Estates Acquisition (Second Amendment) Act, 1961 (West Bengal Act No. 19 of 1961) for the words non-negotiable bonds.] carrying interest at three per centum per annum with effect from the date of issue and payable in the prescribed manner in twenty equal annual instalments [ xxx ] [The words "subject to any deduction from such payment of any sum which the Collector may order to be made under section 7 or any ad interim payment made under section 12 or any other sum recoverable from such compensation under section 8 or under an order of attachment" omitted by Section 10(2) of the West Bengal Estates Acquisition (Amendment) Act. 1955 (West Bengal Act No. 35 of 1955) (with retrospective effect).] [and the remainder, if any, below fifty rupees, shall be paid in cash] [Added by Section 8(2)(2) of the West Bengal Estates Acquisition (Second Amendment) Act. 1961 (West Bengal Act No. 19 of 1961).]
Provided that the State Government may at any time pay the commuted value of the bond in one instalment.
(3)Notwithstanding [anything to the contrary contained in sub-section (2), where the compensation payable to an intermediary or other person is an annuity,] [The words, figures and brackets anything to the contrary contained in sub-section (2). where the compensation payable to an intermediary or other person is an annuity, such annuity shall be payable in bonds. Substituted by Section 10(3)(a) of the West Bengal Estates Acquisition (Amendment) Act. 1961 (West Bengal Act No. 9 of 1961) for the words, figures and brackets anything contained in sub-section (2), the entire amount of the compensation in respect of any interest or portion of any interest referred to under the proviso to sub-section (1) of section 17, shall be payable in perpetual annuity bonds.] [the Collector of the district shall make the annual payment in respect of such annuity in the prescribed manner] [Substituted by Section 6(2)(a) of the West Bengal Estates Acquisition (Amendment) Act, 1964 (West Bengal Act 22 of 1964) (with retrospective effect) for the words such annuity shall be payable in bonds. Such bonds shall be deposited with the Collector of the district and such Collector shall make the annual payment in respect of such bonds.] to the trustee or other person [entitled for the time being to receive such payment] [Substituted by Section 10(3)(b) of the West Bengal Estates Acquisition (Amendment) Act, 1961 (West Bengal Act No. 9 of 1961) for the words entitled to the management of such interest or the portion of such interest.] :[Provided that having regard to the financial position and other circumstances of an intermediary referred to in clause (a) or clause (b) of the second proviso to sub-section (1) of section 17, the State Government may pay to such intermediary the commuted value of the annuity payable to him calculated in the prescribed manner, in one or more instalments.][Proviso added by Section 6(2)(b) of the West Bengal Estates Acquisition (Amendment) Act, 1964 (West Bengal Act 22 of 1964).]