78G. [ Agreement to make payment of betterment fee a charge on land] [Sections 78D to 78G inserted by Ben Act 8 of 1931.]. - (1) Any person liable to the payment of a betterment fee may, at his option, instead of making a payment thereof to the Board, execute an agreement with the Board to leave the said payment outstanding as a charge on his interest in the land, subject to the payment in perpetuity of interest at the rate of [ten per cent per annum] [Words substituted by W. B. Act 42 of 1983.] the first annual payment of such interest to be made one year from the date referred to in section 78F.
(2)Every payment due from any person in respect of a betterment fee and every charge referred to in sub-section (1) shall, notwithstanding anything contained in any other enactment and notwithstanding the existence of any mortgage or other charge whether legal or equitable created either before or after the commencement of the Calcutta Improvement (Amendment) Act, 1931, be the first charge upon the interest of such person in such land.(3)The provisions of sub-sections (7), (8) and (9) of section 78 relating, in the case of the payments mentioned in that section, to the non-payment of instalments of interest, the paying off of the charge with interest, and the restrictions in respect of suits against the Board shall apply, mutatis mutandis, to the payment of the money payable under an agreement made in pursuance of sub-section (1) and of the interest payable in respect thereof.[Recovery of special payments and betterment fees.] [The sub-heading and para, substituted by Ben. Act 8 of 1931.]
