Where an ex-owner of land, or, if such ex-owner had an intermediary under him prior to the first day of May, 1973, such ex-owner and such ex-intermediary jointly, and the prospective owner of such land by an agreement in writing, duly registered under the Jammu and Kashmir Registration Act, 1977 or authenticated by a Revenue Officer of a class not lower than a Tehsildar––
(a) respectively acknowledge receipt and payment of an agreed amount ; and/or
(b) admit having apportioned such land as between themselves in an agreed manner and having entered into possession of their respective shares in accordance therewith ;
such payment or such apportionment of land or both, as the case may be, shall be given due effect and shall relieve the [Union territory of Jammu and Kashmir] of its liability to make payment to such person and also relieve the prospective owner of his liability to pay levy to the [Union territory of Jammu and Kashmir] :
Provided that in case of apportionment of land the ex-landlord shall not have in his share more land than could be resumed by him under clause (f) of sub-section (2) of section 7, if he were otherwise eligible to resume land.