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Section 15: Payment of amount

The Karnataka Certain Inams Abolition Act, 1977State Act of Karnataka · Act 10 of 1978

(1) The amount shall be due as from the appointed date and shall carry interest at the rate of two and three-fourths per cent per annum from the appointed date to the date of payment.

(2) The amount payable under this Act, may, in accordance with the rules made in this behalf, be paid in one or more of the following modes, namely:-

(i) in cash, in full or in annual installments not exceeding ten ;

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(ii) in bonds, either negotiable or non negotiable, carrying interest at the rate specified in sub-section (1) and of guaranteed face value maturing within a specified period not exceeding ten years :

Provided that the amount payable under the bonds issued under this clause may be repaid in such number of installments not exceeding ten as may be prescribed.

Where this provision sits

ActThe Karnataka Certain Inams Abolition Act, 1977
Section15
Marginal notePayment of amount
JurisdictionState of Karnataka
StatusIn force as published by the source

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