(1) The compensation referred to in sub-section (2) of section 3 shall be an amount equal to twelve times the money value of the Arthapalisa or Jenmibhogam or the amount of Karathilchilavu, as the case may be, at the commutation rate specified in sub-section (2) of this section.
(2) Notwithstanding anything contained in any law or in any judgment, decree or order of court, the commutation rate of paddy in respect of Arthapalisa, Jenmibhogam and Karathilchilavu shall be ninety rupees per standard para.
Explanation:—For the purposes of this section, "standard para" means the measure equivalent to 13.11 litres.
(3) The amount of compensation payable to a jenmi under this Act shall be deemed to have accrued due from the appointed day and interest thereon shall be payable annually at the same rate as that of the treasury savings from that day till the date of payment of the compensation.