( I) The Government shall, by way of compensation for the extmgUishment of the rights, title and mterest of ti-)e Srcepadam Palace under clause (a) of sectiOn 3 and for the vesting in the Governmc.nt of the S1 cepadam lands held on Kuthakapattom, under clause (b) of th<~t section, pay m pcrpet111ty to the Sreepadam Palace every financ1al year beginnlllg with the financial " year in wluch the appointed day falls, an amount of 31,075 rupees as annuity.
(2) The Government shall, by way of compensation for the vestmg of tharissu in the Government under clause (c) of sectwn 3, pay to the Sreepadam Palace an amount calculated at the rate of four hundred and nmety-four rup.-es per hectare of thanssu.
(3) The annmty payable under sut-section (I) shall be paid m one lump every financial year on such elate and m such manner as may be prescribed.
(4) The compensatiOn payable under sue-section (2) sh,dl be paid m one lump and shall bear mtere~t at the rate of 5 per cent per annum from the appomted day