(1) All claims and liabilities enforceable immediately before the appointed day against the Sreepadam Palace in respect of any Sreepadam lands shall, on or after that day, be enforceable only against the annuity or compensation, as the case may be, payable to the Sreepadam Palace under this Act, and to the same extent to which such claim and liabilities were enforceable against the interests of the Sreepadam Palace in the said lands immediately before the appointed day.
(2) No court shall, on or after the appointed day, order or continue execution in respect of any decree or order passed against the Sreepadam Palace or against the interest it had in any Sreepadam lands, and execution shall be ordered or continued in such cases in conformity with the provisions of sub-section (1) only as against the annuity or compensation payable to the Sreepadam Palace.
(3) All rights and privileges which may have accrued in any Sreepadam lands to any person before the appointed day against the Sreepadam Palace shall cease and determine and shall not be enforceable against the Sreepadam Palace or against the Government, and every such person shall be entitled only to such rights and privileges as are recognised or conferred on him by or under this Act.