(1) Notwithstanding anything contained in any law for the time being in force, but subject to the provisions of sub-section (2), where any structural repairs of a building or a part thereof are carried out by the Board under the provisions of this Act the building material, debris and other things of the old building (which are replaced by the Board by the like material or different material) shall, on such replacement, be deemed to have become the property of the Authority in exchange for the new material so provided by the Board; and it shall be lawful for the Board to remove or cause to be removed such old building material, debris and other things and to sell or otherwise dispose of that material, debris and things, in such manner as it deems fit.
(2) As soon as possible after such repairs are carried out, the Board shall give notice to the owner that the material, debris and things aforesaid have become the property of the Authority and that if the owner claims that the value of the said material, debris and things was more than the amount of the expenditure incurred by the Board on such repairs, he may submit his claim for compensation with the necessary particulars to the Board, within thirty days from the date of receipt of such notice. Where any such claim is made, the Board shall, after holding such enquiry as it deems fit and giving a reasonable opportunity to the owner of being hard decide the claim, and may either reject the claim or accept it. Where the Board accepts the claim, the Board shall make an order for payment to the owner as compensation an amount equal to the difference between the value of the building material, debris and other things of the old buildings as estimated by it and the amount of the expenditure incurred by the Board on the structural repairs referred to in sub-section (1).