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Section 26: Amount of compensation to be payable in transferable bonds except in certain cases.

The Maharashtra Merged Territories Miscellaneous Alienations Abolition Act.State Act of Maharashtra · Act 22 of 1955

26. Amount of compensation to be payable in transferable bonds [except in certain cases].- The amount of compensation payable under the provisions of this Act shall be payable in transferable bonds, carrying interest at the rate of three per cent. per annum from the date of the issue of such bonds and shall be repayable during a period of twenty years from the date of the issue of such bonds by equated annual instalments of principal and interest. The bonds shall be of such denominations and shall be in such forms as may be prescribed:

[Provided that the amount of compensation payable under the proviso to sub-section (1) of section 15 may be paid in cash.]

Where this provision sits

ActThe Maharashtra Merged Territories Miscellaneous Alienations Abolition Act.
Section26
Marginal noteAmount of compensation to be payable in transferable bonds except in certain cases.
JurisdictionState of Maharashtra
StatusIn force as published by the source

How this provision has been amended

Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.

  • added, Bom. 34 of 1957. These words were added and shall be deemed always to have been added, by Bom. 34 of 1957, s. 3 (2).
  • added, Bom. 34 of 1957. This proviso was added and shall be deemed always to have been added by Bom. 34 of 1957, s. 3 (1).

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