(1) Whereas due to any project executed or to be executed by the State Government, any religious endowment is acquired by the State Government under any law for the time being in force, and the amount of compensation therefor, and the persons to whom such amount is to be paid, have been finally determined under such law, a notification to that effect shall be published in the Official Gazette and in such other manner as the competent authority may deem fit, stating the name of the religious endowment together with plans or photographs thereof, if any, or any document containing any description or information of such endowment including any instrument of trust in respect thereof, the names of persons including trustees to whom the amount of compensation should be paid and requiring such persons to claim the compensation and pass a receipt in token of having received it within sixty days from the date of the publication of such notification in the Official Gazette. The competent authority shall also cause a copy of such notification to be forwarded to the trustees to whom the compensation is to be paid.
(2) If no trustees are ascertainable or all the trustees do not claim the amount of compensation and pass a receipt signed by all the trustees in token of having received such amount within a period of sixty days aforesaid, then the amount of compensation determined as aforesaid shall vest in the State Government for the purposes of reconstructing the religious endowment on resettlement site as provided in this Act.