Section 40: Compensation for acquisition of road transport undertakings.
The Road Transport Corporations Act, 1950Central Act · Act 64 of 1950
Whenever a Corporation acquires under this Act the whole or any part of any undertaking, there shall be paid by the Corporation compensation the amount of which shall be determined in the manner and in accordance with the procedure hereinafter set out, that is to say,--
(a) where the amount of compensation can be fixed by agreement, it shall be paid in accordance with such agreement;
(b) where no such agreement can be reached, the amount shall be determined by an arbitral Tribunal consisting of one nominee of the Corporation, one nominee of the person to be compensated, and a Chairman to be nominated by the Chief Justice of the [High Court of Delhi];
(c) an appeal shall [lie to the High Court of Delhi] against the decision of the Tribunal and the [order of that High Court] on such appeal shall be final.
Compensation for acquisition of road transport undertakings.
Jurisdiction
Central
Status
In 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.
substituted. . Subs. by s. 7(a) and the First Schedule, ibid@i/@., for "High Court exercising jurisdiction in relation to the State concerned" (w.e.f. 3-9-1971).
substituted. . Subs. by s. 7(a) and the First Schedule, ibid., for "lie to the High Court" (w.e.f. 3-9-1971).
substituted. . Subs. by s. 7(a) and the First Schedule, ibid., for "order of the High Court" (w.e.f. 3-9-1971).
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