(1) Where any compensation is payable under this Act for the acquisition of any right for working of mines or minerals or acquisition or requisition of any mineral, concentrates, other material, equipment or plant or mine or the prohibitions or conditions imposed or works related to discovery of minerals, the Central Government shall, while determining the amount of such compensation, have regard to,—
(a) in the case of compensation payable for the purpose of discovering uranium or thorium under sub-section (1) of section 5,—
(i) the nature of the work done;
(ii) the manner, extent and duration of such discovery;
(iii) the diminution in the rent of the land and of the property situated at the site of such discovery, which might reasonably be expected over any period; or
(iv) the diminution in the market value of the land and property on the date of such discovery;
(b) in the case of compensation payable for the compulsory acquisition or requisition of any plant, mine, substance or equipment under section 33 or section 34, the price which the owner might reasonably have been expected to obtain on a sale of the property effected by him immediately before the date of the acquisition or the requisition;
(c) where the amount of compensation is fixed by an agreement, it shall be paid in accordance with such agreement.
(2) For the purposes of compensation under sub-section (1),––
(a) the value of uranium, thorium, plutonium or any of their isotopes, contained in any substance or material including the cost of transportation shall not form part of the compensation;
(b) the value shall not exceed the cost incurred by the person in the production, mining or irradiation of the substance.