Land and buildings, etc. acquired for an industrial undertaking and utilised for providing civic amenities, namely,

(1) If any land has been acquired for an industrial undertaking under the Land Acquisition Act, 1894 (Act I 1894) so much of such land and buildings and structures thereon in possession of the industrial undertaking as are being utilised for providing civic amenities, namely health, housing, welfare, power house and educational facilities to its employees and so much of the remaining portion of such land and building and structures thereon as are found essential on enquiry by the State Government for production processes of the industrial undertaking shall be deemed to have been leased out by the State Government with the owner of the industrial undertaking for such period as determined by the State Government subject to payment of such fair and equitable rent as determined by the State Government. (2) The provisions of sub-section (1) shall have effect notwithstanding anything contained in Section 4 (a) and shall be without prejudice to the exemptions granted or concession given to intermediaries under Sections 5, 6, 7A, 7B and 7C. (3) If the claim of the industrial undertaking as to possession over the lands, buildings and structures thereon, referred to in sub-section (1) or to the extent of such lands, buildings and structure is disputed by any person within three months of the commencement of the Bihar Land Reforms (Amendment) Act, 1972, the Collector shall make such inquiries in the matter as he deems fit and pass orders as may appear to him as just and fair. (4) The provisions of sub-section (1) shall be deemed to have been inserted in this Act from the commencement thereof.