Manner of payment of compensation for land restored

(1) If the auction-purchaser of any holding or land in respect of which an order under section 4 has been made has not alienated the whole or any part of the holding or land purchased by him and is in possession there of the amount deposited with the Deputy Commissioner under sub-section (3) of section 4 shall be paid to him on his application and in the prescribed manner. (2) If the auction-purchaser of such holding or land has alienated the same or any part thereof prior to the date of the order under section 4 the amount deposited with the Deputy Commissioner under sub-section (3) of section 4 shall be paid on the application of the person entitled to payment under this sub-section and in the prescribed manner,- (a) in the case of alienation by means of- (i) a bonafide sale or exchange for valuable consideration, (ii) a bonafide gift by a registered instrument, or (iii) A usufructuary mortgage to the person in possession of the holding or land sold or, if more than one persons are in possession thereof, to all such persons in such proportions as the Deputy Commissioner may deem fair and equitable (b) in the case of alienation by means of a bonafide lease for valuable consideration, to the auction-purchaser and in possession of the holding or land sold, in such proportions as the Deputy Commissioner may deem fair and equitable.