Choice for annuity where cultivating tenant applies for purchase

Where, on receipt of a notice under section 57, the institution does not file a statement of its choice as provided in section 69, the institution shall be deemed to have chosen to permit the cultivating tenant to purchase its right, title and interest and the provisions of sections 53 to 64 shall apply to the purchase of the right, title and interest of the landowner and the intermediaries, the payment of purchase price and the discharge of liabilities.