Assignment of rights vested in the Government to small holders

(1) Where the landowner whose ownership of the land is vested in the Government or the intermediary whose rights are extinguished under sub-section (4) of section 86 was a small holder and the cultivating tenant of the holding was entitled to fixity of tenure immediately before the 21st January, 1961, under any law then in force, the ownership or possession or both of such land vested in the Government shall be assigned to such small holder: Provided that where there are more than one such small holder in respect of such land, the small holder nearest to the cultivating tenant shall have priority for such assignment. (2) The purchase price payable by the small holder referred to in sub-section (1) for assignment of the ownership or possession or both of the land shall be fifty-five per cent of the market value of such rights. (3) The purchase price shall be payable either in a lump or in sixteen equal annual instalments. (4) A small holder entitled to the assignment of the ownership or possession or both of the land vested in the Government may apply to the Land Board for the assignment of the same within such time and in such manner as may be prescribed. (5) On receipt of an application under sub-section (4), the Land Board shall, after due enquiry and on being satisfied that the applicant is entitled to such assignment, assign the ownership or possession or both of such land to the small holder on payment of the purchase price in a lump or the first instalment of the purchase price. (6) The provisions of sub-sections (2) and (3) of section 97 shall, as far as may be, apply to the payment and recovery of the instalments of the purchase price and interest thereon and as regards the charge for the amounts due from the assignee.