Principles and method of determining compensation in cases where movable property is requisitioned or acquired.

Where any movable property is requisitioned or acquired under this Act, the compensation payable therefor and the person or persons to whom it should be paid shall be determined in accordance with the rules to be made in his behalf by the Government: Provided that the rules so made for payment of compensation shall,— (a) in respect of movable property requisitioned, provide, for payment of rent or other return which the property would normally fetch if so allowed to be used; and (b) in respect of movable property acquired, provide for payment of compensation at the market rate prevailing on the date of acquisition.