4. Amount payable for extinguishment of right to receive jenmikaram.-

(1) The Government shall pay to every jenmi, other than a religious or charitable institution of a public nature, whose right to receive payment of jenmikaram has been extinguished, an amount equal to eight and one-third times the aggregate of the annual amount of jenmikaram payable to him immediately before the appointed day, after deducting a sum equal to five per centum of the said aggregate on account of collection charges. (2) The amount payable under sub-section (1) shall be deemed to have accrued due from the appointed day and interest thereon shall be payable at the rate of four and a half per centum per annum from the appointed day till the date of payment of the amount, in case the amount is paid in cash or till the date of redemption of the bonds, if the amount is paid in Government bonds. (3) Where the jenmi whose right to receive payment of jenmikaram has been extinguished is, at the commencement of this Act, a religious or charitable institution of a public nature, the Government shall pay to the institution every year an amount equal to the balance arrived at after deducting from the jenmikaram which such institution was entitled to receive immediately before the appointed day, five per centum of such jenmikaram towards collection charges Explanation.- If any question arises as to whether an institution is a religious or charitable institution of a public nature, it shall be decided by the Government after such inquiry as they deem fit, and their decision thereon shall be final. (4) Notwithstanding anything contained in this section, if jenmikaram has been received by or on behalf of any jenmi for any period commencing on the appointed day, it shall be deducted from and adjusted against the amount payable under sub-section (1) or sub-section (3), as the case may be.