Tenants to pay compensation for rights vested in them.

(1) In consideration of the rights vested in a tenant under section 5, the tenant shall be liable to pay— (i) to the Government— (a) in such manner as may be prescribed an amount which shall be equal to nine times the annual rent on the lands comprised in the holding where such lands are lands adapted for the cultivation of paddy, or five times the annual rent on the lands comprised in the holding where such lands are not lands adapted for the cultivation of paddy; and (b) the basic tax in respect of the lands comprised in his holding from the first day of April, 1959, up to the commencement of this Act; and (ii) to the panchayat the cess in respect of the lands comprised in his holding from the first day of April, 1959, up to the commencement of this Act. (2) Where the annual rent on any land comprised in a holding is fixed in paddy, such annual rent shall, for the purposes of this section, be computed in money at the rate of one rupee and fifty naye paise per para of paddy. (3) The amount payable under sub-clause (a) of clause (i) of sub-section (1)— (a) shall bear interest at the rate of 4 per cent per annum from the date of receipt by the tenant of the order of the officer appointed or authorised under sub-section (2) of section 9, settling such amount; and (b) shall be paid in twelve equal half-yearly instalments together with interest accrued due on the amount outstanding on the date of payment of each instalment: Provided that nothing contained in this sub-section shall be deemed to preclude the tenant from paying such amount in lesser number of instalments than twelve or from paying the whole amount due in one instalment: Provided further that no interest shall be payable on such amount if it is paid in a lump sum within thirty days next following the date of receipt by the tenant of the order referred to in clause (a).