Relinquishment of or exchange of and in lieu of payment of betterment charge.

Notwithstanding anything contained in section 47, the State Government may allow the owner of the land on which betterment charges may be payable to relinquish the whole or any part of the land or to deliver it in exchange in lieu of payment of the charges in favour of the State Government on such conditions as may be prescribed; Provided that no such relinquishment of exchange shall be permitted unless the land is free from encumbrances.