Rent payable when Land Tribunal has not determined fair rent

(1) Where in a case the rent payable in respect of a holding has not been determined by the Land Tribunal, either under section 37 or section 39, the landlord shall be entitled to receive and the tenant shall be bound to pay at his option,— (a) in the case of nilams, 50 per cent of the contract rent, or 75 per cent of the fair rent, if any, determined under any law in force immediately before the 22nd day of March, 1968; (b) in the case of other lands, 75 per cent of the contract rent, or the fair rent, if any, determined under any law in force immediately before the 22nd day of March, 1968. (2) The provisions contained in sub-section (1) shall be without prejudice to the provisions contained in section 40. Explanation.— [omitted]