Rights of certain lessees and others.

(1) In cases not governed by any other provision of this Act, where on or after (i) the 1st day of July 1950 in the case of an existing inam estate; and (ii) the 1st day of April 1960 in the case of a new inam estate, but before the notified date, a landholder has created, by way of lease or otherwise, rights in any mines or minerals, quarries, fisheries or ferries, the transaction shall be deemed to be valid and all rights and obligations arising thereunder, on or after the notified date, shall be enforceable by or against the Government: Provided that the transaction was not void or illegal under any law in force at the time and that any such right was created for a period not exceeding one year. (2) (a) Where any such right was created before (i) the 1st day of July 1950 in the case of an existing inam estate; and (ii) the 1st day of April 1960 in the case of a new inam estate, for a period exceeding one year, the Government may, if in their opinion, it is in the public interest to do so, by notice given to the person concerned terminate the right with effect from such date as may be specified in the notice, not being earlier than three months from the date thereof. (b) The person whose right has been so terminated shall be entitled to compensation from the Government which shall be determined by the Board of Revenue in such manner as may be prescribed, having regard to the value of the right and the period for which the right was abated. (c) Where any such right created before (i) the 1st day of July 1950 in the case of an existing inam estate; and (ii) the 1st day of April 1960 in the case of a new inam estate is not determined under this sub-section, the transaction whereby such right was created shall be deemed to be valid and all rights and obligations arising thereunder, on or after the notified date, shall be enforceable by or against the Government: Provided that the transaction was not void or illegal under any law in force at the time.