Rights of certain other lessees

(1) In cases not governed by any other provision this Act, where on or after the 1st day of June 1961, but before the appointed day, a janmi has created by way of lease or otherwise rights in any mines or mineral, quarries, fisheries or ferries, the transaction shall be deemed to be valid; and all rights and obligations arising thereunder, on or after the appointed day, 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 the 1st day of June 1961, 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 State Government in such manner as may be prescribed, having regard to the value of the right and the period for which the right was created. (c) Where any such right created before the 1st day of June 1961 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 appointed day 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. (3) The Government, may, if in their opinion, it is in the public interest to do so, impose reasonable restrictions on the exercise of any right continued under this section. Explanation.—Any rights granted in perpetuity shall cease and determine and be dealt with under section 3(e) and not under this section.