Effect of transactions bonafide.

Where the Government are of opinion that any licensee has on or after the 1st October 1947, disposed of any fixed asset whether by way of sale, exchange, gift, lease or otherwise or incurred capital expenditure, otherwise than in the normal course of events with a view to benefit unduly the licensee or some other person and thereby caused loss to the Government as succeeding owners of the undetaking, the Government shall be and shall be deemed always to have been entitled to deduct from the compensation payable to the licensee under this Act, an amout which they consider or considered to be the loss sustained by them:

Provided that notice of the intention to make such deduction shall be or shall have been given to the licensee within one year from the vesting date.