Amendment of Section 5

In Section 5 of the principal Act,- (a) in sub-section (1), for the words "four lakh twenty five thousand rupees", the words "five lakh rupees" shall be substituted; (b) in sub-section (2),– (i) for the words "one lakh rupees", the words "one lakh fifty thousand rupees" shall be substituted; (ii) in clause (b) of first proviso, for the words "twenty five thousand rupees", the words "the amount opted by him" shall be substituted; (c) in the fourth proviso, for the words "fifty thousand rupees", the words "one lakh rupees" shall be substituted.