39. Compulsory acquisition of land

(1)

When any immovable property, not being State land, is needed to be acquired by the Bank for the purposes of this Act, such property may be acquired in accordance with the provisions of any written law relating to the acquisition of land for a public purpose for the time being in force in the

State in which such property is situate, and any declaration required by any such written law that such land is so needed may be made notwithstanding that compensation is to be paid by the Bank; and such declaration shall have effect as if it were a declaration that such land is needed for a public purpose in accordance with such written law.

(2)

The expenses and compensation in respect of any immovable property acquired under this section shall be paid by the Bank.

(3)

When any immovable property has been acquired under this section, the Bank shall extract the necessary documents of title in respect of such property and shall pay any rent to which such property may be subject.

Report

Part VIII

Repeal and Transitional

Read on from Part VIII

39. Compulsory acquisition of land

Terms defined in s 2

Repeal and Transitional