Himachal Pradesh Kutlehar Forest (Acquistion of Management) (Amendment) Act, 1994*
| [Himachal Pradesh Act No. 3 of 1995]1 | [22nd February, 1995] |
An Act to amend the Himachal Pradesh Kutlehar Forest (Acquisition of Management) Act, 1992 (Act No. 19 of 1992).
Be it enacted by the legislative Assembly of lite Himachal Pradesh in the Forty-fifth Year of the Republic of India, as follows:-
1. Passed in Hindi by the Himachal Pradesh Vidhan Sabha For Statement of Objects and Reasons see E.H.P. Extra. dated 19-9-1994, p. 2440 & 2442.
* Received the assent of the President of India on the 22nd February, 1995 and was published in Hindi and English in R.H.P. Extra., dated 10th March, 1995 at pages 1001 & 1002.
1. Short title.- This Act may be called the Himachal Pradesh Kutlehar Forest (Acquisition of Management) (Amendment) Act, 1994.
2. Substitution of section 5.- For section 5 of the Himachal Pradesh Kutlehar Forest (Acquisition of Management) Act, 1992 (19 of 1992), the following section shall be substituted, namely:-
"5. Amount to be paid by the Government.- (1) In consideration of the vesting in the Government the right, title and interest of any person under section 4, the Government shall, subject to the provisions of this Act pay to such person an amount equivalent to the net income, after deduction of all lawful expenses incurred by him in the management, accrued to him during the five financial years, preceding immediately the publication of this Act in the Official Gazette, in five annual equal instalments.
(2) The amount payable under sub-section (1) shall be paid on the 1st day of June, every year for a period of five years from the appointed day and shall bear interest at the rate of 10 per cent per annum from the date such amount becomes payable till the date of payment."