JAMMU AND KASHMIR REQUISITIONING AND ACQUISITION OF IMMOVABLE PROPERTY (AMENDMENT) ACT, 1977

Preamble - JAMMU AND KASHMIR REQUISITIONING AND ACQUISITION OF IMMOVABLE PROPERTY (AMENDMENT) ACT, 1977

THE JAMMU AND KASHMIR REQUISITIONING AND ACQUISITION OF IMMOVABLE PROPERTY (AMENDMENT) ACT, 1977

[Act No. 06 of 1977]

[26th October, 1977]

PREAMBLE

An Act to amend the Jammu and Kashmir Requisitioning and Acquisition of Immovable Property Act, 1968.

Be it enacted by the Jammu and Kashmir State Legislature in the Twenty-eighth Year of the Republic of India as follows:--

 

Section 1 - Short title

This Act may be called the Jammu and Kashmir Requisitioning and Acquisition of Immovable Property (Amendment; Act, 1977.

 

Section 2 - Amendment of section 8, Act XXXV of 1968

For sub-section (3) of section 8 of the Jammu and Kashmir Requisitioning and Acquisition of Immovable Property Act, 1968, the following sub-section shall be substituted, namely:--

"(3) The compensation payable for the acquisition of any property under section 7 shall in the absence of an agreement be the price which the requisitioned property would have fetched in open market, if it had remained in the same condition as it was at the time of requisitioning and been sold on the date of acquisition.''