Renewal debentures

§166

Summary

(1) A person claiming to be entitled to a debenture issued under this Act, may on applying to the 2Municipal Commissioner and on satisfying him of the justice of his claim and delivering the debenture receipted in such manner and paying such fee as may be prescribed by the 2Municipal Commissioner obtain a renewed debenture payable to the person applying.\br@s (2) Where there is a dispute as to the title to a debenture issued under this Act in respect of which an application of renewal has been made, the 2Municipal Commissioner may —\br@s (a) where any party to the dispute has obtained a final decision from a Court of competent jurisdiction declaring him to be entitled to such debenture, issue a renewed debenture in favour of such party;\br@s (b) refuse to renew the debenture until such decision has been obtained ; or\br@s (c) after such inquiry as is hereinafter provided and on consideration of the result thereof declare by order in writing which of the parities is in his opinion entitled to such debenture and may, after the expiration of three months from the date of such declaration, issue a renewed debenture in favour of such party in accordance with the provisions of sub-section (1) unless within that period he has received notice that proceedings have been instituted by any person in a court of competent jurisdiction for the purpose of establishing a title to such debenture.\br@s Explanation— For the purposes of this sub-section the expression “final decision” means a decision which is not appealable or a decision which is appealable but against which no appeal has been filed within the period of limitation allowed by law.\br@s (3) For the purposes of the inquiry referred to in sub-section (2) the 1Municipal Commissioner may himself record or may request the District Magistrate to record or to have recorded by nay Magistrate subordinate to him the whole or any part of such evidence as the parities may produce. The Magistrate who records the evidence shall forward the record of such evidence to the 1Municipal Commissioner.\br@s (4) The 1Municipal Commissioner or any Magistrate acting under this section may, if he thinks fit, record evidence on oath.\br@s

(1) A person claiming to be entitled to a debenture issued under this Act, may on applying to the 2Municipal Commissioner and on satisfying him of the justice of his claim and delivering the debenture receipted in such manner and paying such fee as may be prescribed by the 2Municipal Commissioner obtain a renewed debenture payable to the person applying.\br@s (2) Where there is a dispute as to the title to a debenture issued under this Act in respect of which an application of renewal has been made, the 2Municipal Commissioner may —\br@s (a) where any party to the dispute has obtained a final decision from a Court of competent jurisdiction declaring him to be entitled to such debenture, issue a renewed debenture in favour of such party;\br@s (b) refuse to renew the debenture until such decision has been obtained ; or\br@s (c) after such inquiry as is hereinafter provided and on consideration of the result thereof declare by order in writing which of the parities is in his opinion entitled to such debenture and may, after the expiration of three months from the date of such declaration, issue a renewed debenture in favour of such party in accordance with the provisions of sub-section (1) unless within that period he has received notice that proceedings have been instituted by any person in a court of competent jurisdiction for the purpose of establishing a title to such debenture.\br@s Explanation— For the purposes of this sub-section the expression “final decision” means a decision which is not appealable or a decision which is appealable but against which no appeal has been filed within the period of limitation allowed by law.\br@s (3) For the purposes of the inquiry referred to in sub-section (2) the 1Municipal Commissioner may himself record or may request the District Magistrate to record or to have recorded by nay Magistrate subordinate to him the whole or any part of such evidence as the parities may produce. The Magistrate who records the evidence shall forward the record of such evidence to the 1Municipal Commissioner.\br@s (4) The 1Municipal Commissioner or any Magistrate acting under this section may, if he thinks fit, record evidence on oath.\br@s

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