(1) At any time prior to issue of the notification under sub-section (1) of Section 3, the State Government may, by notification in the Gazette, invite from intermediaries as are proprietors of permanently settled estates and intermediaries governed by the law of primogeniture, in respect of the areas specified in the said notification, proposals for surrender of their respective estates, to be received within a period of one month from the date of such notification in the Gazette. Such proposals shall be in writing and shall contain specific terms and conditions on which the surrender is proposed to be made. The State Government may thereupon intimate their decision to the said Intermediaries within a month from the date of receipt of said proposals whether the said proposals shall be taken into consideration or not by the State Government and such decision shall be final and shall not be called in question in any court of law.
(2) If the State Government decide to consider any of the aforesaid proposals the Intermediaries with respect to such proposals, may by written agreement, surrender in return for compensation in the form of such perpetual annuity and on such terms and conditions as may be fixed in the said agreement and thereupon all the consequences enumerated in Section 5 shall ensure immediately;
Provided that the said perpetual annuity shall not exceed a sum equivalent to three and a half percentum of the amount of compensation which in the opinion of the Board of Revenue would be payable under Section 28.
1. Substituted by the Orissa Estates Abolition (Amendment) Act, 1952 (Orissa Act XVIII of 1952) s.4
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