Section 16. Mode of payment of amount of compensation.

The amount of compensation payable under the provisions of this Act shall be payable in cash : Provided that, if in the case of any inamdar or holder of cash grant the amount of compensation, other than that payable under the proviso to section 7, exceeds ten thousand rupees, then the excess over ten thousand rupees may be payable in transferable bonds carrying interest at the rate of three per cent. per annum from the date of the issue of such bonds and repayable during a period of twenty years from the date of the issue of such bonds by equated annual instalments of the principal and interest. Such bonds shall be of such denomination and shall be in such form as may be prescribed.]