Section 189. Alternative to payment of Betterment tax

(1) A person liable to pay Betterment tax may at his option instead of paying thereof to the 2Corporation, execute an agreement with the 2Corporation to leave the said payment outstanding as a charge on his interest in the land, subject to the payment in perpetuity of interest at the rate of 6 per cent per annum.\br@s (2) A person who has exercised his option under sub-section (1) may, at any time, subject to his giving six months’ notice of his intention, pay the amount of Betterment tax assessed under section 188.\br@s