Section 7. Compensation by agreement

7[7. (1) The District Magistrate shall pay to the owner of the storage accommodation requisitioned by him such compensation, as may be agreed upon in writing between him and the owner. (2) The compensation for the requisitioning of the storage accommodation shall consist of (a) a recurring payment, in respect of the period of requsition of sum equal to the rent which would have been payble for the use and occupation of the property if it had been taken on lease for that period; and (b) Such sum, or sums, if any as may be found necessary to compensate the owner for all or any of the following matters namely (i) pecuniary loss due to requisitioning; and (ii) expenses on account of vacating the requsitioned premises.]