Section 23B. Liquidation of secured debt recoverable from compensation and rehabilitation grant.

23-B. (1) Without prejudice to the provisions of section 8 of the U. P. Zamindars’ Debt Reduction Act, 1952, the amount or the bonds on account of compensation or rehabilitation grant received by the Collector in pursuance of the requisition under section 23-A shall be expended or utilized by the Collector in liquidation of the amount of the secured debt which having regard to the provisions of the U. P. Zamindars’ Debt Reduction Act, 1952, was secured on the proprietary rights in land in respect of which such money has been received. (2) If any balance out of the compensation or rehabilitation grant received by the Collector in pursuance of the requisition under section 23-A remains in the lands of the Collector after utilizing the same in accordance with the provisions of sub-section (1), such balance shall be utilized by the Collector in discharging the debts, other than the debts, referred to in the said sub-section in order of priority.]1