State Act

The Punjab Requisitioning and Acquisition of Movable Property Act, 1978

8. The amount determined by the competent authority for requisitioning or acquiring property shall be paid to the person or persons entitled thereto within such period, at such intervals and in such manner, as may be prescribed : Provided that where the payment of the amount is delayed beyond the period so prescribed, interest shall be payable on the amount or part of the amount in arrear at such rate not being below three per cent or above six per cent per annum and with effect from such date or dates as may be prescribed.