Section 47 of LARR Act, 2013 : Section 47: Quantification And Deposit Of Rehabilitation And Resettlement Amount

Explanation using Example

Imagine a company needs to acquire land to build a new factory. The land acquisition will displace several families living there. Under the Act, the company (Requiring Body) must provide measures for the rehabilitation and resettlement of those affected. However, the Collector overseeing the acquisition process believes that these obligations can be quantified into a monetary sum rather than providing actual rehabilitation services or resettlement parcels of land. In this case, the Collector allows the company to deposit the calculated amount of money into a specific account. This account is managed by an Administrator, who is responsible for ensuring that the funds are used appropriately to support the displaced families' resettlement, all under the Collector's supervision. This provision ensures that the affected families are compensated fairly and can start anew elsewhere.