Section 50: Cancellation of license in public interest.

(1) The Authority may cancel any licence granted under section 43 of this Act whenever it may think proper in the public interest, but in such a case the holder thereof shall be entitled to be paid reasonable compensation by the Authority unless express provision to the contrary is contained in the licence.
(2) When the amount of compensation payable under subsection (1) of this section is not agreed, the amount shall be determined by the High Court within whose area of jurisdiction the pier is situate in the like manner as the amount of compensation is determined under the law for the time being regulating the acquisition of land for public purposes.