(1) In any case under this Chapter in which the ¹[State Government] considers that, in lieu of placing the forest or land under the control of a Forestofficer, the same should be acquired for public purposes, the ¹[State Government] may proceed to acquire it in the manner provided by the Land Acquisition Act, 1894 (1 of 1894).
     (2) The owner of any forest or land comprised in any notification under section 35 may, at any time not less than three or more than twelve years from the date thereof, require that such forest or land shall be acquired for public purposes, and the ¹[State Government] shall acquire such forest or land accordingly.