Amendment status not verified — confirm the current text below against the official source.
Power to acquire, hold and dispose of Property - (1) A Panchayat Samiti shall have the power to acquire, hold and dispose of property and to enter into contracts : Provided that in all cases of disposal of immovable property, the Panchayat Samiti shall obtain the prior approval of the Government. 59 (2) All roads, buildings or other works constructed by a Panchayat Samiti with its own funds shall vest in it. (3) The State Government may allocate to a Panchayat Samiti any public property situated within its jurisdiction and thereupon such property shall come under the control of the Panchayat Samiti. (4) Where a Panchayat Samiti requires land to carry out any of the purposes of this Act, it may negotiate with the person or persons having interest in the said land, and if it fails to reach an agreement, it may make an application to the District Magistrate for the acquisition of the land, who may, if he is satisfied that the land is required for a public purpose, take steps to acquire the land under the provisions of the Land Acquisition Act, 1894 (Act 1, 1894) and such land shall, on acquisition, vest in the Panchayat Samiti.