Amendment status not verified — confirm the current text below against the official source.
Acquisition of immovable property or easement by agreement.— (1) Whenever it is provided by this Act that the Commissioner may acquire, or whenever it is necessary, or expedient for any purpose of this Act that the Commissioner shall acquire, any immovable property, such property may be acquired by the Commissioner on behalf of the Corporation by agreement on such terms and at such rates or prices, or at rates or prices not exceeding such maximum, as shall be approved by the Standing Committee, either generally for any class of cases or specially in any particular case. (2) Whenever under any provision of this Act the Commissioner is authorised to agree to pay the whole or any portion of the expenses of acquiring any immovable property, he shall do so on such terms, and at such rates or prices, or at rates or prices not exceeding such maximum, as shall have been approved by the Standing Committee: --48-- Provided that no agreement for the acquisition of any immovable property under sub-section (1) or (2) at a price exceeding one lakh rupees shall be valid until such agreement has been approved by the Corporation. (3) The Commissioner may, on behalf of the Corporation, acquire by agreement any easement affecting any immovable property vested in the Corporation, and the provisions of sub-sections (1) and (2) shall apply to such acquisition.