Amendment status not verified — confirm the current text below against the official source.
Provisions governing the disposal of Municipal, property or property vesting in or under the management of Corporation.— (1) No lands, streets, public places, drains or irrigation channels shall be sold, leased or otherwise alienated, save in accordance with such rules as the State Government may make in this behalf. (2) Subject to the provisions of sub-section (1):— (a) the Commissioner may, in his discretion, grant a lease of any immovable property belonging to the Corporation including any right of fishing or of gathering and taking fruit, flower and the like, of which the premium or rent, or both, as the case may be, does not exceed ten thousand rupees for any period not exceeding twelve months at a time: Provided that every such lease granted by the Commissioner other than a lease of a class in respect of which the Standing Committee has by resolution exempted the Commissioner from compliance with the requirements of this provision, shall be reported by him to the Standing Committee within fifteen days after the same has been granted; (b) with the sanction of the Standing Committee the Commissioner may dispose of by sale or otherwise, any such right as aforesaid, for any period not exceeding three years at a time of which the premium or rent or both, as the case may be, for any one year does not exceed fifty thousand rupees; (c) with sanction of the Corporation the Commissioner may lease, sell or otherwise convey any immovable property belonging to the Corporation. (3) The Commissioner may,— (a) in his discretion, dispose off, by sale or otherwise, any movable property belonging to the Corporation not exceeding ten thousand rupees in value; (b) with the sanction of the Standing Committee, dispose off by sale or otherwise any movable property belonging to the Corporation; (c) with the sanction of the Corporation, sell or otherwise convey any movable property belonging to the Corporation. (4) The sanction of the Standing Committee or of the Corporation under sub-section (2) or sub-section (3) may be given either generally for any class of cases or specifically in any particular case. (5) The foregoing provisions of this section shall apply to every disposal of property belonging to the Corporation made under, or for the purposes of, this Act: Provided that— (i) no property vesting in the Corporation in a trust shall be leased, sold or otherwise conveyed in a manner that is likely to affect the trust subject to which such property is held; (ii) no land exceeding one lakh rupees in value shall be sold, leased or otherwise --50-- conveyed without the previous sanction of the State Government and every sale, lease or other conveyance of property vesting in the Corporation shall be deemed to be subject to the conditions and limitations imposed by this Act or by any other enactment for the time being in force.