Amendment status not verified — confirm the current text below against the official source.
Power of Board to lease, sell or transfer property.- Subject to such restrictions, conditions and limitations as may be prescribed, the Board shall have power to lease, sell or otherwise transfer any movable or immovable property which belongs to it, and to appropriate or apply any land vested in or acquired by it for the formation of open spaces or for building purposes or in any other manner for the purpose of any development scheme. 1[37A. Power of the Bagalkot Town Development Authority to make bulk allotment.- Notwithstanding anything contained in this Act or development scheme sanctioned under this Act, the Bagalkot Town Development Authority may, subject to any restriction, condition and limitation as may be prescribed, make bulk allotment by way of sale, lease or otherwise of any land which belongs to it or is vested in, or acquired by it, for the purpose of any development scheme,- (i) to the State Government; or (ii) to the Central Government; or (iii) to any Corporation, Body or Organisation owned or controlled by the Central Government or the State Government; or (iv) to any Housing Co-operative Society registered under the Karnataka Co- operative Societies Act, 1959 (Karnataka Act 11 of 1959); or (v) to any society registered under the Karnataka Societies Registration Act, 1960 (Karnataka Act 17 of 1960); or (vi) to a trust create wholly for the charitable, educational or religious purpose; Provided that prior approval of the Government shall be obtained for allotment of land to any category listed above except category (i)]1