Amendment status not verified — confirm the current text below against the official source.
Vesting of land in Corporation.— (1) When such scheme is sanctioned by 2[the 3[State] Government], in the case of land specified in Schedule W, 4[the 5[State] Government] shall resume the land, and the said land shall thereupon vest in the Corporation. (2) The Commissioner shall then proceed to execute the police accommodation scheme. (3) Any building constructed under this section shall with the site be held by 6[the 7[State] Government] for police purposes for a term of sixty years from the date of the completion of the building, and 8[the 9[State] Government] shall, during the said period, pay yearly to the Corporation by way of rent a sum equal to the total of— (a) the annual interest payable by the Corporation on all moneys, which they have spent on the scheme, and (b) sinking fund, charges so calculated that at the end of the said period the aggregate in the sinking fund shall amount to the total sum spent on the scheme such total sum shall include— (i) all moneys spent on interest and sinking fund charges up to the date of the commencement of the said period; (ii) if and so far as the land included in the scheme is not part of the land specified in Schedule W the cost of such land; (iii) preliminary expenses and an allowance for management and supervision up to the date of the commencement of the said period. (4) The cost of such land for the purposes of this section shall be deemed to be— (a) if and so far as the land has been acquired for the scheme, the actual cost of its acquisition, and (b) in all other cases the market value of the land at the date of the declaration of the scheme. (5) 10[The 11[State] Government] shall maintain the building held by them under sub-section (3) in a state of proper repairs. 1 These words were substituted for the words “Greater Bombay” by Mah. 25 of 1996, s. 2, Schedule. 2 The words “the Provincial Government” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 3 This word was substituted for the word “Provincial” by the Adaptation of Laws Order, 1950. 4 The words “the Provincial Government” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 5 This word was substituted for the word “Provincial” by the Adaptation of Laws Order, 1950. 6 The words “The Provincial Government” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 7 This word was substituted for the word “Provincial” by the Adaptation of Laws Order, 1950. 8 The words “The Provincial Government” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 9 This word was substituted for the word “Provincial” by the Adaptation of Laws Order, 1950. 10 The words “The Provincial Government” were substituted for the word “Government” by the Adaptation of Indian Laws Order in Council. 11 This word was substituted for the word “Provincial” by the Adaptation of Laws Order, 1950. 1888 : III] The Mumbai Municipal Corporation Act 285 (6) On the expiration of the period of sixty years the building and the land forming the site thereof shall vest absolutely in 1[Government]. (7) This section shall apply to all police accommodation schemes sanctioned, hereto for by 2[the 3[State] Government] in accordance with the provisions of the 4City of Bombay Improvement Act, 1898 (Bom. IV of 1898), of the City of Bombay Improvement Trust Transfer Act, 1925 (Bom. XVI of 1925), as if such schemes had been sanctioned under the provisions of this Act. 5[Clearance areas