Amendment status not verified — confirm the current text below against the official source.
(1) Where a Municipality has decided to transfer a municipal property, it shall execute a registered agreement or a deed, clearly giving the terms and conditions of the transfer. (2) Every agreement executed by a Municipality for transfer of property under this Act shall have appropriate penal clauses as specified 1n the agreement and in keeping with the provisions of this Act. (3) The Municipality shall have the right to get the municipal property vacated in case the agreement executed by it, is violated in any manner by the person in whose favour the municipal property has been transferred.