Amendment status not verified — confirm the current text below against the official source.
(1) The State Government may, from time to time, by notification in the official gazette, declare any area to be a new mandi township for the purposes of this Act to be known by such name as may be specified in the notification. Power of State Government to declare New Mandi Townships and to transfer land and building therein. (2) 1[Subject to the provisions of this section, the State Government may] sell, lease or otherwise transfer, by auction, allotment or otherwise, any land or building belonging to or 2[vested in the State Government, Punjab State Agricultural Marketing Board or Market Committee, as the case may be] in any new mandi township on such terms and conditions as it may, subject to any rules that may be made under this Act, deem fit to impose. (3) 3[The consideration money for any transfer under sub- section (2) shall be paid to the 4{State Government, Punjab State Agricultural Marketing Board or Market Committee, as the case may be} in such manner, in such instalments and at such rate of interest as may be prescribed. (4) Notwithstanding anything contained in any other law for the time being in force, until the entire consideration money together with 1 Substituted words "The State Government may" by Punjab Act No.16 of 1981, section 2(i). 2 Substituted words "vested in the State Government" by Punjab Act No.11 of 2001, section 2(i). 3 Substituted for sub-section (3) by Punjab Act No.16 of 1981, section 2(ii), it shall deem to come into force on the 1st day of November,1966 except sections 6,8 and 9 which shall come into force at once. 4 Substituted words "State Government" by Punjab Act No.11 of 2001, section 2(ii). Validation.-Notwithstanding any judgment, decree or order of any court, anything done or any action taken (including any notice issued, any order made for resumption of any site or building, or both, as the case may be, or any such resumption effected, or any order made for the recovery of any arrears or any arrears recovered, or any penalty imposed or recovered) or purported to have been done or taken under the principal Act shall, in so far as it is consistent with the provisions of the principal Act, as amended by this Act and accordingly no suit or other legal proceeding shall be maintained or continued in any court- (i) for the recovery of any site or building, or both, as the case may be, which has or have been resumed; or (ii) for the cancellation of any order made for the presumption of any site or building, or both, as the case may be; or (iii) for the recovery of any money forfeited; or (iv) for the cancellation of any order made for the forfeiture of any money; or (v) for the refund of any arrears recovered ; or (vi) for the cancellation of any order made for the recovery of any arrears; or (vii) for the refund of any penalty recovered; or (viii) for the cancellation of any order imposing any penalty. interest or any other amount, if any, due to the 1{State Government, Punjab State Agricultural Marketing Board or Market Committee}, as the case may be on account of the transfer of any site or building, or both under sub-section (2) is paid, such site or building, or both, as the case may be, shall continue to belong to the 2{State Government, Punjab State Agricultural Marketing Board or Market Committee, as the case may be}.]