Amendment status not verified — confirm the current text below against the official source.
(1) Subject to any directions given by the State Government in this behalf, the Authority may dispose of- (a) any land acquired by the State Government and transferred to it, without undertaking or carrying out any development thereon, or (b) any such land after undertaking or carrying out such deve- lopment as it thinks fit, to such persons, in such manner and subject to such terms and conditions as it considers expedient for securing the development of the special develop- ment areas according to plan. (2) Nothing in this Act shall be construed as enabling such Autho- rity to dispose of land by way of gift, but subject thereto, references in this Act to the disposal of land shall be construed as references to the dis- posal thereof in any manner, whether by way of sale, exchange or lease or by the creation of any easement, right or privilege or otherwise.