Amendment status not verified — confirm the current text below against the official source.
^1) If the Municipal Commissioner, on rcceipt of any 'Hiking over information, is satisfied that the owner of a heritage building fails to "^"Sro!11 preserve or conserve lhe heritage building, lhe Municipal Commissioner hcriup; may, when lhe heritage building is vacant and tiflcr hearing [lie owner, by l>u,'tlin£. order in writing, take over the management and control of such heritage building for the purpose of preservation and conservation thereof, suspending the riglu of lhe owner to transfer such heritage building for a period uf five years, subject to acquisition either by agreement i or IS5M. or under the provisions of the Land Acquisition Aui, 1894. (2) The Municipal Commissioner shall thereafter notify lhe heritage building for Idling ii out by agreement to any person as tenant Tor the purpose as aforesaid, and Ihe owner shall be entitled lo an amount equal to Hie reasonable letting value of lhe heritage building as rem less the cost on account of preservation and conservation of lhe heritage building.