Amendment status not verified — confirm the current text below against the official source.
The property belonging to a Municipality may be disposed of in the manner provided in this section, namely— (a) the Chairman-in-Council may, in its discretion, dispose of, by sale, lease or otherwise, any movable property belonging to the Municipality: Provided that the State Government may by rules prescribe the value which, if it increases during the process of sale, shall require the prior sanction of the State Government; (b) the Board of Councillors may, for valuable consideration, let out on hire, give in lease, or sell or otherwise transfer, any immovable property belonging to the Municipality for carrying out the purposes of this Act: Provided that the State Government may by rules prescribe the mode of such sale and specify the value which, if it increases by way of consideration, shall require the prior approval of the State Government in this behalf; (c) the municipality shall not transfer any immovable property vested in it by virtue of this Act, but shall cause the same to be maintained, controlled and regulated in accordance with the provisions of this Act and the rules and the regulations made thereunder: 246 The West Bengal Municipal Act, 1993. XXII of 1993.1 (Part 111.—Finance.—Chapter VIII MunicipalProperty.— Section 81.—Chapter IX.—Budget, Accounts and Audit.—Section 82.) Provided that the State Government may authorise, in the public interest, the disposal of such immovable property by the Municipality if the Board of Councillors so requires for reasons to be recorded in writing.