| (1) | The
Chairperson may, with the sanction of the Council, lease, let out on hire or otherwise
transfer any immovable property belonging to the Council. |
| (2) | The
consideration for which any immovable property may be sold, leased or otherwise
transferred shall not be less than the value at which such immovable property
could be sold, leased or otherwise transferred in normal and fair completion.
|
| (3) | The
sanction of Council under section 140 or this section may be given either generally
for any class of cases or specially for any particular case. |
| (4) | Subject
to any conditions or limitation that may be specified in any other provisions
of this Act the foregoing provisions of section 140 and this section shall apply
to every disposal of property belonging to the Council made under, or for any
purpose of this Act. |
| (5) | Every
case of disposal of property under sub-section (1) of section 140 shall be reported
by the Chairperson without delay to the Council. |