Power to finance projects and schemes and impose conditions therefore

The Authority shall be competent to give grants, advances or loans to, or to share expenses with, any local authority or other authority in notified Satellite City Development Areas, for any of the purposes of section 7, and notwithstanding anything contained in any law for the time being in force, but subject to the restrictions (if any) contained in any laws governing such local authorities, it shall be lawful for such other authority to accept such grants, advances or loans or share in the expenses, subject to such terms and conditions as the Authority may, from time to time, in consultation with such other authority, specify.