Constitution of Regional development authority

(1) The State Government may, by notification, constitute a Regional development authority for the Special Investment Region area declared under section 3. (2) Every Regional development authority constituted under sub- section (1), shall be a body corporate and shall have perpetual succession and a common seal, with power to acquire, hold and dispose off movable and immovable property and to contract, and by the said name, to sue and be sued. (3) Notwithstanding anything contained in section 10 and 11, the State Government may, instead of constituting a Regional development authority for a Special Investment Region or an industrial area, designate a Government agency or a Government company as the Regional development authority and empower it to exercise all the powers and perform all the functions as specified under section 15.