Power of authority to make bulk allotment.

Notwithstanding anything contained in this Act or development scheme sanctioned under this Act, the Authority may, subject to any restriction, condition and limitation as may be prescribed, make bulk allotment by way of sale, lease or otherwise of any land which belongs to it or is vested in it or acquired by it for the purpose of any development scheme,-

(i) to the State Government ; or

(ii) to the Central Government ; or

(iii) to any corporation, body or orginsation owned or controlled by the Central Government or the State Government ;or

(iv) to any housing co-operative society registered under the Karnataka Co-operative Societies Act, 1959 (Karnataka Act 11 of 1959) ; or

(v) to any society registered under the Karnataka Societies Registration Act, 1960 (Karnataka Act 17 of 1960) ; or

(vi) to a trust created wholly for charitable, educational or religious purpose :

Provided that prior approval of the Government shall be obtained for allotment of land to any category listed above.