Acquisition of land.

(1) The Agency shall, after the scheme is finally published under sub-section (2) of section 8, proceed to acquire the land by executing an agreement with owner in such form and on such terms and conditions as may be prescribed by the State Government. (2) The Agency shall submit the proposal of acquiring land under the Land Acquisition Act, 1894 (No. 1 of 1894) to the District Collector of such land whose owner does not enter into the agreement mentioned in sub-section (1) hereinabove within a period of six months from the date of publication of the scheme in the Gazette. (3) The Collector of the district may, on an application made in this behalf by the Agency, allot the Government land after following the due procedure to the Agency and such land shall hereafter rest in the Agency free of all encumbrances. (4) The Agency shall undertake execution of the investment region development and management scheme on the land or part thereof which may have been acquired by it through agreement, under sub-section (1) or acquisition under sub-section (2) hereinabove in such manner as may be prescribed.