Execution of an area development project

Execution of an area development project:

1. (1) The provisions of this Chapter insofar as they relate to the implementation of an improvement scheme in slum, shall apply mutatis mutandis in the case of execution of an area development project, subject to such directions and reservations as the State Government may by a notification impose.
2. (2) The Board of Councillors may, if it considers necessary and with the sanction of the State Government, provide for corporate funding for execution or maintenance of an area development project and channelise fund through an association of inhabitants or voluntary organisation of the area and also secure financial resources from banks or similar institution to augment such fund which may be administered by such association in accordance with such procedure as may be prescribed.