Power to purchase lease or sell lands :— Subject to any restrictions imposed

¹ Inserted by the Orissa Act 10 of 1997, wef. 19.05.1997

by or under this Act of rules prescribed, a municipality may subject to the previous sanction of State Government, purchase or take on lease any land for the purpose of this Act and may transfer, by sale, mortgage, lease, gift, exchange or otherwise, any

THE ORISSA MUNICIPAL ACT, 1950 3) property vested in it, not being the property vested in it, or held by it on trust, the terms of which are inconsistent with the right so to transfer.

[Provided that the Municipality may transfer by lease any property vested in it, not being the property vested in it, or held by it, on trust, for a period not exceeding three years including the period of renewal without the previous sanction of the State Government or any other authority, and for a period not exceeding six years including the period of renewal with the previous sanction of the Collector.]