Special Purpose vehicle

(1) Notwithstanding anything contained in the Punjab Municipal Act, 1911 (Punjab Act No. 3 of 1911) and the Punjab Municipal Corporation Act, 1976 (Punjab Act No. 42 of 1976), the State Government may, by notification, create Special Purpose Vehicle comprising of all Allottees of the Industrial Area for the common infrastructure in relation to an Industrial Area. (2) The objectives of the Special Purpose Vehicle shall be as follows,- (a) It shall provide efficient service to the Allottees at reasonable service charges; and (b) It shall work for the cause of good maintenance of common infrastructure. (3) The Special Purpose Vehicle shall operate within its jurisdiction on 'no profit, no loss' basis.