2. Substitution of section 43, Rajasthan Act No. 35 of 1959.-

For the existing section 43 of the Rajasthan Urban Improvement Act, 1959 (Act No. 35 of 1959), hereinafter in this Chapter referred to as the principal Act, the following shall be substituted, namely:-

"43. Land to vest in the Trust and its disposal.- (1) Notwithstanding anything contained in the Rajasthan Land Revenue Act, 1956 (Act No. 15 of 1956), the land as defined in section 103 of that Act, excluding land referred to in sub-clause (ii) of clause (a) of the said section and Nazul land placed at the disposal of a local authority under section 102-A of that Act in urban area shall, immediately after establishment of the Trust under section 8 of this Act, be deemed to have been placed at the disposal of and vested in the Trust which shall take over such land for and on behalf of the State Government and may use the same for the purposes of this Act, and may dispose of the same by way of allotment, regularization or auction subject to such conditions and restrictions as the State Government may, from time to time, lay down and in such manner, as it may, from time to time, prescribe:

Provided that the Trust may dispose of any such land-

(a) without undertaking or carrying out any improvement thereon; or

(b) after undertaking or carrying out such improvement as it thinks fit, to such person, in such manner and subject to such covenants and conditions, as it may consider expedient to impose for securing improvement according to plan.

(2) No improvement of any land shall be undertaken or carried out except by or under the control and supervision of the Trust.

(3) If any land vested in the Trust is required at any time by the Municipality, for carrying out its functions, or by the State Government for any other purpose, the State Government, may by notification in the Official Gazette, place such land at the disposal of the Municipality or any Department of the State Government on such terms and conditions as may be deemed fit."