Power to dispose of property.

(1) The ¹Corporation shall, for the purposes of this Act, and subject to the provisions thereof and rules made thereunder, have power to sell, let on hire, lease, exchange, mortgage, grant or otherwise dispose of any property of any interest therein acquired by or vested in the ¹Corporation under this Act : <span style="margin-left:15px;"></span>Provided that no property transferred to the ¹Corporation by the Government shall be sold, let on hire, exchanged or mortgaged or otherwise conveyed in any manner contrary to the terms of the transfer except with the prior sanction of the State Government. ²ic0560(2) For safeguarding the interest of weaker section of the society in an urban area, the State Government may issue directions as it may think fit with respect to the acquired or vested land in a municipal Corporation.] <br>