(1)Panchayat Samiti shall have power to acquire, hold and dispose of property and to enter into contract with respect thereto;Provided that in every case of disposal of immovable property, it shall have to obtain prior permission of the government.(2)All roads, buildings or other structures constructed by a Panchayat Samiti with its funds shall vest in it.(3)The State government may allot to a panchayat Samiti any public property falling in the latter's jurisdiction and thereafter the said property shall go under control of the said panchayat Samiti;(4)The State government may take back any property allotted to a Panchayat Samiti under sub-section (3). For such transfer no compensation other than the amounts paid by the Panchayat Samiti or the market value, of any building erected or any work executed by the Panchayat Samiti on the said property, prevalent on the date of the take - back, shall be payable.Provided that no compensation in respect of the buildings, structures or works constructed or erected in contravention of the terms and conditions of the vesting shall be payable.(5)If any Panchayat Samiti requires land to fulfill any objective of this Act, it shall negotiate with the person or persons having interest in the said land and, if consent is not arrived at el, shall apply to the District Magistrate for acquisition of the said land. If the latter is satisfied that the land is required for public purposes, he will take measures to acquire the land under the relevant provisions of the land Acquisition Act, 1894 (Act 1 of 1894), and the land having been acquired shall vest in the Panchayat Samiti.(6)Panchayat Samiti Fund - In every Panchayat Samiti, a Panchayat Samiti Fund shall be constituted in the name of the Panchayat Samiti, and the following amounts shall be deposited in its deposit accounts -(a)Contributions and grants made by the central or State Government, if any, wherein is included even such contribution of the land revenue realised in the State as the Government determines;(b)Contributions and grants made by the Zila Parishad or any other local Authority, if any ;(c)Loans sanctioned by the central or State Government or loans taken by a Panchayat Samiti against surity of its own assets, if any ;(d)All amounts realised by it by way of toll, cess and fees items ;(e)All receipts connected with any of the schools, hospitals, dispensaries, buildings, institutions or under constructions vested in the Panchayat Samiti or constructed by it or under its control and management ;(f)Entire income accruing from any trust or endowment and all the amounts received by way of donation and contribution, in favour of the Panchayat Samiti ;(g)Fines and monetary penalties, imposed and realised, as specified under the provisions of this Act or under the bye-laws made thereunder ;(h)All other amounts received by the Panchayat Samiti or on its behalf.(7)Every Panchayat Samiti, for fulfillment of the following requirements, shall keep apart such amounts and shall use the same annually; which -(a)includes the expenditure of its own administration together with payment of salary, allowances, provident fund and gratuity to its officers and employees as well as the secretary;(b)Every Panchayat Samiti shall have power to spend such an amounts as it considers proper for implementation of the objectives of this Act;(c)Panchayat Samiti Fund shall be vested in the Panchayat Samiti and the deposit money of the fund shall as prescribed be kept in such a custody as the State Government may time - to - time direct.(8)Subject to such general control as the Panchayat Samiti may adopt from time to time, all orders and cheques for payment from the Fund of the Panchayat Samiti shall bear the signature of the Executive Officer .(9)Subject to the provisions of any law concerned with raising of loans for the time being in force, the Panchayat Samiti through local Authorities, with the approval of the State Government, may raise loans from time to time for the purposes of this Act and may create a deposit fund for refund of the said loans.(10)Panchayat Samiti, on the basis of the specific schemes as may prepared by the Panchayat Samiti for the purpose, may take loans from the Government or with prior permission of the Government from Banks for achievement of its mission,
