(1)Upon the sanction of any scheme under this Chapter, a Municipality may acquire any immovable property for the purposes of the scheme, by agreement, and failing that by acquisition under the provisions of the Land Acquisition Act, 1894 (Punjab Act 1 of 1894) as modified by this Act, as per the Second Schedule to this Act and the provisions of section 170 and section 171 shall apply.(2)All acquisition of land and interest in land for any scheme sanctioned under this Chapter, shall be completed at least upto the stage of making of awards within a period of two years from the date of the notification of the scheme under section 438 and if in respect of any land, the acquisition is not so completed the owner and occupier thereof, shall cease to be subject to any liability under this Chapter.
