(1)The provisions of this Chapter in so far as they relate to the implementation of an improvement scheme in a bustee or slum, shall apply mutatis mutandis in the case of execution of an area development project.(2)The Board of Councilors may, if it considers necessary and with the sanction of the State Government, provide for corporate funding for execution or maintenance of an area development project and channelise fund through an association of inhabitants or voluntary organization of the area and also secure financial resources from banks or similar institutions to augment such fund which may be administered by such association in accordance with such procedure as may be prescribed.
