(1)The Board, on receipt of an application of a Project or on its own accord, recommend to the Government to demarcate and notify certain areas as notified areas for the purpose of investment promotion under this Act.(2)On receipt of such recommendation from the Board, the Government may demarcate either whole area as recommended or part thereof and may by notification in the Official Gazette, declare such area, to be notified area for the purpose of investment promotion under this Act (hereinafter referred to as "Investment Promotion Area").(3)Upon demarcation and notification of any area under sub-section (2), the provisions of the Goa Municipalities Act, 1968 (Act 16 of 1968), the City of Panaji Corporation Act, 2002 (Goa Act 1 of 2003), the Goa Panchayat Raj Act, 1994 (Goa Act 14 of 1994), the Goa Land Revenue Code, 1968 (Act 9 of 1969), the Goa (Regulation of Land Development and Building Construction) Act, 2008 (Goa Act 6 of 2008), the Goa Town and Country Planning Act, 1974 (Act 21 of 1975) and the rules, regulation framed thereunder, the Regional Plan, the Outline Development Plan, Land Use Map and the provisions of other local Acts, as the case may be, shall cease to apply to the notified areas referred to in sub-section (2).(4)Upon declaration and notification of an area under sub-section (2), all powers, functions and duties under the Acts referred to in sub-section (3) and under other Statutes and the rules, regulations framed thereunder shall be vested, conferred upon, and discharged by the Secretary to the Government of the concerned Department and he shall have all the powers to accord clearances on such terms and conditions and on payment of such fees, as prescribed under relevant Statute.
