- The property belonging to a Municipality may be disposed of in the manner provided in this section, namely-(a)the Chairman-in-Council [may sell, or grant lease of, or otherwise dispose of, by public auction, any movable property] [Substituted by the West Bengal Act 13 of 1995, w.e.f. 5.9.1995, for 'may, in its discretion, dispose of, by sale, lease or otherwise, any movable property'.] belonging to the Municipality;[***] [Proviso omitted by the West Bengal Act 13 of 1995, we.f. 5.9.1995, 'Provided that the State Government may by rules prescribe the value which, if it increases during the process of sale, shall require the prior sanction of the State Government'.](b)[ the Board of Councilors, with the prior approval of the State Government, may; for valuable consideration, let out on hire, grant lease of, or sell or otherwise transfer, any immovable property belonging to the Municipality but not required for carrying out the purposes of this Act;] [[Substituted by ibid, w.e.f. 5.9.1995, old section read as :'(b) the Board of Councilors may, for valuable consideration, let out on hire, give in lease, or sell or otherwise transfer, any immovable property belonging to the Municipality carrying out the purposes of this Act :Provided that the State Government may by rules prescribe the mode of such sale and specify the value which, if it increases by way of consideration, shall require the prior approval of the State Government in this behalf.'.]](c)the Municipality shall not transfer any immovable property vested in it by virtue of this Act, but shall cause the same to be maintained, controlled and regulated in accordance with the provisions of this Act and the rules and the regulations made thereunder :Provided that the State Government may authorise, in the public interest, the disposal of such immovable property by the Municipality if the Board of Councilors so requires for reasons to be recorded in writing.
