State Act

The Mumbai Municipal Corporation Act.

460Q. Provisions governing disposal of municipal property.— With respect to the disposal of property vesting in the corporation for the purposes of the 7[Brihan Mumbai Electric Supply and Transport Undertaking] the following provision shall have effect, namely:— (a) the General Manager may 8[* * * *] dispose of by sale, hire purchase or otherwise, any movable property belonging to the corporation not exceeding in value in each instance, 9[ten thousand rupees]; (b) the General Manager may grant a lease of any immovable property belonging to the corporation for any period not exceeding twelve months at a time: 10[Provided that, every lease granted by the General Manager (other than a contract for monthly tenancy) the annual rent of which exceeds 11[seventy-five thousand rupees] shall be reported by him, within fifteen days after the same has been granted, to the 12[Brihan Mumbai Electric Supply and Transport Committee].] (c) with the sanction of the 13[Brihan Mumbai Electric Supply and Transport Committee] the General Manager may dispose of, by sale or otherwise, any movable property belonging to the corporation of which the value does not exceed 14[five lakh rupees] and may grant a lease of any immovable property belonging to the corporation 15[for any continuous period] exceeding one year, or sell or grant a lease in perpetuity of any immovable property belonging to the corporation the value whereof does not exceed 1[five lakh rupees] of the annual rental whereof does not exceed 2[fifty thousand rupees]; (d) with the sanction of the corporation, the General Manager may lease, sale or otherwise convey any property, movable or immovable, belonging to the corporation.