State Act

THE PUNJAB MANAGEMENT AND TRANSFER OF MUNICIPAL PROPERTIES ACT, 2020

8. (1) Every auction of a municipal property under this Act shall be done through e-auction and shall be subject to a reserve price determined under section 7 of this Act. (2) The Officer of the Municipality shall cause to publish a public notice of the intention of the Municipality to auction a municipal property: Provided that no auction shall be conducted until the expiry of at least thirty days from the publication of such a notice. (3) Every notice issued under sub-section (2) shall give clear details of the municipal property, including its reserve price, location and size in addition to the terms and conditions of the auction: Provided that the Government may prescribe any or all of the terms and conditions of the auction, and such terms and conditions, shall be clearly mentioned in the notice. (4) Notwithstanding anything contained in this section, where it is observed that the prospective bidders have come to a tacit understanding to depress the bid price, the Municipality may, after recording reasons in writing and with the prior approval of the Government, invite sealed bids in place of an e-auction.