Disposal of Land
Power to dispose of land
101. (1) The Kartripakkha may retain, or may let on hire, lease, sell, exchange or otherwise dispose of any land vested in or acquired by them under this Act.
(2) Whenever the Kartripakkha decide to lease or sell any land acquired by them under this Act from any person, they-
(a) shall give notice by advertisement in local newspapers, and
(b) shall offer to the said person, or his heirs, executors or administrators, a prior right to take on lease or to purchase such land, at a rate to be fixed by the Kartripakkha, if the Kartripakkha considers that such a right can be given without detriment to the carrying out of the purposes of this Act.
(3) If in any case two or more persons claim to exercise a right offered under clause (b) of sub-section (2) to take on lease or to purchase any land, the right shall be exercisable by the person who agrees to pay the highest sum for the land, not being less than the rate fixed by the Kartripakkha under that clause, to the exclusion of the others.