(1) When any land within the market area is required for the purposes of this Act and the Board is unable to acquire the same by agreement, the Lieutenant Governor, may at the request of the Board, proceed to acquire such land under the provisions of the Land Acquisition Act, 1994(1 to 1894) and on payment, of the compensation awarded under that Act, by the Board and nay other charges incurred by the Lieutenant Governor, in connection with such acquisition the land shall vest in the Board or the Market Committee as the case may be.
Provided that once a proposal has been made by the Board, it shall not be withdrawn by it except for reasons which may be recorded by it and approved, by the Lieutenant Governor:
(2) The Board shall not, without the previous sanction of the Lieutenant Governor, transfer any land, which has been acquired for the Board or Marketing Committee under sub-section (1) or vest in it or use such land for a purpose other than the purpose for which it has been acquired, or is used as the case may be.
CHAPTER V MARKETS OF NATIONAL IMPORTANCE