(1) The appropriate authority shall be competent to make any agreement with any person in respect of_any matter which is to be provided for in a land pooling scheme, subject to the power of the State Government to modify or disallow such agreement and unless it is otherwise expressly provided therein, such agreement shall take effect on and after the day on which the land pooling scheme comes into force.
(2) Such agreement shall not in any way affect the duties of the Land Pooling Officer .as described in Chapter 4 or the rights of third parties but it shall be binding on the parties to the agreement notwithstanding any decision that may be passed by the Land Pooling Officer:
Provided that if the agreement is modified by the State Government, either party shall have the option of avoiding it, if it so elects.