(1) Notwithstanding anything contained in the Rajasthan Land Revenue Act, 1956 (Act No. 15 of 1956), the land, as defined in Section 103 of that Act, situated in a Special Investment Region, (excluding land referred to in sub-clause (ii) of clause (a) of the said section and nazul land placed at the disposal of a local authority under Section 102-A of that Act and the abadi area and the land set apart for development of abadi of a village and the municipal area and the land vested in any local authority by virtue of an Act of the State Legislature prior to the commencement of this Act) shall, immediately on constitution of the Regional Development Authority under Section 9, be deemed to have vested in and placed at the disposal of the Regional Development Authority on behalf of the State Government and the Regional Development Authority may use the same for the purposes of this Act and may dispose of the same subject to such conditions and restrictions as the State Government may, from time to time, lay down and in such manner, as it may, from time to time, prescribe by rules, -
(a) without undertaking or carrying out any development thereon; or
(b) after undertaking or carrying out such development as it thinks fit, to such person, in such manner and subject to such covenants and conditions, as it may consider proper.
(2) If the State Government is satisfied that any land vested in any local authority is required at any time by the Regional Development Authority for carrying out its functions, it may, notwithstanding anything contained in any Rajasthan Law, by notification in the Official Gazette, place such land at the disposal of the Regional Development Authority on such terms and conditions as it may deem fit:
Provided that, before taking any action under this sub-section, the State Government shall give an opportunity of hearing to the local authority concerned.
(3) If any land vested in the Regional Development Authority is required at any time by any local authority for carrying out its functions or by the State Government for any other purpose, the State Government may, by notification in the Official Gazette, place such land at the disposal of such local authority or any Department of the State Government on such terms and conditions as it may deem fit:
Provided that, before taking any action under this sub-section, the State Government shall give an opportunity of hearing to the Regional Development Authority concerned.
(4) The State Government may, for the purposes of this Act, acquire land in accordance with the provisions of the law relating to land acquisition, in force, at the time of acquisition.
(5) The State Government may transfer land owned, acquired or controlled by it to the Regional Development Authority for the purposes of this Act as per laws relating to land revenue.
(6) Where any land or any other property of the government agencies are transferred and vested in the Regional Development Authority under this Act, and compensation, if any, for such land and other property is to be paid to such government agencies, the compensation shall be such as may be decided by the State Government.