Section 47

Section 47 of the Faridabad Metropolitan Development Authority Act, 2018 (9 of 2019). As soon as may be practicable and within a period of three months on the commencement of this Act, the State Government shall, on the recommendations of the Managing Director of the Haryana State Industrial and Infrastructure Development Corporation Limited and the Chief Executive Officer of the Aut

(1) As soon as may be practicable and within a period of three months on the commencement of this Act, the State Government shall, on the recommendations of the Managing Director of the Haryana State Industrial and Infrastructure Development Corporation Limited and the Chief Executive Officer of the Authority and by notification, publish a transfer scheme providing for the transfer of property, interest in property, rights and liabilities to the Authority in the manner hereinafter provided.

(2) Where there is a difference of opinion between the Managing Director of Haryana State Industrial and Infrastructure Development Corporation Limited and the Chief Executive Officer of the Authority, the State Government shall take such decision as it deems fit and such decision shall be final and binding upon the Haryana State Industrial and Infrastructure Development Corporation Limited and the Authority.

(3) Any property, interest in property, rights and liabilities vested in the Haryana State Industrial and Infrastructure Development Corporation in so far as it pertains to any of the powers exercisable or functions dischargeable by the Authority under this Act, shall be re-vested by the State Government in the Authority in accordance with the transfer scheme so published, on such terms and conditions, as may be approved by the State Government.

(4) Notwithstanding anything contained in this section, where,- (a) the transfer scheme involves the transfer of any property or rights from any person or undertaking not wholly owned by the Haryana State Industrial and Infrastructure Development Corporation Limited, the scheme shall give effect to the transfer only for fair value to be paid by the Authority to the Haryana State Industrial and Infrastructure Development Corporation Limited;

(b) a transaction of any description is effected in pursuance of a transfer scheme, it shall be binding on all persons including third parties and even if such persons or third parties have not consented to it.

(5) A transfer scheme under this section may- (a) define the property, interest in property, rights and liabilities to be transferred - Transfer of property of Haryana State Industrial and Infrastructure Development Corporation in Authority.

(i) by specifying or describing the property, interest in property, rights and liabilities in question; or (ii) by referring to all the property, interest in property, rights and liabilities comprised in a described part of the transferor's undertaking; or (iii) partly in one way and partly in the other;

(b) provide that any rights or liabilities stipulated or described in the scheme shall be enforceable by or against the transferor or the transferee;

(c) impose on the transferor an obligation to enter into such written agreements with or execute such other instruments in favour of any other subsequent transferee, as may be stipulated in the scheme;

(d) provide for the transfer of digital records;

(e) mention the functions and duties of the transferee;

(f) make such supplemental, incidental and consequential provisions as the transferor considers appropriate including provision stipulating the order as taking effect; and (g) provide that the transfer shall be provisional for a stipulated period.

(6) All debts and obligations incurred, all contracts entered into and all matters and things engaged to be done by, with or for the Haryana State Industrial and Infrastructure Development Corporation, before a transfer scheme becomes effective shall, to the extent specified in the relevant transfer scheme, be deemed to have been incurred, entered into or done by the Authority, with the Authority and all suits or other legal proceedings instituted by or against the Haryana State Industrial and Infrastructure Development Corporation, may be continued or instituted by or against Authority.

(7) The Haryana State Industrial and Infrastructure Development Corporation shall cease to be charged with and shall not perform the functions and duties with regard to transfers made on and after the date of publication of the scheme. Review of performance of Authority.

Section 47, The Faridabad Metropolitan Development Authority Act, 2018 (9 of 2019) (Act 9 of 2019).