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Amendment of section 15 (provisions with respect to sale, leasing and acquisition of land) of Principal Act.
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6.— Section 15 of the Principal Act is amended—
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(a) by substituting the following for subsection (2):
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“(2) Subject to subsection (4)(a), the consideration for which any land is sold by a company shall, in so far as is practicable, not be less than its open market value.”,
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and
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(b) in subsection (4) by substituting the following for paragraph (a):
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“(a) In making any decision as to—
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(i) the acquisition of land or the consideration to be paid for such acquisition, or
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(ii) the disposal of any land or the consideration to be accepted,
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a company shall have regard to any Government policy or guidelines in relation to the acquisition of land or the disposal of land, as appropriate, by State enterprises which is or are for the time being extant.”.
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