Section 22AP. Power of Government to exclude Industrial Estate from the Jurisdiction of Corporation.

(1) Where the Government is satisfied that in respect of any particular industrial estate, commercial centre or industrial area, or any part thereof, the purpose for which the Corporation was established under this Chapter has been substantially achieved so as to render the continued existence of such estate, centre or area or part thereof under the Corporation unnecessary, the Government may, by notification in the Government Gazette, declare that or such industrial estate, commercial centre or industrial area or part thereof has been removed from the jurisdiction of the Corporation. Thereupon the Government may after consulting the Corporation pass such orders in respect of consequential financial arrangements with the Corporation, and the transfer or apportionment of any assets and liabilities of the Corporation as it may deem fit. (2) The Government may also make such other incidental arrangements for the administration of such estate, centre or area or part thereof as the Government thinks fit.