The Ordinance, which has been promulgated by amending and adding Section 10 to the Punjab Act of 1912, envisages as follows:
Section 10-A (1): No land shall be disposed of except by government in accordance with the provisions of this Act, to an autonomous body, authority, company, a person or a group of persons.
(2) Save as otherwise provided under this Act or rules:
(a) No land for agricultural purposes shall be disposed of except under the statement of conditions issued under sub-section (2) of Section 10 of the Act;
(b) No land for commercial purpose shall be disposed of except by open auction at a price, not less than the market price;
(c) No land exceeding 120 square yards under incremental housing shall be disposed of at a price not less than 25 percent of the market price;
(d) Residential land exceeding one 120 square yards shall be disposed of at a price not less than 50 percent of the market price;
(e) No land for industrial purpose shall be disposed of at a price not less than 25 percent of the market price;
(f) No residential cum commercial land shall be disposed of at a price not less than 75 percent of the market price;
(g) No amenity plot shall be disposed of at a price not less than 50 percent of the market price.
(3) All grantees of land shall pay ground rent as determined by government in addition to the occupancy value.
10-B: (1) Government shall determine the market price for different areas of different land use from time to time to be notified in official gazette.
(2) No land shall be alienated by gift, sale or mortgage with possession, even through special or general power of attorney until the completion of the project.
(3) Government may in its discretion recover the occupancy value or the price of the land granted in equal annual instalments along with mark up on unpaid instalments, on such terms and conditions as it may determine;
10-C: Notwithstanding any thing to the contrary contained in this Act, an existing lease granted under statement of conditions under Section 10 (2) of the said Act for agriculture, poultry, fish farming, animal husbandry purposes shall continue on the same terms and conditions until its expiry;
Provided such leases may be extended for 99 years even before the expiry of the lease on payment of occupancy value at the market rate.
10-D: In case of non-utilisation of the land or non-completion of the project within two years, from the date of grant, it shall be forfeited to government without notice and without payment of any compensation for any structure raised, provided the completion period of the project may be extended for another one year by the government, on payment of non-utilisation fee of ten percent of the occupancy value.
10-E: Land granted for amenity purpose shall not be utilised for any purpose other than the purpose for which it was granted.
10-F: Except the land granted for amenity purpose, government may change the land use for the land granted for agriculture, residential, residential-cum-commercial and industrial purpose after completion of three years from the date of grant on payment of differential price and on such terms and conditions as it may determine.
The government would make and notify the rules for carrying out the Ordinance.