Undertaking of Project by Municipality Or by Other Agency.

Notwithstanding anything contained elsewhere in this Act but subject to the provisions of any State law relating to planning, development, operation, maintenance and management of municipal infrastructure and services, a Municipality may, in the discharge of its functions specified in section 45 section 46, and section 47, - (a) promote the undertaking of any project for supply of urban infrastructure or services by participation of a company, firm, society, trust or any body corporate or any institution, or government agency or any agency under any other law for the time being in force, in financing, construction, maintenance and operation of such project of a Municipality irrespective of its cost, (b) consider and approve the undertaking of any project relating to urban infrastructure or services by a company, or firm, or society, or body corporate in terms of a private sector participation agreement or jointly with any such agency, and (c) consider and approve the undertaking of any project relating to urban infrastructure or services by any institution, or government agency or any agency under any other law for the time being in force, or jointly with any such agency.