(1) It shall be lawful for the municipal council to lay out and make new public streets, and to construct tunnels and other works subsidiary to the same, and to widen, open, enlarge, or otherwise improve any such streets, and to turn, divert, discontinue, or close any such streets, and subject to the provisions of sub-sections (1), (2) and (3) of section 72 to lease or sell any such land theretofore used oracquired by the municipal council for the purposes of such streets, as may not be required for any public street or for any other purpose of this Act:

Provided that no public street vesting in the municipal council shall be diverted, discontinued or closed before the municipal council publishes its intention of doing so and calls for objections and obtains the approval of the Government or such other officer as may be authorised by Government to whom a copy of the resolution of the council and the objections thereto shall be forwarded.

(2) In laying out or making or in turning, diverting, widening, opening, enlarging, or otherwise improving any public street, in addition to the land required for the carriage way and foot way and drains thereof, the municipal council may purchase the land necessary for the houses and buildings to form the said street, and subject to the provision contained in sub-sections (1), (2) and (3) of section 72 may sell such additional land or lease for a term of years, with such stipulations as to the class and description of houses or buildings to be erected thereon as it may deem fit.