Section 3 — Declaration of Special Investment Region

(1) The State Government may, by notification in the Official Gazette, declare any area of land, including an industrial area, to be a Special Investment Region and specify the geographical area thereof.

(2) An area declared as a Special Investment Region may be known by the name of its location and/or its predominant economic activity.

(3) Every notification issued under sub-section (1) shall be laid before the State Legislature as soon as may be after it is issued.