Power of the Board to undertake housing, improvement or building schemes and incur expenditure

(1) Subject to the provisions of this Act, the Board may, from time to time, incur expenditure and undertake works for the framing and execution of such housing, improvement or building schemes as it may consider necessary. (2) The Government may, on such terms and conditions as it may think fit to impose,transfer to the Board the execution of any housing, improvement or building scheme not provided for by this Act, and the Board shall thereupon undertake the execution of such scheme as if it had been provided for in this Act. (3) The Board may, on such terms and conditions as may be agreed upon and with the previous approval of the Government, take over for execution any housing, improvement or building scheme on behalf of a local authority or a co-operative society and the Board shall execute such scheme as if it had been provided for in this Act.