Power of dealing with land acquired or appropriated for provision of housing accommodation.

(1) Where the Commissioner has acquired or appropriated any land for the purposes of section 284J then, without prejudice to any of his other powers under this Act, he may (a) lay out and construct public streets or roads and open spaces on the land; (b) with the appproval of the Standing Committee, sell or lease the land or part thereof to any person for the purpose and under the condition that person will erect and maintain thereon such number of buildings suitable for the poorer classes as may be fixed by the Commissioner in accordance with plans approved by him and, when necessary, will lay out and construct public streets or roads and open spaces on the land, or will use the land for purposes which in the opinion of the Commissioner are necessary or desirable, for, or incidental to, the development of the land in accordance with plans approved by the Commissioner including the provision, maintenance and improvement of houses and gardens, places of recreation and other works or buildings for, or for the convenience of, persons belonging to poorer classes ; (c) with the approval of the Standing Committee, sell the land or part thereof or if such land is not abutting on any public street, exchange the land or part thereof for land better adapted for those purposes, either with or without paying or receiving any money for equality of exchange; (d) with the approval of the Standing Committee, sell or lease any buildings on the land or erected by him on the land, subject to such covenants and conditions as he may think fit to impose either in regard to the maintenance of the buildings as dwellings for the poorer classes or otherwise in regard to the use of the buildings, and upon any such sale he may, if he thinks fit , agree to the price being paid by instalments togather with interest on the outstanding balance at such rate as may from time to time be prescribed by the Standing Committee in this behalf, or to a payment or part thereof being secured by a mortgage of the premises, (2) Where the Commissioner acquires any building which can be made suitable as a building for the poorer classes or an estate or interest in such a building, he shall forthwith proceed to secure the alterations, enlargement, repair or improvement of the building, either by himself executing any necessary works, or by leasing or selling it to some person subject to conditions for securing that he will alter, enlarge, repair or improve it.