Power of Board to dispose of property

Power of Board to dispose of property.—

1. (1) Subject to the provisions of this Act, the Board may acquire, hold and dispose of any property, whether moveable or immoveable, and may contract and do all other things necessary for the purposes of this Act: Provided that in the case of any immovable property, the disposal of which requires the approval of the State Government, the Board shall obtain such approval.
2. (2) The Board may, with the previous approval of the State Government, lease, sell or otherwise convey any property held by it on such conditions as it may think fit.