Transfer to Board for purpose of housing scheme of land vested in a local authority

(1) Whenever any street, square or other land, or any part thereof, situated in any area of a local authority and vested in the local authority, is required for the purpose of any housing scheme sanctioned by the Administrator, the Board shall give notice accordingly to the local authority. (2) Where the local authority concurs, such street, square or other land, or part thereof, shall vest in the Board. (3) Where there is any dispute the matter shall be referred to the Administrator. The Administrator shall, after hearing the parties, decide the matter. The decision of the Administrator shall be final. If the Administrator decides that such street, square or land shall vest in the Board, it shall vest accordingly. (4) Nothing in this section shall affect the rights or powers of the local authority in or over any drain or water works in such street, square or land.