Power to acquire, hold or alienate property

The Board shall, for the purposes of this Act, have power to acquire and hold immovable or movable property or any interest therein, whether within or without the limits of the port, and also the power to lease or sell any immovable or movable property which may have been vested in or acquired by it: Provided that no acquisition of immovable property or sale or lease for a term exceeding ten years of any immovable projjerty shall be valid uniess the sanction of Government to such acquisition, sale or lease has been hst obtained.