Power to make contracts

(1) The Board may enter into and perform all such contracts as it may consider necessary or expedient for carrying out any of the purposes of this Act. (2) Every contract shall be made on behalf of the Board by the Secretary. (3) Every such contract shall, subject to the provisions of this section, be entered into in such manner and form as may be prescribed. (4) Any contract not executed in the manner provided in this section and the rules made thereunder shall not be binding on the Board.