Power of the Board to undertake housing, development and improvement schemes and incur expenditure.

(1) Subject to the provisions of this Act, the Board may, from time to time, incur expenditure and undertake works for the framing and execution of such housing, development and improvement schemes as it may consider necessary. (2) The State Government may, on such terms and conditions as it may think fit to impose, entrust to the Board the execution or framing and execution of any housing scheme whether provided for by this Act or not, and the Board shall thereupon undertake the execution or the framing and execution of such schemes as if they had been provided for by this Act. (3) The Board may, on such terms and conditions, as may be agreed upon and with the previous approval of the State Government take over for execution any housing scheme on behalf of a local authority or co-operative society or on behalf of an employer when the houses are to be built mainly for the residence of its or his employees, and the Board shall execute such schemes as if it had been provided for by this Act.