Powers and duties of Board to undertake housing scheme.

(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 schemes in relation to lands and buildings vested in or in the possession of the State Government. (2) The State Government may, on such terms and conditions as it may think fit to impose, entrust to the Board the framing and execution of any housing scheme and the Board shall thereupon undertake the framing and execution of such scheme. (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, for building house property mainly for the residence of the employees of such local authority, co-operative society or employer or for the residence of the members of such co-operative society, as the case may be.