(1) Where land in a special development area has been vested in Invest Saint Lucia under section 26, Invest Saint Lucia shall supervise and coordinate the development of such land, in accordance with its function under section 5, and may for that purpose —
(a) enter into a contract or arrangement with a development company, Constituency Council or other body; or
(b) dispose of such lands to local or foreign investors in such manner and subject to such covenants and conditions as Invest Saint Lucia considers necessary.
(2) Subject to Cabinet approval and in exercise of its role under subsection (1) Invest Saint Lucia has the power to provide, in any contract or arrangements entered into between itself and a development company, Constituency Council or other body, for —
(a) the maintenance of electricity, telephone, water, sewerage, communication and other service of any nature in the special development area;
(b) the carrying out of site and other development works and building and other operations in the special development area;
(c) the establishment of industrial enterprises in the special development area.
(3) In exercise of its powers under subsection (1) Invest Saint Lucia shall consult with the Minister and shall be guided by any policy or general directions the Minister may issue and Invest Saint Lucia shall not, without prior written approval of the Minister dispose absolutely of any land or grant a lease of any land for a term exceeding 25 years.
(4) In this section “disposal of land” means disposal by way of sale, exchange, lease or by the creation of any servitude, right or privilege.