(1) The Board may purchase or otherwise acquire and hold and may take on lease any moveable property acquired for the purposes of this Act, and may dispose of any such moveable property.
(2) The Board may purchase or otherwise acquire and hold and may take on lease any immoveable property and any interest therein required for the purposes of this Act.
(3) The Board may, with the consent of the Governor General sell and alienate any immoveable property or interest therein vested in the Board and lease any such property or interest for any term, and may, without such consent, lease any immoveable property or interest therein for any term not exceeding 10 years provided the full rental value in respect of the same be reserved year by year on such lease, and no premium be payable in respect thereof.