s 25 Powers of Commission as to property
(1) For the purposes of this Act the Commission may, subject to subsection (2), acquire and hold movable and immovable property; and may, subject to subsection (3) lease, sell, mortgage, exchange, or otherwise convey any movable or immovable property hereinafter directed to be vested in it, or which otherwise becomes vested in or acquired by it. (2) No immovable property shall be acquired by the Commission without the written sanction of the Minister. (3) No sale, mortgage or exchange of immovable property, and no lease of any such property for a term exceeding three years shall be valid unless the sale, mortgage, exchange or lease has been made with the written sanction of the Minister. (3A) The Commission may dispose of any capital asset or any asset kept in the store which is no longer required by the Commission. (4) The Commission may, for such rents or other payments, and periods, and subject to such covenants, conditions and restrictions as it thinks proper lease, or grant licences, under the hand of the Chairman, to occupy or use any part of the foreshore which is vested in it under the powers contained in this Act. (5) No lease or licence granted under the last preceding subsection for a period exceeding twelve months shall be valid unless the same has been made with the written sanction of the Minister. (6) The powers granted by subsections (4) and (5) shall not be so exercised as to cause any obstruction to navigation without the written sanction of the Minister being first obtained.