(1) The Board may, for the purposes of or in connection with the carrying on of the undertaking, lease or grant the use or occupation of, or any right or interest in or over, any lands, works, buildings, machinery, equipment or other property forming part of the harbour for such period, at such rents and other considerations and on such terms and conditions as they think fit.
(2) The Board may also dispose of, or grant the use or occupation for any purpose of, any lands, works, buildings, machinery, equipment or other property vested in them if they consider that—
(a) the property is surplus to that which is required for the purpose of the harbour; or
(b) it would conduce to the improvement, maintenance or management of the harbour in an efficient and economical manner for the property to be held by a person other than the Board,
for such consideration and on such terms and conditions as they think fit.
(3) Nothing in this article shall affect the provisions of section 33 of the 1954 Act (power to dispose of land).