Amendment status not verified — confirm the current text below against the official source.
(1) The 1 [Corporation] shall, for the purposes of this Act, have power to acquire, hold and dispose of property or any interest therein whether within or without the limits of the City. (2) All property and interests in property acquired by the 1 [Corporation] shall vest in the 1Corporation for the purposes of this Act and subject to its provisions. (3) Any immovable property which may be transferred to the 1Corporation by the Government shall be held by it, subject to such conditions including resumption by the Government on the occurrence of a specified contingency and shall be applied to such purposes as the Government may impose or specify while making the transfer.