Section 12: Acquisition of land.

(1) Where it is made to appear to the President by the Corporation that any land is required for the purposes of the functions of the Corporation under this Act but it is impossible for the Corporation to acquire such land upon fair and reasonable terms by private treaty or agreement, the President may by order direct that proceedings be taken under the Lands Use Act for the acquisition of such land on behalf of the Government and for determining the compensation to be paid to the parties interested; and, upon the making of such order, the land to which it relates shall be deemed to be land required for a public purpose within the meaning of the said Act.
(2) Where land has been acquired under the provisions of subsection (1) of this section, the President shall, upon payment to the Government by the Corporation of the moneys due under the provisions of subsection (3) of this section, vest such land in the Corporation by means of a certificate under the hand and seal of the Chief Federal Land Officer to the effect that the same has been made over to the Corporation, and such certificate shall confer on the Corporation the estate or interest referred to therein against all persons, free from all adverse or competing rights, titles, interests, trusts, claims and demands whatsoever.
(3) The compensation for such acquisition shall in the first instance be paid by the Government; but the Corporation shall refund to the Government any compensation so paid and all expenses incidental to such acquisition incurred by the Government.
(4) The Corporation shall not alienate, demise, mortgage or charge any land vested in the Corporation under the provisions of this section without the prior approval of the Minister.