Section 3: Power of the Authority

(1) Subject to subsection (2) of this section, the Authority shall have power to do anything which in its opinion is calculated to facilitate the carrying on of its activities, including without prejudice to the generality of the foregoing the power to-
(a) sue and be sued in its corporate name;
(b) hold and manage movable and immovable property; and
(c) enter into contracts.
(2) Except with the general or special approval of the Minister the Authority shall not have power to borrow money or dispose of any property (including land vested in the Authority pursuant to section 9 of this Act).