(1)Subsection (4) of section twenty-four of the principal Act (which relates to the compulsory acquisition of land by local authorities and statutory water undertakers) and the Acquisition of Land (Authorisation Procedure) Act, 1946, in its application to the acquisition of land under the said subsection (4), shall have effect as if references therein to a local authority included references to a development corporation established under section two of the [9 & 10 Geo. 6. c. 68.] New Towns Act, 1946.
(2)Notwithstanding anything in paragraph (c) of subsection (1) of section twenty-three of the principal Act, a development corporation established as aforesaid shall not be authorised by means of an order under the principal Act to raise capital or borrow money for any purpose.