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(1)Schedule 19 makes provision for the transfer to the Authority of other property, rights and liabilities of the Board.
(2)Any property, rights and liabilities which are transferred to the Authority by virtue of Schedule 19 but are not required by the Authority for the discharge of any of its other functions shall be disposed of or otherwise dealt with by the Authority—
(a)in accordance with directions given to it by the Secretary of State, and
(b)subject to that, in the way which appears to the Authority most economic and efficient.
(3)For the purposes of subsection (2) (and subject to directions given to it by the Secretary of State), the Authority may (in particular)—
(a)retain and manage property,
(b)develop land with a view to disposing of it, and
(c)acquire land for the purpose of developing it with the land which it adjoins.
(4)Section 207 does not apply to the functions in subsections (2) and (3).
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