National Development Finance Agency Act, 2002

Transfer of property of State authority.

9.—(1) Subject to subsections (2) and (3) a State authority may, whether or not for consideration, transfer, convey or assign its interest in any real or personal property (including leaseholds) owned or held by such State authority to a company formed under section 5 for the purpose of enabling such a company to carry out its financing functions in connection with public investment projects.

(2) A State authority shall not convey, assign or transfer any such property to any such company unless the consent of the Minister and the appropriate Minister has been obtained.

(3) A State authority may attach such terms and conditions as it considers appropriate to any transfer, conveyance or assignment pursuant to subsection (1).