4.—(1) The Commissioners may—
(a)retain any land acquired by them for such time as they think fit; and
(b)dispose of any land acquired by them which is no longer required for the purposes of their functions in such manner and for such consideration and on such terms and conditions as they think fit.
(2) The powers of the Commissioners under the sub-paragraph (1)(b) shall be exercisable in accordance with arrangements made by the Department.
(3) The Commissioners may for the purposes of the harbour undertaking manage, use or develop land belonging to them as they think fit.
(4) Any capital money received by the Commissioners in respect of any transaction under this Article shall be applied in or towards the repayment of monies borrowed by the Commissioners or for other purposes of the Commissioners for which capital money may properly be applied.