(1)The Authority—
(a)shall have power to acquire by agreement, or
(b)on being authorised to do so by the Secretary of State shall have power to acquire compulsorily,
any land which, in the Authority's opinion, is suitable for development.
(2)Where the Authority exercises or has exercised its powers under subsection (1) above in relation to any land, it shall have power to acquire by agreement or on being authorised to do so by the Secretary of State shall have power to acquire compulsorily—
(a)any land adjoining that land which is required for the purpose of executing works for facilitating its development or use;
(b)where that land forms part of a common or open space or fuel or field garden allotment, any land which is required for the purpose of being given in exchange therefor;
(c)new rights over land (that is, rights not previously in existence) required for the purpose of exercising the Authority's functions.
(3)The 1946 Act shall apply in relation to the compulsory acquisition of land in pursuance of this section as if—
(a)this section were contained in an Act in force immediately before the commencement of that Act;
(b)the Authority were a local authority.
(4)Schedule 20 below, in which—
(a)Part I modifies the 1946 Act as applied by subsection (3) above,
(b)Part II deals with the acquisition of land by agreement, and
(c)Part III contains supplemental provisions as respects land acquired under this section,
shall have effect.