(1)Where—
(a)a local authority or joint planning board acquire any building or other land under section 47(1) or 52(1)(a) or (b); or
(b)the Commission acquire any building or other land under section 47(1),
they may make such arrangements as to its management, use or disposal as they consider appropriate for the purpose of its preservation.
(2)Where the Secretary of State acquires any building or other land under section 47(1), he may—
(a)make such arrangements as he thinks fit as to the management, custody or use of the building or land; and
(b)dispose of or otherwise deal with any such building or land as he may from time to time determine.
(3)The Commission may be a party to such arrangements as are mentioned in subsection (2) if they relate to property situated in England.