3. Power to acquire and dispose of property

The Corporation may acquire, purchase, take, hold and enjoy movable and immovable property of every description, and may sell, convey, assign, exchange, surrender, yield up, mortgage, demise, re-assign, transfer, or otherwise dispose of any movable or immovable property vested in the Corporation upon such terms as to the Corporation seem fit.

The Corporation may sue and be sued in respect of such property in any of the Courts of the Colony of Singapore.