Subject to the provisions of Rule 29 and such conditions, as may, from time to time, be laid down by the Corporation, the Director General may, for the purposes of this Act, acquire on behalf of the Corporation moveable or immovable property:
Provided that sanction of the Standing Committee shall be required for the exchange of any immovable property, for taking of any property on lease for a term exceeding twelve months, or for the acceptance of any gift or bequest of property burdened by an obligation.
