Article 8 Powers to grant tenancies and to dispose of land
The Authority may, for the purposes of or in connection with the carrying on of the port undertaking, lease or grant the use or occupation of, or any right or interest in or over, any lands, works, buildings, machinery, equipment or other property forming part of the port undertaking, in such manner, for such period, at such rents and other considerations and on such terms and conditions as it thinks fit.
A lease or grant made or given under paragraph (1) may include provisions delegating to the lessee or grantee any of the port functions of the Authority other than those specified in sub-paragraphs (a) to (f) of paragraph 9B of Schedule 2 to the 1964 Act.
The Authority may also dispose of any lands, works, buildings, machinery, equipment or other property vested in it if it considers that—
the property is surplus to that which is required for the purpose of the port undertaking, or
it is conducive to the improvement, maintenance, operation or management of the port undertaking in an efficient and economical manner for the property to be held by a person other than the Authority,
in such manner, for such consideration and on such terms and conditions as it thinks fit.