- In respect of the contracts by the Board for the purposes of this Act, the following provisions shall have effect, namely:-(a)Every contract shall be made on behalf of the Board by the Chief Executive officer or an officer authorized by the Board. No contract in respect of leasing of water front, jetty, waterway and corresponding infrastructure facilities thereof for a term exceeding five years shall be made unless it is previously approved by the Government on such terms and conditions as it may deem fit;(b)No contract for acquisition or sale of immovable property or for the lease of any such property for a term exceeding five years shall be made unless it is previously approved by the Government(c)The form and manner of executing contracts on behalf of the Board shall be such as may be prescribed by rules;Chapter-V Works and Services to be Provided at Ports by the Board
