12. Centre may hold property movable and immovable

Subject to the provisions of this Act, the Centre shall be able and capable in law to acquire and hold any property, both movable and immovable, which may become vested in it by virtue of any purchase, grant, lease, gift, testamentary disposition or otherwise and all such property shall be held by the Centre for the purposes of this Act and subject to the rules made under section 10, with power to sell, mortgage, lease, exchange, or otherwise dispose of the same.