16. Powers of the Authority to enter into any agreement

The Authority shall have the power to enter into any agreement with any government department, local authority, public corporation, or any other institution, whether private or public including joint venture companies, for the purpose of enabling the efficient exercise, performance and discharge of the powers, duties and functions of the Authority.

Every such agreement shall be in writing and shall upon registration with the Authority constitute a valid and binding contract as between such government department, local authority, public corporation and any other institutions whether private or public including joint venture companies.