20.—(1) A local authority may use any derelict site acquired by them under this Act, the Derelict Sites Act, 1961, or the Acquisition of Derelict Sites Act, 1940, for any purpose connected with their functions.

(2) Where the whole or any part of any derelict site acquired under this Act, the Derelict Sites Act, 1961, or the Acquisition of Derelict Sites Act, 1940, is at any time not required by the local authority by whom it was acquired, the local authority may, subject to any regulations made under this Act, sell, let, transfer or exchange the whole or that part (as the case may be) of the derelict site.