53.— (1) An education and training board shall provide such information to the Minister in respect of any acquisition, holding or disposal of land, or an interest in land, by the board as the Minister may specify from time to time.

(2) The Minister may give a direction to an education and training board to acquire, hold or dispose of land, or an interest in land, where he or she considers it necessary having regard to the interests of the local community within the functional area of the board and the public interest in ensuring value for money.

(3) The Minister shall, by notice in writing, inform an education and training board where he or she proposes to give a direction under subsection (2) and state the terms of the proposed direction.

(4) An education and training board may make representations in writing to the Minister in relation to the proposed direction not later than 14 days from the date of service of a notice under subsection (3).

(5) The Minister shall consider any representations made under subsection (4) prior to giving a direction under subsection (2).

(6) An education and training board shall comply with a direction given to that board under this section.

(7) All moneys received by an education and training board on the sale or other disposal of land or any interest in land may be recovered by the Minister and where not recovered by the Minister shall be applied towards such purposes as the Minister determines.

(8) The Minister may make regulations in relation to the acquisition, holding or disposal of land or an interest in land by education and training boards.

(9) Without prejudice to the generality of subsection (8), regulations made under that subsection may—

(a) require an education and training board to manage, maintain or develop land or an interest in land, including the project management of such development,

(b) require an education and training board to obtain an independent valuation of any land or interest in land in respect of a proposed acquisition or disposal of such land,

(c) require an education and training board to set a reserve price in respect of a proposed disposal of land having regard to any independent valuation obtained,

(d) specify the method by which land or an interest in land held by an education and training board shall be advertised, offered for sale or otherwise disposed of,

(e) require an education and training board to ensure that costs, including professional fees, incurred in relation to the acquisition, holding or disposal of land or an interest in land are minimised,

(f) specify the maximum term of a lease or licence which may be entered into by an education and training board which shall not require the consent of the Minister,

(g) specify a maximum value for any transaction in relation to the acquisition or disposal of land, or an interest in land, which may be entered into by an education and training board above which the consent of the Minister shall be required, and

(h) require an education and training board to keep such records as may be specified in respect of any acquisition, holding or disposal of land or an interest in land.