(1) Where any land in any selected area remains vacant, the President may grant land in such area to any person, subject to such conditions as he may think fit, including the payment of rent, but the provisions of section 3 shall not apply to such grants.

(2) Grants made under subsection (1) of this section shall be made in accordance with the appropriate provisions of the Administration of Lands Act, 1962 (Act 123) and the State Lands Act, 1962 (Act 125) and any statutory instruments made thereunder.