(1) The University may-

(a) acquire property by purchase;

(b) hold and manage movable and immovable property;

(c) sell, lease and mortgage property;

(d) enter into any other transaction which is necessary or expedient for the furtherance of its aims.

(2) The University may borrow money upon the security of its property or assets for the purpose of carrying out its duties as defined in this Law and the statutes of the University.

(3) Where the Council has resolved that it is necessary or expedient to acquire any property under sub-section (1) the property may be treated as property required for the public interest and the State Lands Act, 1962 (Act 125) shall apply with such modifications as are necessary to provide for vesting of the property acquired in the University and for the cost of acquisition to be defrayed by the University

(4) The halls and hostels for students, lecture halls, libraries, hospitals, staff quarters, bungalows, guest houses, recreation grounds, farms and all other tenements of the University shall be exempted from all assessments and rates made and levied by a local authority.

(5) The University shall be exempted from the payment of such other taxes and duties as the Secretary responsible for Finance may with the prior approval of the PNDC direct.