(1) Notwithstanding anything to the contrary in any Act, the corporation as committee of management of the reserve may from time to time grant leases of the whole or any part of the land delineated and shown hatched on the plan in the Schedule for the purpose of operating a miniature railway and amenities connected therewith.
(2) A lease granted under this section—
(a) shall be subject to such covenants conditions exceptions and reservations as the corporation thinks fit;
(b) shall be for a term not exceeding 21 years; and
(c) shall be subject to approval by the Governor in Council.
(3) The moneys received by way of rent under any lease granted under this section shall be applied by the corporation towards the maintenance and improvement of any part of the reserve not leased under this section or for any other purpose approved by the Minister.