The Commission may, if in its opinion it is expedient to assist its officers to acquire housing accommodation, whether within or outside New Zealand, take on lease, rent, or purchase land on which houses are erected, or purchase land and erect houses, or take on lease or rent furnished houses or flats, or make advances, on such terms and conditions as it thinks fit, to its officers for the purpose of enabling those officers to purchase for their own use land on which houses are erected.

Where, pursuant to subsection (1) of this section, the Commission takes on lease, rents, or purchases land on which a house is erected, or erects a house on any land which it has purchased, or takes on lease or rents any furnished house or flat, it may let that house or that furnished house or flat, as the case may be, or, if the house is unfurnished and is situated elsewere than in New Zealand, furnish and let the house, to any officer of the Commission for such term and at such rent and otherwise upon such terms and conditions as it thinks fit.”