Correct Answer:
B. Acquire and dispose of property
The correct answer is Acquire and dispose of property.
- For any statutory authority to operate effectively, it must have the legal capacity to manage its physical assets, including acquiring offices, equipment, and other necessary resources, and disposing of them when no longer needed. This power is fundamental for operational autonomy.
- Amend the Constitution is a power reserved for legislative bodies, often requiring special procedures, and is not within an authority's remit.
- Overrule the High Court is a judicial power and is not held by any administrative authority.
- Appoint the Chief Minister is a political and constitutional power, typically exercised by a head of state or governor.
Therefore, the power to manage property is essential for the Authority's day-to-day functioning.