4.-(1) If at any time after the Board of Management has assumed the management and control of the School, the Governor, on the advice of the Board of Management, considers it no longer necessary for the School to continue to function as a school, the Governor may, by writing under his hand, direct that the School be closed, and thereupon it shall be closed.
(2) Upon the closing of the School as in subsection (1) provided the Governor may, by writing under his hand, direct that the movable property of the School existing on the date of the closing and taken over as in section 3 provided be returned to Government and that all other movable property subsequently acquired and existing on that date be utilised for such purpose being for the benefit of the youth of Cyprus as the Governor may determine, or be sold and the proceeds thereof be applied to such purpose aforesaid and in such manner as the Governor may determine.