Section 8. Preparation of Master Plan.

(1) The Authority shall, as soon as may be prepare a master plan for the special development area for which it has been constituted; (2) The Master plan shall- (i) define the various sectors into which such area may for the purposes of development and indicate the which the land in each sector is proposed to be used and the stages by which any development shall be carried out; (ii) serve as a basic pattern of frame-work, within which the development plans for various sectors may be prepared; (3) The master plan may provide for any other matte necessary for the proper development of such area.