Any public or private corporation authorized by this chapter to make application for the privilege of establishing, operating, and maintaining a foreign trade zone, whose application is granted pursuant to the terms of the act of congress referred to in § 42-26.1-2 is authorized to establish a foreign trade zone and to operate and maintain it, subject to the conditions and restrictions of the act of congress, and any amendments thereto, and under such rules and regulations and for the period of time that may be prescribed by the board established by the act of congress to carry out the provisions of the act.