PART IIIOBJECT AND POWERS OF THE CORPORATION
Object and general powers of the Corporation
Object and general powers of the Corporation10
1
The object of the Corporation shall be to secure the regeneration of the designated area.
2
The object is to be achieved in particular by the following means—
a
by bringing land and buildings into effective use;
b
by encouraging public and private investment and the development of existing and new industry and commerce;
c
by creating an attractive environment; and
d
by ensuring that housing, social, recreational and cultural facilities are available to encourage people to live and work in the area.
3
Subject to Article 11, for the purpose of achieving the object the Corporation may—
a
acquire, hold, manage, reclaim and dispose of land and other property;
b
carry out building and other operations;
c
carry on any business or undertaking for the purposes of the object; and
d
generally do anything necessary or expedient for the purposes of the object or for purposes incidental to those purposes.
4
No provision of this Order by virtue of which any power is exercisable by the Corporation shall be construed as limiting the effect of paragraph (3).
5
Paragraph (3) relates only to the capacity of the Corporation as a statutory corporation; and nothing in this Article authorises the Corporation to disregard any statutory provision or rule of law.
6
A transaction between a person and the Corporation shall not be invalidated by reason of any failure by the Corporation to observe the object in paragraph (1) or the requirement in paragraph (3) that the Corporation shall exercise the powers conferred by that paragraph for the purpose of achieving that object.