12.—(1) The Corporation may, after consultation with the Department, provide financial assistance for any body or person doing or intending to do in the designated area anything falling within paragraph (2).
(2) Financial assistance under paragraph (1) may be provided for—
(a)the promotion, development or regeneration of commercial, industrial or other economic activity;
(b)the improvement of the environment;
(c)the provision of housing;
(d)the provision of social, cultural, recreational or community facilities;
(e)the refurbishment or restructuring of buildings;
(f)any thing not falling within sub‐paragraphs ( a ) to ( e ) which the Corporation considers will benefit the designated area.
(3) Financial assistance under paragraph (1) may include—
(a)grants;
(b)loans;
(c)guarantees;
(d)the taking of any interest in property or in a body corporate.
(4) Article 4 of the Social Need (Northern Ireland) Order 1986F1 shall apply to financial assistance under this Article as it applies to financial assistance under Article 3 of that Order, but with the substitution for references to the Department of references to the Corporation.
13. The Corporation may—
(a)enter into an agreement with any person to develop any land in the designated area, whether or not the Corporation has any estate in that land; and
(b)do anything which is required in order to develop that land in accordance with such agreement.
14.—(1) Where under any statutory provision powers are conferred on a relevant body to execute any works (of whatever kind and for whatever purpose)—
(a)that body and the Corporation may enter into an agreement that the powers shall, to such extent and subject to such conditions as the agreement may specify, be exercised in the designated area by the Corporation on behalf of that body; and
(b)the Corporation shall have power to execute those works in that area and otherwise to carry any such agreement into effect.
(2) Nothing in any agreement under paragraph (1) shall authorise or empower a relevant body or the Corporation on behalf of that body to execute the works in question otherwise than in accordance with, and subject to, any statutory provision conferring, or relating to, the power to execute the works; and references to the relevant body in any such statutory provision shall for the purposes of the execution of any such works be construed as including references to the Corporation.
(3) The Corporation shall not enter an agreement under paragraph (1) with a relevant body other than a Northern Ireland Department except with the approval of the Department.
(4) The Department may enter into an agreement with the Corporation that the powers of the Corporation to execute any works under this Order shall, to such extent and subject to such conditions as the agreement may specify, be exercised by the Department on behalf of the Corporation and the Department shall have power to execute those works and otherwise to carry any such agreement into effect.
(5) The provisions of this Order shall, with any necessary modifications, apply to the execution of any works by the Department in pursuance of an agreement under paragraph (4) as they would have applied to their execution by the Corporation.
(6) In this Article “relevant body”” means—
(a)a Northern Ireland Department;
(b)the Northern Ireland Housing Executive;
(c)the Northern Ireland Railways Company Limited;
(d)the Belfast City Council;
(e)the Belfast Harbour Commissioners;
(f)any other body (being a body established under a statutory provision) specified for the purposes of this Article by an order made by the Department.
15. The Corporation may—
(a)carry out; or
(b)after consultation with the Department, give financial assistance towards the carrying out of,
such studies, investigations and research as the Corporation considers will further the object of the Corporation.
16. Where under the Planning (Northern Ireland) Order[F2 1991] the Department is required to consult with the Belfast City Council about any matter relating to or affecting the designated area or land in that area, the Department shall also consult with the Corporation about that matter.