http://www.legislation.gov.uk/id/ukpga/1975/70

E11F1Welsh developmentF1.

F21

The functions specified in the following provisions of this Act are conferred upon the National Assembly for Wales (in this Act referred to as the “Assembly”).

F22

The purposes for which the F3AssemblyF3 may exercise F4itsF4 functions F5under this ActF5 are—

a

to further the economic F6and social development of Wales or any part of Wales F7, and in that connection to provide, maintain or safeguard employment;

b

to promote F8efficiency in business and international competitiveness in Wales;

c

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F9

d

to further the improvement of the environment in Wales (having regard to existing amenity).

3

Without prejudice to the following provisions of this Act, the functions of the F3AssemblyF3F10under this ActF10 shall be—

a

to promote Wales as a location F11for businesses, or assist or concert its promotion as such a location;

b

to provide finance for persons carrying on or intending to carry on F12businesses;

c

to carry on industrial undertakings and to establish and carry on new F12businesses;

d

otherwise to promote or assist the establishment, growth . . . F13, modernisation or development of F14businesses, or a particular business or particular businesses;

e

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F16

f

to provide sites, premises, services and facilities for F12businesses;

g

to manage sites and premises for F12businesses;

h

to bring derelict land into use or improve its appearance; . . . F17

i

to undertake the development and redevelopment of the environment.

F18j

to promote the private ownership of interests in F12businesses by the disposal of securities and other property held by the F3AssemblyF3 or any of F4itsF4 subsidiaries.

4

In exercising F4itsF4 functions F5under this ActF5 the F3AssemblyF3 shall have regard to the requirements of agriculture and efficient land management.

5

The F3AssemblyF3 may only exercise functions under subsection (3)(c) above through subsidiaries.

6

The F3AssemblyF3 shall have power to do anything, whether in Wales or elsewhere, which is calculated to facilitate the discharge of F4itsF4 functions specified in subsection (3) above, or is incidental or conducive to their discharge.

7

In particular, but without prejudice to the generality of subsection (6) above, the F3AssemblyF3 shall have power F19in connection with its functions under this ActF19—

a

to acquire, hold and dispose of securities;

b

to form bodies corporate;

c

to form partnerships with other persons;

d

to make loans;

e

to guarantee obligations (arising out of loans or otherwise) incurred by other persons;

f

to make grants;

g

to act as agent for other persons;

h

to acquire and dispose of land, plant, machinery and equipment and other property;

i

to manage land, and to develop land and carry out works on land, and to maintain works or assist in their maintenance;

k

to make land, plant, machinery and equipment and other property available for use by other persons;

l

to provide advisory or other services or facilities in relation to any of F4itsF4 functions, or assist in F4itsF4 provision; and

m

to promote or assist in the promotion of publicity relating to any of the functions of the F3AssemblyF3F20under this ActF20.