Welsh Development Agency Act 1975

1 The Welsh Development Agency

(1) There shall be established a body to be called the Welsh Development Agency (in this Act referred to as " the Agency ") having the functions specified in the following provisions of this Act.

(2) The purposes for which the Agency may exercise their functions are—

(a) to further the economic development of Wales or any part of Wales;

(b) to promote industrial efficiency and international competitiveness in Wales;

(c) to provide, maintain or safeguard employment in any part of Wales; and

(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 Agency shall be—

(a) to promote Wales as a location of industrial development, or assist or concert its promotion as such a location;

(b) to provide finance for persons carrying on or intending to carry on industrial undertakings ;

(c) to carry on industrial undertakings and to establish and carry on new industrial undertakings;

(d) otherwise to promote or assist the establishment, growth reorganisation, modernisation or development of an industry or any undertaking in an industry;

(e) to promote industrial democracy in undertakings which the Agency control;

(f) to provide sites, premises, services and facilities for industrial undertakings;

(g) to manage sites and premises for industrial under takings ;

(h) to bring derelict land into use or improve its appearance ; and

(i) to undertake the development and redevelopment of the environment.

(4) In exercising their functions the Agency shall have regard to the requirements of agriculture and efficient land management.

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

(6) The Agency shall have power to do anything, whether in Wales or elsewhere, which is calculated to facilitate the discharge of their 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 Agency shall have power—

(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 their functions, or assist in their provision; and

(m) to promote or assist in the promotion of publicity relating to any of the functions of the Agency.

(8) Unless the Secretary of State otherwise directs under subsection (9) below, the powers mentioned in subsection (7)(a) to (e) above may only be exercised in connection with the Agency's functions mentioned in subsection (3)(b) and (c) above, and the power mentioned in subsection (7)(f) above shall not be used in connection with those functions.

(9) Subject to subsection (10) below, the Secretary of State may give the Agency directions of a general or specific character as to the exercise of their functions ; and it shall be the duty of the Agency to give effect to any such directions.

(10) The Secretary of State shall consult the Agency about any proposed direction.

(11) Subject to paragraph 9(3) of Schedule 3 below, when the Secretary of State gives a direction under this section in connection with the Agency's functions under subsection (3)(b) or (c) above, he shall either—

(a) lay a copy of the direction before each House of Parliament within 28 days of giving it; or

(b) lay a copy later, but lay with it a statement of the reason why a copy was not laid within 28 days.

(12) The Agency's report for any accounting year shall set out any direction under this section given during that year.

(13) Any direction given under this section may be varied or revoked by a subsequent direction so given.

(14) It shall be the Agency's duty, after consultation with such local authorities and other bodies as appear to the Agency to have an interest, from time to time to prepare and submit to the Secretary of State for his approval schemes for the performance of such of their functions as he may direct.

(15) The Secretary of State may approve a scheme in whole or in part, with or without modifications, or may refuse to approve a scheme.

(16) For the avoidance of doubt it is hereby declared that nothing in this Act is to be construed as authorising the disregard by the Agency of any enactment or rule of law.