(1)The Secretary of State shall by order establish a corporation, in this Act called a development corporation, for the purposes of the development of each new town the site of which is designated under section 1 above F1. . .
(2)A development corporation shall be a body corporate by such name as may be prescribed by the order, and shall consist of—
(a)a chairman;
(b)a deputy chairman; and
(c)such number of other members, not exceeding 11, as may be prescribed by the order.
(3)Schedule 3 to this Act has effect with respect to the constitution and proceedings of a development corporation.
(4)Nothing in this Act (except the express provision relating to stamp duty in section 72(1) below) shall be construed as exempting a development corporation from liability for any tax, duty, rate, levy or other charge whatsoever, whether general or local.
Textual Amendments
F1Words in s. 3(1) repealed (1.10.1998) by 1998 c. 38, s. 152, Sch. 18 Pt. IV (with ss. 137(1), 139(2), 141(1), 143(2)); S.I. 1998/2244, art. 4