(1)The objects of a development corporation established for the purposes of a new town shall be to secure the laying out and development of the new town in accordance with proposals approved in that behalf under this Act.
(2)To secure such laying out and development every development corporation shall have power (subject to section 5 below)—
(a)to acquire, hold, manage and dispose of land and other property,
(b)to carry out building and other operations,
(c)to provide water, electricity, gas, sewerage and other services,
(d)to carry on any business or undertaking in or for the purposes of the new town,
and generally to do anything necessary or expedient for the purposes or incidental purposes of the new town.
(3)In relation to subsection (2) above—
(a)the power of acquiring land conferred by that subsection on a development corporation includes power to acquire any land within the area of the new town, whether or not it is proposed to develop that particular land; and
(b)the power of disposing of land conferred by that subsection on a development corporation includes, in relation to any land within the area of the new town, power to dispose of that land, whether or not the development of that particular land has been proposed or approved under section 7(1) below.
(4)A development corporation (without prejudice to the generality of the powers conferred on development corporations by this Act)—
(a)may, with the Secretary of State’s consent, contribute such sums as he may, with the Treasury’s concurrence, determine towards expenditure incurred or to be incurred by any local authority or statutory undertakers in the performance, in relation to the new town, of any of their statutory functions, including expenditure so incurred in the acquisition of land; and
(b)may, with the like consent, contribute such sums as the Secretary of State, with the like concurrence, may determine by way of assistance towards the provision of amenities for the new town.
(5)A transaction between a person and a development corporation shall not be invalidated by reason of any failure by the corporation to observe—
(a)the objects in subsection (1) above, or
(b)the requirement in subsection (2) above that the corporation shall exercise the powers conferred by that subsection for the purpose there mentioned,
but (it being declared for the avoidance of doubt) nothing in this section shall be construed as authorising the disregard by a development corporation of any enactment or rule of law.