1(1)The Welsh Authority (in this Schedule referred to as “the Authority”) shall not be treated for the purposes of the enactments and rules of law relating to the privileges of the Crown as a body exercising functions on behalf of the Crown.
(2)It shall be within the capacity of the Authority as a statutory corporation to do such things and enter into such transactions as are incidental or conducive to the discharge of their functions under this Act, including the borrowing of money.