3Power of the new Boards to form companies
(1)With the consent of the Lord President of the Council and subject to any conditions he may impose, a new Board may form, or take part in forming, one or more bodies corporate which, or each of which, has as its main object or objects—
(a)one or more of those mentioned in whichever of subsections (2) to (5) below has effect in relation to that new Board; or
(b)any other object or objects incidental to the new Board’s functions.
(2)In relation to the National Gallery Board, the objects are—
(a)the production and publication of books, films or other informative material relating to fine art;
(b)the production of replicas or reproductions of works of art, or of souvenirs;
(c)the sale (whether or not at an hour when the collection is open to the public for viewing) of informative material relating to fine art, of replicas or reproductions of works of art, or of souvenirs or other goods; and
(d)the provision (whether or not at such an hour) of catering or car parking or other services or facilities for the public at any premises occupied or managed by the Board.
(3)In relation to the Tate Gallery Board, the objects are—
(a)the production and publication of books, films or other informative material relating to British art or Twentieth Century or contemporary art;
(b)the commissioning of works of art;
(c)the production of replicas or reproductions of works of art, or of souvenirs;
(d)the sale (whether or not at an hour when the collection is open to the public for viewing) of informative material relating to art, of replicas or reproductions of works of art, or of souvenirs or other goods; and
(e)the provision (whether or not at such an hour) of catering or car parking or other services or facilities for the public at any premises occupied or managed by the Board.
(4)In relation to the National Portrait Gallery Board, the objects are—
(a)the production and publication of books, films or other informative material relating to portraiture of British persons or British history through portraiture;
(b)the commissioning of portraits of eminent British persons;
(c)the production of replicas or reproductions of such portraits, or of souvenirs;
(d)the sale (whether or not at an hour when the collection is open to the public for viewing) of informative material relating to portraiture of British persons or British history through portraiture, of replicas or reproductions of portraits of eminent British persons, or of souvenirs or other goods; and
(e)the provision (whether or not at such an hour) of catering or car parking or other services or facilities for the public at any premises occupied or managed by the Board.
(5)In relation to the Wallace Collection Board, the objects are—
(a)the production and publication of books, films or other informative material relating to fine or applied art;
(b)the production of replicas or reproductions of works of art, or of souvenirs;
(c)the sale (whether or not at an hour when the collection is open to the public for viewing) of informative material relating to fine or applied art, of replicas or reproductions of works of art, or of souvenirs or other goods; and
(d)the provision (whether or not at such an hour) of catering or car parking or other services or facilities for the public at any premises occupied or managed by the Board.
(6)A new Board authorised by subsection (1) above to form or take part in forming any such body as is mentioned in that subsection may hold interests in any such body, exercise rights conferred by the holding of interests in it, and provide financial or other assistance to or in respect of it (including assistance by way of guarantee of its obligations).
(7)This section is without prejudice to any power of a new Board to undertake by virtue of section 2 above anything mentioned in subsection (1)(b) above or in whichever of subsections (2) to (5) above has effect in relation to that new Board.