(1)Subject to the following provisions of this Part, for the purpose of achieving its objects the Agency may—
(a)acquire, hold, manage, reclaim, improve and dispose of land, plant, machinery, equipment and other property;
(b)carry out the development or redevelopment of land, including the conversion or demolition of existing buildings;
(c)carry out building and other operations;
(d)provide means of access, services or other facilities for land;
(e)seek to ensure the provision of water, electricity, gas, sewerage and other services;
(f)carry on any business or undertaking for the purposes of its objects;
(g)with the consent of the Secretary of State, form, or acquire interests in, bodies corporate;
(h)act with other persons, whether in partnership or otherwise;
(i)give financial assistance to other persons;
(j)act as agent for other persons;
(k)provide advisory or other services and facilities; and
(l)generally do anything necessary or expedient for the purposes of its objects or for purposes incidental to those purposes.
(2)Nothing in section 159 or this section shall empower the Agency—
(a)to provide housing otherwise than by acquiring existing housing accommodation and making it available on a temporary basis for purposes incidental to the purposes of its objects;
(b)to acquire an interest in a body corporate which at the time of the acquisition is carrying on a trade or business, if the effect of the acquisition would be to make the body corporate a subsidiary of the Agency; or
(c)except with the consent of the Secretary of State, to dispose of any land otherwise than for the best consideration which can reasonably be obtained.
(3)For the avoidance of doubt it is hereby declared that subsection (1) relates only to the capacity of the Agency as a statutory corporation and nothing in section 159 or this section authorises it to disregard any enactment or rule of law.
(4)In this section—
“improve”, in relation to land, includes refurbish, equip and fit out;
“subsidiary” has the meaning given by section736 of the M1Companies Act 1985;
and in this section and the following provisions of this Part references to land include land not falling within subsection (1) or (3) of section 159.
Modifications etc. (not altering text)
C1S. 160(1) extended (31.3.1998) by S.I. 1998/569, art. 4.
C2S. 160(2)(b) excluded (31.3.1998) by S.I. 1998/569, art. 4.
Marginal Citations