Industrial Development Act 1985 (c. 25)

(1) The functions of the English Industrial Estates Corporation under section 2 of the M1 English Industrial Estates Corporation Act 1981 (referred to below in this Act as “ the 1981 Act ”) shall be extended in accordance with subsection (2) below. (2) After subsection (1) of that section there shall be inserted the following subsections— “ (1A) Subject to directions given under subsection (4) below, the Corporation may provide, or assist in the provision of— (a) any services which appear to the Corporation to be calculated to facilitate or improve the running of an industrial or commercial undertaking; and (b) advisory services in relation to the establishment or location of any such undertaking. (1B) Subsection (1A) above only applies where— (a) the undertaking in question is in occupation of any site or premises provided or managed by the Corporation or whose provision has been facilitated by the Corporation under subsection (1)(a) above; or (b) any exercise by the Corporation of any of its powers under subsection (1)(a) above in relation to the provision or management of any site or premises for occupation by that undertaking is in view. ” (3) There shall be paid out of money provided by Parliament any increase attributable to the provisions of this section in the sums required by the Secretary of State for defraying out of such money the expenses of the English Industrial Estates Corporation. Marginal Citations M1 1981 c. 13 .

For section 4(1) of the 1981 Act (which confers borrowing power on the Corporation, but limits that power to borrowing from the Commission of [ F1 the European Union ] or from the European Investment Bank) there shall be substituted the following subsection— “ (1) For the purpose of the exercise of any of its functions, the Corporation may, in accordance with directions under section 2(4) above given with the approval of the Treasury, borrow either in sterling or in a currency other than sterling from any person other than the Secretary of State. ” Textual Amendments F1 Words in Act substituted (22.4.2011) by The Treaty of Lisbon (Changes in Terminology) Order 2011 (S.I. 2011/1043) , arts. 2 , 3 , 4 (with arts. 3(2) (3) , 4(2) , 6(4) (5) )