2. General purposes and functions. N.I.
(1) The purposes for which the Agency may exercise their functions in relation to Scotland or any part thereof are—
(a) furthering economic development [ F3 ,including in that connection the provision, maintenance or safeguarding of employment ] ;
(b) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F4
(c) the promotion of industrial efficiency and international competitiveness; and
(d) furthering the improvement of the environment.
(2) The functions of the Agency shall be—
(a) providing or assisting in the provision of finance to persons carrying on or intending to carry on industrial undertakings;
(b) carrying on, or establishing and carrying on, whether by themselves or jointly with any other person, industrial undertakings;
(c) otherwise promoting or assisting the establishment, growth, . . . F5 , modernisation or development of industry or any undertaking in an industry;
(d) providing or adapting sites and providing, adapting, modernising or reconstructing premises for industrial undertakings, or assisting any other person to do any of those things, and providing or assisting in the provision of related services or facilities;
(e) managing or assisting in the management of sites and premises for industrial undertakings;
(f) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F6
(g) undertaking or assisting the undertaking of the development, re-development and improvement of the environment;
(h) bringing derelict land into use or improving its appearance; . . . F7
(i) such other functions as are conferred by or under this Act. [ F8 (j) promoting the private ownership of interests in industrial undertakings by the disposal of securities and other property held by the Agency or any of their subsidiaries. ]
(3) The Agency may do anything, whether in Scotland or elsewhere, which is calculated to facilitate the discharge of their functions or is incidental or conducive to their discharge.
(4) In particular, but without prejudice to the aforesaid generalities, and subject to subsections (6) and (7) below, the Agency shall have power—
(a) to acquire, hold and dispose of securities;
(b) to form bodies corporate;
(c) to form partnerships with other persons;
(d) to make loans;
(e) to guarantee obligations (arising out of loans or otherwise) incurred by other persons;
(f) to make grants;
(g) to act as agent for other persons;
(h) to acquire and dispose of premises, plant, machinery and equipment, and other property;
(i) to manage land, to develop land or to carry out works on land, and to maintain or assist in the maintenance of any such works;
(j) to make land, premises, plant, machinery and equipment and other property available for use by other persons;
(k) to reclaim land from the sea;
(l) to provide or assist in the provision of advisory or other services or facilities for any person or undertaking; and
(m) to promote or assist in the promotion of publicity relating to the functions of the Agency.
(5) The functions of the Agency mentioned in subsection (2)( b ) above may only be exercised through a company within the meaning of the M1 Companies Act 1948 or through a partnership firm.
(6) Except with the approval of the Secretary of State, the powers mentioned in subsection (4)( a ) to ( e ) above may only be exercised in connection with the Agency’s functions mentioned in subsection (2)( a ) and ( b ) above.
(7) The power to make grants conferred by subsection (4)( f ) above may only be exercised with the consent of the Secretary of State or in accordance with a general authority given by him.
(8) The powers conferred on the Agency by this Act shall be exercisable in relation to land not belonging to them on such terms as may be arranged by agreement with all persons having an interest in the land.
(9) In exercising their functions the Agency shall have regard to the requirements of agriculture and efficient land management and to the desirability of safeguarding the environment.
(10) For the avoidance of doubt, it is hereby declared that nothing in this Act is to be construed as authorising the disregard by the Agency of any enactment or rule of law. ] Textual Amendments F2 Act except ss. 1, 20, 28, and paras. 1 to 6, 11 to 14, 16 and 17 of Sch. 1 repealed (E.W.S.) (1.4.1991) by 1990 c. 35 , ss. 22(1) , 23(4) , 38(2) , Sch. 3 , Sch. 5 Pt. II ; Enterprise and New Towns (Scotland) Act 1990 Transfer Dates Order dated 1.3.1991. F3 Words added by Industry Act 1980 (c. 33, SIF 64) , s. 1(2) ( a ) F4 S. 2(1)(b) repealed by Industry Act 1980 (c. 33, SIF 64) , s. 22 , Sch. 2 F5 Word repealed (with saving) by Industry Act 1980 (c. 33, SIF 64) , s. 21(2) , Sch. 2 F6 S. 2(2)(f) repealed (with saving) by Industry Act 1980 (c. 33, SIF 64) , s. 21(2) , Sch. 2 F7 Word repealed (with saving) by Industry Act 1980 (c. 33, SIF 64) , s. 21(2) , Sch. 2 F8 S. 2(2)(j) added by Industry Act 1980 (c. 33, SIF 64) , s. 1(2) ( b ) Marginal Citations M1 1948 c. 38 .
