(1)The general functions of the Council (to the extent only that such functions are charitable) shall be:—
(a)to encourage the development of body, mind and spirit through physical and cultural activities, and to inculcate qualities of leadership and, especially, to promote the well-being of young people through any form of physical or cultural activity;
(b)to provide or assist in the provision of facilities and services for, or in connection with, any form of physical or cultural activity and for encouraging social intercourse and well-being generally including the provision of facilities for training whole-time and voluntary coaches, leaders and instructors for youth organisations, institutions controlled or assisted by local education authorities and other institutions or bodies concerned with the well-being of young people;
(c)to undertake trust business for the benefit of any such organisation, institution or body as aforesaid or any sports club or athletic or physical training or cultural association, including the holding of land as custodian or trustee; and
(d)to do all such other things as the Council may consider conducive to the carrying out of any one or more of its functions under this Act and which shall be consistent with the objects of the national memorial to His late Majesty King George the Sixth.
(2)Without prejudice to sub-section (1) it shall be a specific function of the Council—
(a)to enter into and carry into effect an agreement (in this Act referred to as “the vesting agreement” ) with the Lord Mayor, Aldermen and Citizens of the City of Belfast acting by the Council as the Local Education Authority for the County Borough of Belfast (in this Act referred to as “the Corporation” ) in terms of the draft set out in the Second Schedule; and
(b)to apply any sums made available to the Council, by the Council of the King George VI Foundation or otherwise, for the purposes of any of the functions of the Council.
(3)The Council shall have and may exercise all such powers as are reasonably necessary for or incidental to the carrying out of its functions under this Act, including power to enter into and carry out agreements for the provision by any other person of any facility or service which the Council is authorised to provide.