PART IITHE AGRI-FOOD AND BIOSCIENCES INSTITUTE
General powers of the Institute7
1
The Institute may do anything which it thinks is—
a
appropriate for facilitating; or
b
incidental or conducive to,
the exercise of any of its functions.
2
In particular the Institute may—
a
acquire by agreement or dispose of land and other property;
b
form or participate in the formation of companies;
c
enter into arrangements with any other person for the carrying out by that other person of any assigned work of the Institute;
d
co-operate and enter into arrangements with other persons or bodies engaged in scientific work (whether in Northern Ireland or elsewhere); and
e
accept gifts, grants or other financial assistance in connection with its scientific work.
3
But the Institute may not, except with the approval of the Department and the Department of Finance and Personnel—
a
borrow money;
b
dispose of land; or
c
form or participate in the formation of companies.
4
The Institute may not enter into any such arrangement as is mentioned in paragraph (2)(c) without the approval of the Department.
5
An approval under this Article may be given subject to such terms and conditions as the Department or, as the case may be, the Department of Finance and Personnel thinks appropriate.