General powers of the InstituteN.I.
7.—(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.