Development of Inventions Act 1967

SCHEDULE U.K. The National Research Development Corporation

1 U.K. The Corporation shall have a common seal.

2 (1) The Minister shall have power, exercisable by statutory instrument, to make regulations with respect to— U.K.

(a) the appointment of the members of the Corporation and their tenure and vacation of office;

(b) the execution of instruments and the proof of documents purporting to be executed, issued or signed by the Corporation or a member or officer thereof.

(2) Subject to the provisions of regulations under sub-paragraph (1) of this paragraph, the Corporation shall have power to regulate their own procedure, including the manner in which matters subject to the determination of the Corporation are to be determined by or on behalf of the Corporation.

(3) Regulations made under this paragraph shall be subject to annulment in pursuance of a resolution of either House of Parliament.

3 U.K. The validity of any proceeding of the Corporation shall not be affected by any vacancy among the members thereof or by any defect in the appointment of a member thereof.

4 The Corporation shall—

(a) pay to each member of the Corporation other than the managing director, in respect of the member’s office as such, such remuneration and allowances as the Minister may with the consent of [F1 the Treasury] determine, and to the chairman, in respect of his office as such, such remuneration and allowances (in addition to any remuneration and allowances to which he may be entitled in respect of his office as a member) and to the managing director such salary and allowances, as the Minister may with the like consent determine; and

(b) as regards any member in whose case the Minister may with the consent of [F1 the Treasury] determine to make provision for the payment on his death or retirement of a pension, gratuity, or other like benefit, pay or provide for the payment of such pension, gratuity or other like benefit to him or to others by reference to his service as the Minister may with the like consent determine.

Textual Amendments

F1 Words substituted by virtue of S.I. 1981/1670, arts. 2, 3(5)

5 If any member of the Corporation, other than the chairman or the managing director, is employed about the affairs of the Corporation otherwise than as a member thereof, the Corporation may pay to that member such remuneration and allowances (in addition to any remuneration or allowances to which he may be entitled in respect of his office as a member) as the Corporation may determine.

6 The Corporation shall—

(a) pay to their officers, servants and agents such remuneration as the Corporation may determine; and

(b) as regards any officer, servants or agents in whose case it may be determined by the Corporation . . . F2 to make provision for the payment on their death or retirement of pensions, gratuities or other like benefits, pay, or provide for the payment of, such pensions, gratuities or other like benefits to them or to others by reference to their service as may be so determined.

Textual Amendments

F2 Words repealed by Superannuation Act 1972 (c. 11), Sch. 8

7 Provision for pensions, gratuities or other like benefits under this Schedule may be made either by contributory or by non-contributory arrangements or partly by the one and partly by the other.

8 Without prejudice to the provisions of section 2(2) of this Act, the Corporation shall have power to do any thing and to enter into any transaction which in their opinion is calculated to facilitate the proper discharge of their functions or is incidental or conducive thereto:

Provided that—

(a) the borrowing powers of the Corporation shall not extend beyond the powers expressly conferred by the provisions of this Act in that behalf;

(b) the provisions of this paragraph shall not affect the provisions of this Act as to the giving of directions to the Corporation.

9 U.K. It is hereby declared that nothing in this Act exempts the Corporation from liability to any tax, duty, rate, levy or other charge whatsoever, whether general or local.