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Development of Inventions Act 1967

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This is the original version (as it was originally enacted).

4Matters requiring Ministerial approval

(1)Subject to the provisions of this section, the approval of the Minister shall be requisite for the exercise by the Corporation of any of the following activities, that is to say—

(a)the carrying out by the Corporation, or the entering by the Corporation into any agreement for the carrying out on their behalf, of any project for the making of goods, the construction of works or the provision of services, or the setting up by the Corporation of any company or other organisation for carrying out any such project;

(b)the provision of financial assistance to any person undertaking the development or exploitation of any invention;

(c)the acquisition of, or of any interest in, any under taking ;

and for the exercise by the Corporation of the functions conferred on them by section 2(1)(c) and (d) of this Act.

(2)Notwithstanding paragraphs (a) or (b) of subsection (1) of this section, the approval of the Minister shall not be requisite—

(a)by virtue of the said paragraph (a), for anything done only by way of experiment or trial, or

(b)by virtue of the said paragraph (b), for the giving of assistance to a person in any year where the amount of that assistance together with any other assistance given to him by the Corporation in that year (less, where that other assistance took the form of a loan, any repayment made by him) does not exceed £1,000.

(3)The approval of the Minister may be given for the purposes of this section either as respects any particular case or as respects any class of cases and subject to such conditions and limitations as the Minister thinks fit.

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