Local Employment Act 1972

Industrial estates corporations

10 Constitution of the corporations

(1) There shall continue to be three corporations (being the corporations established by section 8 of the [1960 c. 18.] Local Employment Act 1960) named the English Industrial Estates Corporation, the Scottish Industrial Estates Corporation and the Welsh Industrial Estates Corporation which shall be charged as respects England, Scotland and Wales respectively with the exercise of the functions conferred on them by the following provisions of this Act.

(2) Each of the corporations (in this Act referred to as an " industrial estates corporation") shall consist of a chairman and four other members appointed by the Secretary of State, and the members shall include a person appearing to the Secretary of State to have adequate experience of industrial matters, a person appearing to him to have adequate experience in the organisation of workers, and one or more persons appearing to him to have adequate experience in accountancy, building or estate management.

(3) The Secretary of State may by regulations make provision with respect to the appointment, tenure of office and removal of members of an industrial estates corporation, the manner of execution of instruments and of entering into contracts by it and on its behalf, and the proof of documents executed by it or on its behalf.

(4) The provisions of Schedule 1 to this Act shall have effect in relation to the industrial estates corporations.

11 Functions of the corporations

(1) It shall be the duty of the industrial estates corporations to manage land leased to them under this Act by the Secretary of State or vested in them by the [1960 c. 18.] Local Employment Act 1960 (whether or not situated in a development area or intermediate area) and, in accordance with directions of the Secretary of State in that behalf, to do anything which is required—

(a) in order to develop the land by the erection or extension of buildings and the carrying out of works ;

(b) in order to provide (by letting or otherwise) premises for the occupation of undertakings or for otherwise meeting the requirements of undertakings (including requirements arising from the needs of persons employed or to be employed therein); or

(c) in order to provide means of access, services or other facilities for meeting those requirements.

(2) The power of the corporations to provide services or other facilities for meeting the requirements of any undertaking shall be exercisable whether or not the undertaking is carried on on land leased from the corporations.

(3) A direction may be given under subsection (1) of this section that a corporation shall not provide services or facilities except with the consent of, and in such manner as may be determined by, the Secretary of State; but this subsection shall not apply to the provision of heat, light, power or water, or the disposal of sewage and refuse, for meeting the requirements of an undertaking carried on on land leased from the corporation.

(4) Each of the corporations shall have power to provide, or assist in the provision of, advisory services in relation to the building of factories or the development or management of industrial estates, but shall not exercise that power except with the consent of, and in such manner as may be determined by, the Secretary of State.

(5) If it appears to the Secretary of State that an undertaking is to be set up in a development area or intermediate area in circumstances which justify the giving of special assistance, the Secretary of State may authorise any of the corporations to provide premises for the occupation of the undertaking free of rent for such period as the Secretary of State thinks appropriate.

(6) Where the Secretary of State is disposing of his interest in any land of which an industrial estates corporation is a tenant, the corporation shall comply with any direction of the Secretary of State as to the assignment or surrender of the corporation's interest.

(7) Without prejudice to the foregoing provisions of this section, the Secretary of State may give general directions to an industrial estates corporation as to the exercise of its functions, and in particular as to the location of head or branch offices of the corporation.

(8) All receipts of an industrial estates corporation other than—

(a) receipts determined by the corporation in accordance with any directions of the Secretary of State to be required to be retained for meeting expenses properly payable out of income ; and

(b) receipts of the Scottish Industrial Estates Corporation on behalf of the Highlands and Islands Development Board when acting as agent for that Board under section 5(5) of the [1965 c. 46.] Highlands and Islands Development (Scotland) Act 1965,

shall be paid over to the Secretary of State.

(9) The expenses of an industrial estates corporation incurred in the exercise of its functions under the foregoing provisions of this section shall, except in so far as they are met out of receipts of the corporation, be defrayed by the Secretary of State.

(10) Without prejudice to section 5(5) of the said Act of 1965, an industrial estates corporation may act as agent—

(a) for the Secretary of State, or for any other industrial estates corporation, in the carrying out of any functions of the Secretary of State or corporation under this Act;

(b) for the Development Commissioners in the carrying out of the functions of the Commissioners in relation to applications for advances under Part I of the [1909 c. 47.] Development and Road Improvement Funds Act 1909 and in relation to the framing of schemes with respect to any of the matters for which such advances may be made; or

(c) for the Secretary of State in the execution of any work in respect of which such an advance as aforesaid is made to the Secretary of State.

12 Accounts and reports of the corporations

(1) An industrial estates corporation shall keep proper accounts and proper records in relation to the accounts, and shall prepare in respect of each financial year of the corporation a statement of accounts in such form as the Secretary of State, with the consent of the Treasury, may direct, being a form conforming with the best commercial standards.

(2) The accounts of an industrial estates corporation shall be audited by auditors to be appointed annually by the Secretary of State.

(3) No person shall be qualified to be appointed under subsection (2) of this section unless he is a member of one or more of the following bodies:—

(a) the Institute of Chartered Accountants in England and Wales;

(b) the Institute of Chartered Accountants of Scotland;

(c) the Association of Certified Accountants ;

(d) the Institute of Chartered Accountants in Ireland;

(e) any other body of accountants established in the United Kingdom and for the time being recognised by the Secretary of State for the purposes of section 161(1)(a) of the [1948 c. 38.] Companies Act 1948.

(4) So soon as the accounts of an industrial estates corporation for any financial year have been audited, the corporation shall send to the Secretary of State a report on the discharge of its functions during that year and that report shall include a copy of the statement of accounts for that year together with a copy of any report made by the auditors on the accounts.