The Corporation may act as agent—
(a)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
(b)for the Secretary of State in the execution of any work in respect of which such an advance is made to him.