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(1)The Secretary of State shall by order establish a corporation, in this Act called a development corporation, for the purposes of the development of each new town the site of which is designated under section 1 above, subject to section 3(2) of the [1976 c. 75.] Development of Rural Wales Act 1976.
(2)A development corporation shall be a body corporate by such name as may be prescribed by the order, and shall consist of—
(a)a chairman;
(b)a deputy chairman ; and
(c)such number of other members, not exceeding 11, as may be prescribed by the order.
(3)Schedule 3 to this Act has effect with respect to the constitution and proceedings of a development corporation.
(4)Nothing in this Act (except the express provision relating to stamp duty in section 72(1) below) shall be construed as exempting a development corporation from liability for any tax, duty, rate, levy or other charge whatsoever, whether general or local.
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