Section 2 (and Schedule 3): Functions of Invest NI
Section 2 (and Schedule 3) provides for the functions of Invest NI by transferring existing industrial development functions to it. In broad terms this means that, from the appointed day, Invest NI will exercise those functions previously carried out by the Department under Part III of the Industrial Development (NI) Order 1982 and Article 3 of the Energy Efficiency (NI) Order 1999.
Section 2 (Subsection 1) (a) transfers to Invest NI, (subject to the exceptions outlined in Section 2 (2)), the powers currently exercised by the Department under Articles 7 to 11 and 13 of the Industrial Development (NI) Order 1982. This will enable Invest NI to provide financial assistance to industrial undertakings.
Section 2 (Subsection 1) (b) transfers to Invest NI the powers in Article 3 of the Energy Efficiency (NI) Order 1999. This provision enables Invest NI to take action for the purpose of promoting the efficient use of energy in industry.
Section 2 (Subsection 3) makes it incumbent upon Invest NI to advise the Department on general formulation of industrial development policy.
Section 2 (Subsections 4 & 5) enables the Department to issue directions to Invest NI having firstly consulted with it.
Schedule 3 (Paragraphs 1 to 14) effects amendments consequential on the transfer of powers from the Department to Invest NI, as outlined in Clause 2.
Schedule 3 (Paragraph 15) amends Schedule 2 of the Industrial Development (NI) Order in relation to the compulsory acquisition of land by Invest NI. This will enable the Department to make a vesting order on behalf of Invest NI where Invest NI proposes to acquire land otherwise than by agreement.
Schedule 3 (Paragraphs 16 to 18) effects consequential amendments to the Energy Efficiency (NI) Order 1999.