The Strategic Investment and Regeneration of Sites (Northern Ireland) Order 2003

Object and general powers of development corporations N.I.

16.—(1) The object of a development corporation is to secure the regeneration of its site.

(2) That object is to be achieved in particular by the following means (or by such of them as seem to the corporation to be appropriate) –

(a) by bringing land and buildings into effective use;

(b) by encouraging public and private investment and the development of industry and commerce;

(c) by creating an attractive environment;

(d) by ensuring that social, recreational, cultural and community facilities are available.

(3) Subject to the following provisions of this Part, for the purpose of achieving its object a development corporation may –

(a) hold, manage and dispose of land and other property;

(b) carry out the development or redevelopment of land, including the conversion or demolition of existing buildings;

(c) carry out building and other operations;

(d) provide services and facilities;

(e) act with other persons, whether in partnership or otherwise;

(f) give financial assistance to other bodies or persons in accordance with Article 18;

(g) carry on any business or undertaking;

(h) carry out studies, investigations and research;

(i) generally do anything necessary or expedient for the purposes of its object or for purposes incidental to those purposes.

(4) Paragraph (3) relates only to the capacity of a development corporation as a statutory corporation and nothing in this Article authorises a development corporation to disregard a statutory provision or rule of law.

(5) A transaction between a person and a development corporation is not invalidated by reason of any failure of the corporation to observe –

(a) the object in paragraph (1); or

(b) the requirement in paragraph (3) that the corporation shall exercise the powers conferred by that paragraph for the purpose of achieving that object.