In subsection (1) of section 36 of the 1981 Act5 (functions of Commission), in paragraph (a), for the words from “the property” to “this Act,” there shall be substituted the following sub-paragraphs—

“(i)

the property of development corporations transferred to the Commission under this Act, and

(ii)

the property of urban development corporations transferred to the Commission by order under section 165B of the Local Government, Planning and Land Act 1980,”.

After that subsection there shall be inserted the following subsection—

“(3A)

Subject to the provisions of this Act and to any direction given to them by the Secretary of State under section 37 below, the Commission has power, with a view to the better fulfilment of any of the purposes mentioned in subsection (1) above, so far as it relates to property of urban development corporations,—

(a)

to acquire, hold, manage and turn to account any land or other property, including any interest in or rights over land; and

(b)

to make contributions towards the cost of providing—

(i)

roads;

(ii)

water supplies;

(iii)

gas or electricity services; or

(iv)

sewerage or sewage disposal services.”.

After subsection (4) of that section there shall be inserted the following subsection—

“(4A)

In this section “urban development area” means land which is or was, or is or was part of, an urban development area (within the meaning of Part XVI of the Local Government, Planning and Land Act 1980) and—

(a)

any reference to property transferred to the Commission by order under section 165B of that Act includes a reference to rights and liabilities so transferred; and

(b)

in relation to liabilities so transferred, any reference to disposal includes a reference to extinguishment.”.