Football Sponsorship Levy Bill - continued        House of Commons

back to previous text
General powers and duties of the levy board.     2. - (1) The levy board shall have power-
    (a) with the approval of, and subject to any conditions imposed by, the Secretary of State, to engage in any activity connected with the purposes mentioned in section 1(1) of this Act;
    (b) to acquire and hold such land as may be reasonably required for the purposes of any of their functions and to sell or lease any land held by them which is not required for those purposes;
    (c) to borrow for the purposes of any of their functions and to give security for any moneys borrowed by them;
    (d) to lend or invest money for the purposes of or in connection with any activity in which they have power under paragraph (a) of this subsection to engage;
    (e) to make such loans or investments as they judge desirable for the proper conduct of their affairs and as, under the enactments for the time being in force, a trustee would be authorised to make out of trust funds;
    (f) to do all such things as are incidental to, or conducive to the attainment of the purposes of, any of their functions.
      (2) The levy board shall apply any moneys from time to time available in their hands-
    (a) in providing for the payment of rates, taxes, charges, expenses and other outgoings;
    (b) in retaining such sums and making provision for such matters as they think proper in connection with any of their functions;
    (c) subject to the foregoing paragraphs of this subsection and to any scheme made under section 3 below, in making payments for such purposes as are mentioned in section 1(1) of this Act.
previous section contents continue
House of Commons home page Houses of Parliament home page House of Lords home page search page enquiries

© Parliamentary copyright 1998
Prepared 30 June 1998