| || (" .--(1) Culture Online may with a view to funding any expenditure incurred, or to be incurred, by it under this Part--
(a) form or take part in forming, or acquire interests in, one or more bodies corporate which (or each of which) has as its main object or objects one or more of those mentioned in subsection (2), and
(b) enter into contracts or other arrangements (whether legally binding or not) relating to any of the activities mentioned in paragraphs (a) to (d) of that subsection.
(2) The objects are--
(a) the production, or publication, (whether in England or elsewhere) of material relating to cultural matters;
(b) the production (whether in England or elsewhere) of other goods relating to cultural matters;
(c) the sale, or exploitation, (whether in England or elsewhere) of--
(i) material or goods relating to cultural matters, or
(ii) intellectual property, or other intangible assets, connected with cultural matters;
(d) the provision (whether in England or elsewhere) of services relating to cultural matters or to any of the matters mentioned in paragraph (a), (b) or (c).
(3) For the purposes of subsection (2), references to "cultural matters" are to--
(a) the knowledge and appreciation of culture, history and science;
(b) the provision of access to objects, events, places and other things of cultural, historic or scientific interest; and
(c) pursuits relating to matters of such interest, and participation in events of such interest.
(4) The powers conferred on Culture Online by subsection (1) may not be exercised except with the consent of the Secretary of State.
(5) Consent may be given--
(a) either in respect of a particular case or in respect of a class of cases; and
(b) subject to such conditions as the Secretary of State considers appropriate.
(6) Culture Online may--
(a) dispose of any interest in a body corporate held by virtue of this section,
(b) exercise rights conferred by the holding of any such interest, or
(c) provide financial or other assistance to or in respect of any body corporate in which an interest is held by virtue of this section (including assistance by way of guarantee of its obligations).
(7) But the powers conferred by subsection (6), in relation to a body corporate, are subject to any conditions imposed in a consent relating to that body given for the purposes of subsection (4).
(8) In this section--
body corporate" includes a body corporate registered outside the United Kingdom;
pursuits" has the same meaning as in section 25.
(9) This section is without prejudice to any power of Culture Online to undertake anything mentioned in subsection (1), (2) or (6) by virtue of section 26.")
|Additional powers to fund expenditure.|