Cap. 202 Art. 8Functions of the Corporation. Cap. 53. Cap. 159.

(1) Without prejudice to any other provision of this Act, it shall be the function of the Corporation -

(a) to investigate, formulate and carry out projects for the establishment, continuation, expansion or improvement of industrial enterprises conducive to development of the economy of Malta;

(b) to encourage and promote the participation of private capital, both domestic and foreign, in the development of manufacturing, tourist, agricultural, fishing and other industrial enterprises;

(c) to render assistance and advice in the formulation and execution of industrial projects by providing technical assistance on managerial, engineering, accountancy and other matters requiring technical skill, and to encourage the development of management and technical skills;

(d) to hold and administer, and if and when it thinks fit to realise, the assets it may hold from time to time;

(e) to perform the functions devolving on the Corporation pursuant to the Encouragement of New Industries Act and the Aids to Industries Ordinance;

(f) to act by agreement with the Government as agent for implementing the policy of the Government in respect of grants and of loans on special terms to industrial enterprises;

(g) to advise the Minister on any matter relating to the operation and purposes of this Act which the Minister may from time to time refer to the Corporation.

(2) In the exercise of its functions under this Act, the Corporation may -

(a) make all forms of investment, including direct ownership of industrial enterprises, grant loans and advances to industries, subscribe, underwrite or deal in shares and debentures of companies, guarantee loans made or assumed at fair risk;

(b) acquire, sell or otherwise dispose of or lease land for the purpose of economic development;

(c) lay out or lay out and develop industrial estates for sale or other manner of disposal or lease;

(d) undertake feasibility studies, including financial and economic analysis of projects, in its search for new industries or in the improvement or further development of existing industrial enterprises;

(e) generally do all such things as may be incidental or conducive to the performance of its functions.

(3) The Corporation may, with the approval of the Minister, exercise its functions under this Act through the agency of other persons, and may act as agents or otherwise on behalf of other persons.