The National Research Development Corporation

1 Constitution. _cross-notes

(1) There shall continue to be a body corporate called the National Research Development Corporation (in this Act referred to as “ the Corporation ”).

(2) The Corporation shall consist of a chairman and a managing director appointed by the [^F1 Secretary of State ^F1] (in this Act referred to as “ the Minister ”), and such number of other members so appointed, not being less than four or more than twelve, as the Minister may from time to time determine.

(3)The members of the Corporation shall be appointed from among persons appearing to the Minister qualified as having had experience, and shown capacity, in matters relating to science, technology, industry, finance, administration or the acquisition and disposal of rights in inventions.

(4)The provisions of the Schedule to this Act shall have effect with respect to the remuneration of members of the Corporation out of the funds of the Corporation, as to the appointment and tenure and vacation of office of the said members, and otherwise in relation to the Corporation.

^F22 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F33 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F44 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F5 . . .

^F65 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F76 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F87 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F98 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F109 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F1110 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Miscellaneous and supplementary

^F1211 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F1312 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F1413 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

14 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F1515 Short title, interpretation, repeals, savings and commencement.

(1)This Act may be cited as the Development of Inventions Act 1967.

(2)In this Act, unless the context otherwise requires—

• “the Corporation” means the National Research Development Corporation;

• “invention” includes any new process or new technique and shall be construed without regard to whether or not a patent has been or could be granted;

• “the Minister” means the [^F16Secretary of State^F16] .

^F17(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F17(4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F17(5). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F17(6). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F17(7). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F17(8). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

SCHEDULE The National Research Development Corporation

1 The Corporation shall have a common seal.

2 (1) The Minister shall have power, exercisable by statutory instrument, to make regulations with respect to—

(a) the appointment of the members of the Corporation and their tenure and vacation of office;

(b) the execution of instruments and the proof of documents purporting to be executed, issued or signed by the Corporation or a member or officer thereof.

(2) Subject to the provisions of regulations under sub-paragraph (1) of this paragraph, the Corporation shall have power to regulate their own procedure, including the manner in which matters subject to the determination of the Corporation are to be determined by or on behalf of the Corporation.

(3) Regulations made under this paragraph shall be subject to annulment in pursuance of a resolution of either House of Parliament.

3 The validity of any proceeding of the Corporation shall not be affected by any vacancy among the members thereof or by any defect in the appointment of a member thereof.

^F18 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F19 5 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F20 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F21 7 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

^F22 8 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

9 It is hereby declared that nothing in this Act exempts the Corporation from liability to any tax, duty, rate, levy or other charge whatsoever, whether general or local.