s 4
(1) Subject to subsection (2) of this section, the Secretary of State may, after consultation with the Board, give to the Boardβ (a) directions of a general character as to the performance of the Boardβs functions in relation to any matter appearing to the Secretary of State to affect the national interest ; (b) directions requiring the Board to dispose of any shares or stock or other financial interest held by the Board in any undertaking specified in the directions ; (c) directions requiring the Board to secure that any relevant body specified in the directionsβ (i) discontinues, or restricts to an extent specified in the directions, any of the activities of the body which are so specified, or (ii) disposes of such part of the undertaking of the body as is so specified, or (iii) disposes of any property of the body which is so specified ; and in paragraph (c) of this subsection β relevant body β means any undertaking of which all the issued share capital is held, directly or through a nominee, by the Board. (2) The Secretary of State shall not give directions in pursuance of paragraph (b) or (c) of the preceding subsection unless he is satisfied that he will not thereby impede or prevent the proper discharge of the Boardβs duties. (3) The powers to give directions conferred by paragraphs (b) and (c) of subsection (1) of this section shall be exercisable by statutory instrument and a draft of any statutory instrument made by virtue of this subsection shall be laid before Parliament. Provision of funds etc for the Board = Β§,β(1) The Board may, with the consent of or in accordance with a general authorisation given by the Secretary of State, borrow temporarily by overdraft or otherwise such sums in sterling or other currencies as the Board may require for performing its functions. (2) The Board may borrow from the Secretary of State, or may with his consent borrow by the issue of stock or borrow in sterling from the Commission of the European Communities or from the European Investment Bank, such sums as the Board May require for capital purposes or for fulfilling a guarantee entered into by the Board. (3) The Board may, with the consent of the Secretary of State, borrow any sums in currency other than sterling which are required by the Board for performing its functions. (4) The Secretary of State shall not give consent or an authorisation in pursuance of the preceding provisions of this section except with the approval of the Treasury. (5) Any sums which were borrowed by either of the corporations under section 7 of the Act of 1967 from a person other than the Board or the other corporation and in respect of which the liability became a liability of the Board by virtue of the dissolution order shall be deemed to have been duly borrowed by the Board in pursuance of this section.