(1) A local authority may join in promoting a company to which it is intended that this Act shall apply and any local authority may become and be a member of a company to which this Act applies.

(2) When a local authority is a member of a company to which this Act applies, the right of voting and every other right or power incidental to such membership may be exercised on behalf of such local authority by one of their members or officers or any other person authorised in that behalf by them.

(3) A local authority which is a member of a company to which this Act applies may be a director of such company and in every such case the functions of the local authority as such director shall be performed by one of their members or officers or any other person authorised in that behalf by them.

(4) [deleted]