Section 3 — The Delivery Authority

(1) The Sponsor Body must form a company limited by guarantee to exercise the functions conferred on the company by this Act.

(2) The constitution of the company must include provision to ensure that the only member of the company, and its only guarantor, is the Sponsor Body.

(3) The company formed under subsection (1) is referred to in this Act as “the Delivery Authority”.

(4) The Delivery Authority's duties are—

(a) to formulate proposals relating to Palace restoration works, as required by the Sponsor Body under section 2(2)(e), and

(b) to carry out the Parliamentary building works in line with the requirements of the Sponsor Body.

(5) The Delivery Authority may do whatever it considers appropriate for the purposes of the duties under subsection (4), provided that it acts in accordance with—

(a) the agreement entered into by the Sponsor Body and the Delivery Authority under section 4, and

(b) the Delivery Authority's memorandum and articles of association.

(6) In performing the duties under subsection (4) the Delivery Authority must have regard to the matters mentioned in section 2(5).

(7) Schedule 2 contains further provision about the Delivery Authority.