In this Act—

• “acounting year” means, F1. . . a period of twelve months ending with the 31st December in any year;

• “the appointed day” means the day appointed by the Minister under section 1(1);

• “the Board” means the Crown Agents Holding and Realisation Board;

• F1. . .

• “the Crown Agents” means the body corporate established by section 1;

• F1. . .

• “functions” includes powers and duties;

• “the Minister” means the Minister of Overseas Development;

• “pension”, in relation to any person, means a pension, whether contributory or not, of any kind whatever payable to or in respect of him, and includes an allowance or a gratuity so payable (whether on retirement or otherwise) and a return of contributions to a pension fund or of insurance premiums, with or without interest or any other addition;

• “performance”, in relation to functions, includes the exercise of powers as well as the performance of duties, and “perform” shall be construed accordingly;

• “regulations” means regulations made by the Minister with the approval of the Treasury;

• F1. . .

• “subsidiary” shall be construed in accordance with F2section 736 of the Companies Act 1985or F3Article 4 of the Companies (Northern Ireland) Order 1986, and “wholly owned subsidiary” shall be construed in accordance with F4F5section 736(2)of the Companies Act 1985or F6F7Article 4(2)of that Order of 1986;

• “the unincorporated Agents” has the meaning given by section 1(2)(b).

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Any provision of this Act conferring a power to give directions or instructions shall be construed as imposing, on any person to whom directions or instructions are given thereunder, a duty to comply with those directions or instructions.