(1) The objects of the Institute of Marine Affairs as stated in an Act of Parliament, Ch. 37:01 in the Revised Laws of the Republic of Trinidad and Tobago as amended by Act No. 13 of 1990 are as follows:
(2) The Institute may enter into contracts with the Government or industrial or commercial enterprises in furtherance of the objects outlined above.
The functions of the Institute of Marine Affairs as stated in an Act of Parliament, Ch. 37:01 in the Revised Laws of the Republic of Trinidad and Tobago as amended by Act No. 13 of 1990 are as follows: