8. —(1) The functions of the Agency shall be to—

(a) procure, secure the provision of and to promote and facilitate the development, including the carrying out of construction or maintenance works, of the digital hub as a location for digital enterprises and related activities;

(b) formulate strategies to encourage individuals and enterprises engaged in digital content and related activities to locate in the digital hub;

(c) promote and facilitate the procurement of technical and communications infrastructure to attract digital enterprises to the digital hub;

(d) prepare a development plan in accordance with section 9 ;

(e) prepare estimates of the costs of implementation of the development plan and propose possible funding options;

(f) oversee and manage implementation of the development plan;

(g) consult with local community interests in or adjacent to the digital hub as part of the implementation of the development plan;

(h) enter into agreements with other persons in order to secure the development of the digital hub whether by means of a concession, joint venture, public private partnership or any other means;

(i) enter, where appropriate, into an agreement with a person who has arranged or provided funding for the carrying out of any part of the development of the digital hub.

(2) The Agency shall have all such powers as are necessary or expedient for the performance of its functions.

(3) The Agency may, with the consent of the Minister, enter into arrangements with other persons to perform on behalf of the Agency such of its functions as the Agency considers necessary.

(4) In performing its functions under subsection (1) the Agency shall consult with Enterprise Ireland, IDA and any other relevant body established by or under statute.

(5) The Agency may exploit commercial opportunities arising from its functions.

(6) The Agency may receive income (including any amount, right, interest, benefit or profit) arising from or make payments (or otherwise provide consideration) in respect of any of its functions referred to in subsection (1).

(7) Where an agreement or arrangement was entered into by Digital Media Development Limited on a date before the establishment day and was entered into in good faith, then the agreement or arrangement, as the case may be, shall have effect and be taken to have had effect when the agreement or arrangement was entered into.