ABSTRACT
The Industrial Reorganisation Corporation (IRC) began its work in the summer of 1966, holding its first Board meeting in June. This was almost six months before its existence was legitimised when the Royal Assent was given to the IRC Act of 1966, on 21 December. Sir Frank Kearton, Mintech's first choice for Chairman, had accepted the position and the intention to appoint him had been announced when the IRC White Paper was published in January 1966. The IRC Act provided that the members of the Corporation to have 'wide experience of, industry, technology, commercial or financial matters, administration or the organisation of workers', and it could certainly not be argued that the IRC Board fell in any way short of this requirement. Having determined which industries it should assist, the IRC was given the power to do anything, whether in the UK or overseas, which would help it to carry out the task.
