b'If a company were considered appropriate at some later stage to assist the development of the inter-authority trading venture, the powers to promote economic, social and environmental well-being contained at section 2 of the 2000 Act might assistbut only if the conditions for the use of those powers are followed. Well-being powers 5.7 The 2000 Act gave local authorities a wide and flexible power of first resort to undertake economic, social and environmental well-being. In England, but not in Wales, the 2011 Act repealed and replaced the well-being powers with a wider power of general competence (see Chapter 6).Interface of commercial trading powers with the 1970 Act 5.8 As noted above, the 1970 Act remains in force and local authorities have made, and continue to make, extensive use of these powers to provide goods and services to other authorities. Even before the current financial and political pressures on local authorities to make the best use of their assets, the 1970 Act enabled them to make use of surplus capacity and ensure economies of scale. However, the 1970 Act restricts the type of services provided, and the bodies with which it can trade. To date, no guidance has been provided as to when use of either Act is more appropriate, or on the extent to which designated public body status might be given to private sector bodies to trade with the public sector for certain limited purposes. A list of current designated public bodies is produced at 6.15 below to better assist local authorities with identifying when and how the 1970 Act powers might be utilised for inter-authority/public body trading. Where public bodies are not designated there may be little choice but to use section 95 and set up a trading company. Whether that is worth the cost and time involved will need to be explored on a case-by-case basis through the development of the business plan (also a requirement of the 2003 Act). Given the legislatures lack of interest in updating the list in more recent years, local authorities should always refer back to the relevant parent legislation establishing public bodies to determine whether they have been added to the list. 1970 Act v 2003 Act, section 95restrictions on use 5.9 Section 95 of the 2003 Act refers to acting for a commercial purpose. The section also contains a restriction that: 61'