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Annual grant to Board.
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6.—(1) Subject to subsection (2) of this section, the Minister shall in the financial year of the Board beginning on the 1st day of April, 1964, and in each subsequent financial year of the Board make to the Board, out of moneys provided by the Oireachtas, a grant of two million pounds.
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(2) The Minister may, with the concurrence of the Minister for Finance, in the financial year of the Board beginning on the 1st day of April, 1969, and in every fifth subsequent financial year of the Board by order vary the amount of the grant payable under subsection (1) of this section.
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(3) The Board shall, out of each grant to it under this section, defray the interest and sinking fund charges on the transport stock of the Board and may apply the balance of the grant for the purposes of its undertaking in such manner as it thinks fit.
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(4) Nothing in subsection (3) of this section shall operate to affect or diminish the obligation imposed by subsection (3) of section 30 of the Act of 1950 to advance out of the Central Fund or the growing produce thereof all sums required by the Minister for Finance to meet sums which may become payable under any guarantee given by him under that section.
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(5) Where an order is proposed to be made under this section, a draft of the order shall be laid before each House of the Oireachtas and the order shall not be made until a resolution approving of the draft has been passed by each such House.
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