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Amendment of section 4 of Principal Act.
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3.—Section 4 of the Principal Act (which relates to the powers and functions of the Board) is hereby amended by the insertion in subsection (4) after paragraph (b) of the following:
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“(bi) with the consent of the Minister given after consultation with the Minister for Industry and Commerce—
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(A) to take part with other persons in the formation of a body corporate or in a partnership or otherwise,
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(B) to form, or to purchase or take or sell shares in, a body corporate, and
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(C) to make, on such terms, if any, as it thinks proper, a grant to a body corporate in which it holds shares,
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for the purpose of establishing, developing or maintaining industries and productive schemes of employment in the Gaeltacht,
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(bii) to make, at its discretion and on such terms, if any, as it thinks proper, grants for the purpose of assisting persons to establish, develop or maintain in the Gaeltacht minor productive projects, provided that no such grant shall exceed two thousand pounds and that no such grant shall be made in respect of a project if a grant from An Foras Tionscal has been made in respect of that project,”.
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