|
|
Loans in amplification of grants.
|
8.—(1) Whenever the Minister is satisfied that a person to whom he has made a grant under this Act is so circumstanced that he is not able to execute the work towards which such grant was made to him without further monetary assistance, the Minister may, subject to the provisions of this Act and regulations made thereunder, issue to the Commissioners a certificate in the prescribed form that such person may be granted a loan under this Act of such sum, not exceeding the amount of such grant, as the Minister shall think proper and shall specify in such certificate.
|
|
| |
(2) Whenever the Minister issues to the Commissioners a certificate under the foregoing sub-section, the Commissioners shall, subject to the provisions of this Act and regulations made by the Minister for Finance under this section, make to the person named in such certificate a loan of the amount specified in such certificate and repayable to the Commissioners in accordance with the said regulations, with interest at such rate as may be fixed by the Minister for Finance.
|
|
| |
(3) The Minister for Finance may make regulations in relation to all or any of the following matters, that is to say:—
|
|
| |
(a) the issue of loans made under this section, including the issue of such loans in one or more instalments;
|
|
| |
(b) the making of charging orders and the form of such orders;
|
|
| |
(c) the repayment of such loans, including the time or times at which and the instalments in which such repayment is to be made;
|
|
| |
(d) conditions for securing the due application of such loans to the purposes for which such loans are made.
|
