|
|
Advances from the Central Fund to the Board.
|
12.—(1) The Minister for Finance may, subject to the limitations imposed by this section, advance out of the Central Fund or the growing produce thereof to the Board as and when requested so to do by the Board all such sums (not exceeding in the aggregate the amount hereinafter mentioned) as the Minister for Industry and Commerce shall from time to time certify to be reasonably and properly required by the Board for any purpose arising under this Part of this Act.
|
|
| |
(2) The total amount of the advances to be made to the Board under this section out of the Central Fund or the growing produce thereof shall not exceed the sum of five hundred and thirty thousand pounds.
|
|
| |
(3) The Minister for Finance may, for the purpose of providing for the advance of sums out of the Central Fund under this section, or for the repayment to that Fund of all or any part of the sums so advanced, or for paying off any securities issued under this section so far as such payment is not otherwise provided for, borrow money by means of the issue of such securities as he thinks proper, and all sums so borrowed shall be paid into the Exchequer.
|
|
| |
(4) The principal of and interest on all securities issued under this section shall be charged on and payable out of the Central Fund or the growing produce thereof.
|
|
| |
(5) The sums to be advanced under this section shall be expended by the Board solely for the purpose of the scheduled works or the doing of anything which the Board is authorised by this Part of this Act to do.
|
