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(1)The Ministry of DevelopmentF1 (in this Act referred to as “the Ministry” ), with the approval of the Ministry of Finance, may, out of moneys provided by Parliament, make grants to the Northern Ireland Transport Holding Company (in this Act referred to as “the Holding Company” ) for the purpose of enabling the Holding Company to discharge obligations transferred to it by section 68 of the Transport Act (Northern Ireland) 1967 [1967 c.37] in respect of pensions and compensation to former employees of the Ulster Transport Authority (in this Act referred to as “the Authority” ).
(2)Grants under subsection (1) shall consist of—
(a)a sum not exceeding two million pounds in respect of the liabilities incurred by the Holding Company on or before 31st March 1971 in meeting its obligations as aforesaid; and
(b)such further sums as the Ministry, with the approval of the Ministry of Finance, may determine to be necessary to enable the Holding Company to discharge liabilities incurred by it after 31st March 1971 in meeting its obligations as aforesaid.
(3)The Holding Company shall make available to the Ministry such documents and records and shall furnish to the Ministry such information as the Ministry may reasonably require for the purposes of its functions under this section.
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