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The Wales Tourist Board (Transfer of Functions to the National Assembly for Wales and Abolition) Order 2005

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4.  After section 4 (Execution of particular tourist projects) add—

“4A  Execution of particular tourist projects: Wales

(1) The National Assembly for Wales shall have power—

(a)to give financial assistance for the carrying out of any project which in its opinion will provide or improve tourist amenities and facilities in Wales;

(b)to carry out any such project as aforesaid.

(2) Financial assistance under subsection (1) of this section may be given by way of grant or loan or, if the project is being or is to be carried out by a company incorporated in Great Britain, by subscribing for or otherwise acquiring shares or stock in the company or by any combination of those methods.

(3) In making a grant or loan under subsection (1)(a) of this section the National Assembly for Wales may impose such terms and conditions as it thinks fit, including conditions for the repayment of a grant in specified circumstances; and Schedule 2 to this Act shall have effect for securing compliance with conditions subject to which any such grant is made.

(4) The National Assembly for Wales shall not dispose of any shares or stock acquired by it by virtue of this section except after consultation with the company in which the shares or stock are held.”.

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