Industrial training boards
Financial provisions20
1
The Department may, with the approval of the Department of Finance and Personnel, make grants and loans to an industrial training board.
2
The Department may give to an industrial training board such directions as the Department thinks fit for the purpose of securing—
a
that the board's expenditure for a purpose specified in the directions does not exceed an amount so specified; and
b
that the whole or part of any grant or loan made to the board in pursuance of paragraph (1) is used only for the purposes specified in the directions;
and the board shall comply with the directions.
3
An industrial training board may enter into agreements with persons for the making by them of payments to the board in respect of the exercise by the board of any of its functions.
4
An industrial training board may, with the consent of the Department or in accordance with the terms of any authority given by the Department, borrow temporarily from any other person by way of overdraft or otherwise such sums as the board may require.
5
An industrial training board may give security for any money borrowed by the board.
6
An industrial training board shall not invest any money otherwise than in such manner as the Department may approve.