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Transport Act 1978

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This is the original version (as it was originally enacted).

18Capital grants

(1)The Secretary of State may, with the approval of the Treasury, out of money provided by Parliament make grants to the National Freight Corporation in respect of any expenditure of a capital nature incurred or to be incurred during the period 1st July 1978 to 31st December 1981 by National Carriers Limited or any of its subsidiaries.

(2)Any grants under this section shall be made on such terms and conditions as the Secretary of State may with the approval of the Treasury determine; and the amounts of the grants shall be determined so that—

(a)the amount for the year 1980 is less than that for the year 1979, and the amount for the year 1981 is less than that for the year 1980; and

(b)the aggregate amount of the grants does not exceed £15 million.

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