Grants in respect of certain capital expenditureU.K.
8(1)The obligations of the Corporation transferred by virtue of section 45 include any obligation to comply with terms and conditions attached to a grant made under section 18 of the M1Transport Act 1978 (grants in respect of capital expenditure by National Carriers Limited or its subsidiaries).U.K.
(2)For the reference in that section to the Corporation there shall be substituted, as from the appointed day, a reference to the successor company.
(3)In considering the exercise of his powers under that section in favour of the successor company, the Minister shall take into account any capital expenditure within that section not previously taken into account, including expenditure incurred before the appointed day; and the financial limits set by subsection (2) of that section shall apply in relation to such an exercise of the Minister’s powers as if grants made to the Corporation at any time before the appointed day had been made to the successor company at that time.
Marginal Citations