109 Grants to the Board.U.K.
After section 21 of the M1Transport Act 1962 (Treasury guarantees) there shall be inserted—
“21A Grants to the Railways Board.
(1)The Secretary of State may, with the approval of the Treasury, make to the Railways Board grants of such amounts, at such times and in such manner, as he may with the approval of the Treasury determine—
(a)towards the expenditure of that Board; or
(b)without prejudice to paragraph (a) of this subsection, for the purpose of enabling that Board to make any payment (whether by way of repayment of principal or payment of interest or of any other description) in respect of any loan made to them under section twenty of this Act.
(2)Grants under this section may be made subject to such conditions as the Secretary of State may with the approval of the Treasury determine.
(3)Any sums required by the Secretary of State for making grants under this section shall be paid out of money provided by Parliament.
(4)This section is without prejudice to any other power to make grants to the Railways Board.”.
Marginal Citations