(1)The Secretary of State with the approval of the Treasury (as respects England) or the National Assembly for Wales (as respects Wales) may make grants to operators of eligible bus services towards their costs in operating those services.
(2)The Secretary of State with the approval of the Treasury (as respects England) or the National Assembly for Wales (as respects Wales) may make provision by regulations as to the method of calculation of grants.
(3)Subject to the provisions of any such regulations, grants under this section shall be of such amount and subject to such conditions (including conditions requiring their repayment in specified circumstances) as may be determined by—
(a)the Secretary of State with the approval of the Treasury (as respects England), or
(b)the National Assembly for Wales (as respects Wales).
(4)A determination under subsection (3) may be made either generally or in relation to particular cases or classes of case.
(5)In this section “eligible bus services” means bus services of a class (or using vehicles of a class) prescribed by regulations made by the Secretary of State (as respects England) or the National Assembly for Wales (as respects Wales).
(6)Section 92 of the [1965 c. 25.] Finance Act 1965 (grants towards duty charged on bus fuel) and section 111 of the [1985 c. 67.] Transport Act 1985 (unregistered and unreliable local services: reduction of fuel duty grant) cease to have effect.