44Power of Ministry to make grants or advances to new town commissions.N.I.
(1)For the purpose of enabling a new town commission to meet liabilities properly chargeable to their capital account relating to their development functions (including the provision of working capital), the Ministry may, subject to subsection (3), make to the new town commission advances of such amounts repayable over such periods and on such terms as may be approved by the Ministry of Finance.
(2)For the purpose of enabling a new town commission to meet any other expenditure, the Ministry may make grants to the new town commission of such amounts as may be approved by the Ministry of Finance.
(3)The aggregate amount of the advances made under subsection (1) shall not exceed [F1 fifty-five million pounds].