(1)Subject to the provisions of this section, the Ministry, with the approval of the Ministry of Finance, may give to the following persons assistance by way of grant in respect of expenses incurred—
(a)by any person improving, maintaining or managing a harbour or carrying out harbour operations or proposing to do any of those things, in executing works for the construction, improvement, maintenance or management of the harbour, in executing works required for the carrying out of harbour operations or in acquiring plant or equipment so required;
(b)by a harbour authority which is doing any of those things or proposes to do them, in acquiring land required for the purposes of the harbour or an extension thereof.
(2)The Ministry, with the approval of the Ministry of Finance, may give to a harbour authority assistance by way of grant to enable it to pay the whole or part of a sum due by way of payment of interest on a loan.
(3)A grant under this section may be made on such terms and conditions (including conditions for repayment in specified circumstances and conditions by virtue of which the Ministry may participate in the profits or income of the authority) as the Ministry may think fit to impose.