30.—(1) The Department may make to—
Sub-para. (a) rep. by 2002 c. 1 (NI)
(b)anyF1. . . body or person specified in an order made, subject to affirmative resolution, by the Department with the consent of the Department of Finance and Personnel,
grants of such amount and on such terms and conditions (including conditions for repayment) as the Department may consider proper, for the purpose of enabling that body or person to stimulate or assist industrial enterprise, the development of industry or the provision of employment.
(2) If the Department is satisfied that a body or person to whom it has made a grant under paragraph (1) is unable to fulfil any written contract entered into or written offer or written undertaking made for the purpose mentioned in that paragraph, the Department may make such arrangements as it considers expedient for the purpose of safeguarding the interests of any other person who has entered into a written contract with that body or person or has incurred liabilities in pursuance of a written undertaking or written offer made by that body or person.
31.—(1) The Department shall have power to accept, in accordance with arrangements approved by the Department of Finance and Personnel, the transfer to the Department of any publicly owned securities on such terms and conditions as may be agreed to in relation to the transfer.
(2) For the purposes of this Article securities are publicly owned if they are held—
(a)by or on behalf of the Crown; or
(b)by a company all of whose shares are held by or on behalf of the Crown or by a wholly owned subsidiary of such a company; or
(c)by any corporation constituted by or under any statutory provision under which an industry is carried on by that corporation under national ownership or control; or
(d)by a wholly owned subsidiary of any such corporation.
(3) In this Article “wholly owned subsidiary” has the meaning[F2 given by Article 4(2) of the Companies (Northern Ireland) Order 1986].
Art. 32 rep. by 2002 c. 1 (NI)
Art. 33 rep. by 2002 c. 1 (NI)
34.—(1) The expenses incurred by the Department or by any other Northern Ireland department under this Order shall, except as otherwise provided by this Article, be defrayed out of moneys appropriated by Measure.
Paras. (2), (3) rep. by 2002 c. 1 (NI)
Para. (4) rep. by 1988 NI 6
(5) Where any Northern Ireland department recommends that the whole or any part of the principal or interest of any loan made under Part III[F3 by that department] should be written off by reason that the same is not likely to be recovered and the Department of Finance and Personnel directs that the amount shall be written off, such amount shall be treated as a loss to the Consolidated Fund, but nothing in this paragraph shall affect the liability of any person to pay to such department the principal of, or interest on, any such loan or part thereof.
Paras. (6), (7) rep. by 2002 c. 1 (NI)
(8) Any amount which is repayable to any Northern Ireland department under this Order may, without prejudice to any other means of recovery, be recovered by deduction from any grant or other sum payable out of moneys appropriated by Measure or by that or any other Northern Ireland department to the undertaking from which, or the person from whom, the amount is due, and that grant or other sum shall be abated accordingly.
Art. 35 rep. by 2002 c. 1 (NI)