Provisions as to exercise of Corporation’s functions
5 Ministerial directions to Corporation.
(1)
The Minister may, after consultation with the Corporation, give to it directions of a general character as to the exercise and performance of its functions in relation to matters appearing to him to concern the public interest.
(2)
The power of the Minister to give directions to the Corporation under subsection (1) above shall extend to the giving to it of directions falling within subsection (3) below, notwithstanding that the directions may be of a specific character; but the Minister shall not give directions falling within paragraph (b) or paragraph (c) of that subsection except with the approval of the Treasury.
(3)
The directions referred to in subsection (2) above are directions—
(a)
as to the disposal of capital assets; or
(b)
as to the application of proceeds of such disposals; or
(c)
as to any matter relating to the establishment or management of the Corporation’s reserve fund mentioned in section 14 below, the carrying of sums to the credit of that fund or the application of that fund.