3(1)The Secretary of State may make grants to a college council in respect of any expenditure incurred by them in pursuance of their functions under this Part of this Act in connection with the transfer of the management of their college from the education authority to the board of management.
(2)Grants made under this paragraph may be made subject to such conditions as the Secretary of State thinks appropriate and such conditions—
(a)may relate to any time, whether before or after the payment of the grant; and
(b)may be imposed before, after or at the time the grant is made.
(3)The terms and conditions on which the Secretary of State may make any grants under this paragraph may include in particular conditions—
(a)enabling him to require the repayment, in whole or in part, of sums paid by him if any other condition subject to which the sums were paid is not complied with; and
(b)requiring the payment of interest in respect of any period during which a sum due to him in accordance with any other condition remains unpaid,
but shall not relate to the application by the college council to which the grant is made of any sums derived otherwise than from the Secretary of State.
(4)A condition imposed in pursuance of sub-paragraph (2) above shall not have effect as regards anything done, or omitted to have been done, before the date the condition was imposed.