(1)With a view to promoting the construction, maintenance and management of camps of a permanent character, payments may, with the consent of the Treasury, be made out of moneys provided by Parliament to each of two companies recognised for the purposes of this section, one for England and Wales and one for Scotland, being companies not trading for profit the objects of which include the construction, maintenance and management of such camps; and the companies so recognised are hereinafter referred to as recognised companies.
(2)The said companies shall be recognised, and such payments as aforesaid shall be made to them, by the appropriate Minister.
(3)Payments made under this section may be by way of grant or loan and shall be made upon such terms and conditions as may be determined by the appropriate Minister with the consent of the Treasury:
Provided that the sum of the grants made under this section and of the amounts outstanding in respect of the principal of any loans made thereunder shall not at any time exceed in the aggregate one million two hundred thousand pounds.
(4)In this section the expression “the appropriate Minister”, . . . F1, in relation to the company recognised for Scotland and payments made to that company, means the [F2Secretary of State].
(5)All sums received in repayment of the principal of any loan made under this section or in respect of any interest on any such loan shall be paid into the Exchequer.
Textual Amendments
F1Words spent
F2Words substituted by virtue of Reorganisation of Offices (Scotland) Act 1939 (c. 20), s. 1(6)(b)