Microenterprise Loan Fund Act 2012

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Grants to subsidiary.

5.— (1) The Minister shall make a grant of €10 million to the subsidiary out of moneys provided by the Oireachtas.

(2) The Minister may, in addition to the grant made in accordance with subsection (1), make such grant or grants to the subsidiary out of moneys provided by the Oireachtas as he or she considers appropriate provided that the aggregate of all grants made to the subsidiary in accordance with this subsection shall not exceed €15 million.

(3) For the avoidance of doubt, the subsidiary shall not be liable to repay to the Minister any moneys paid to it under this section.