Eirgrid, Electricity and Turf (Amendment) Act 2022
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Financial support for specified purpose | ||
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7. (1) The Minister may, with the consent of the Minister for Public Expenditure and Reform, out of monies provided by the Oireachtas, provide such financial support to EirGrid as the Minister considers to be necessary to achieve the specified purpose. | ||
(2) Financial support under subsection (1) may be provided in such form and manner and on such terms and conditions as may be agreed between the Minister and EirGrid with the consent of the Minister for Public Expenditure and Reform. | ||
(3) EirGrid shall only use financial support provided to it under subsection (1) for the specified purpose. | ||
(4) Any income or revenue received by EirGrid in connection with electricity generation plant or an agreement referred to in section 4 (2) shall only be used for the specified purpose or for the making of distributions (within the meaning of section 123 of the Companies Act 2014 ) to the shareholders of EirGrid as determined by the directors of EirGrid in accordance with law. | ||
(5) Any amount received by the Minister from EirGrid in accordance with subsection (4) shall be paid into or disposed of for the benefit of the Exchequer in such manner as the Minister may direct, with the prior approval of the Minister for Public Expenditure and Reform. |