Electricity (Supply) (Amendment) Act, 1954

Advances to the Board out of the Central Fund.

5.—(1) In addition to the borrowing powers conferred by sections 3 and 4, the Minister for Finance, on the recommendation of the Minister, shall, subject to subsection (3) of section 2, have power to advance moneys to the Board out of the Central Fund or the growing produce thereof for purposes other than the electrification of rural areas.

(2) There may be attached to the making of an advance the condition that the moneys shall be utilised only for the purpose of a programme of capital works approved by the Minister.

(3) After the passing of this Act no further advances shall be made under section 38 of the Electricity (Supply) (Amendment) Act, 1945 (No. 12 of 1945).