9Regional grants
(1)For the purpose of assisting the Board in moderating contraction of the coal mining industry in Great Britain, the Secretary of State, having regard to the fact that the industry is heavily concentrated in assisted areas, may with the approval of the Treasury make, out of moneys provided by Parliament, grants to the Board during any of the financial years 1974-1976 of such amount as, subject to the next following subsection, he may consider requisite for that purpose.
(2)The aggregate amount of the grants made by the Secretary of State under this section shall not exceed £210 million.
(3)Grants under this section may be made subject to such conditions as the Secretary of State with the approval of the Treasury may determine.
(4)In this section “the coal mining industry” means the aggregate of the activities falling within the heading numbered 101 (coal mining) in Order II in the Standard Industrial Classification as defined by section 6(2) of the [1972 c. 63.] Industry Act 1972, and “assisted area ” means an assisted area as so defined.