SCHEDULES

SCHEDULE 31 Urban Development Corporations: Finance etc.

Part II Finance

Government grants

3

1

The Secretary of State may (out of money provided by Parliament and with the Treasury’s consent) pay to a corporation, in respect of the exercise of its functions and in respect of its administrative expenses, such sums as he may (with the Treasury’s approval) determine.

2

The payment may be made on such terms as the Secretary of State (with the Treasury’s approval) provides.