37AA Grants by Secretary of State to development corporation.

1

For the purpose of enabling a development corporation—

a

to meet expenditure properly chargeable to capital account and incurred or to be incurred in providing, or in making contributions towards the cost to others of providing, any of the facilities specified in subsection (2) below, or

b

to make good to revenue account sums applied in meeting liabilities so chargeable and arising out of the provision of any of those facilities,

the Secretary of State may, out of money provided by Parliament, make grants to the corporation of such amount as may be approved by the Treasury.

2

The facilities referred to in subsection (1) above are—

a

roads, paths, bridges and car parks;

b

public open spaces, recreation grounds, playgrounds and landscaping;

c

meeting halls and assembly rooms; and

d

any other facilities similar to those specified in paragraph (a), (b) or (c) above.