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Upon the submission to the Treasury of a scheme satisfactory to them for the erection by the Trustees of such a theatre as aforesaid on the site reserved to them for the purpose in accordance with the said arrangements, and for the equipment and management thereof, the Treasury may undertake to make, and may make out of moneys provided by Parliament, upon such terms and subject to such conditions as they think fit, such contributions to the funds of the Trustees as they think fit (not exceeding one million pounds) in respect of the cost of erecting and equipping the theatre in accordance with the scheme.
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