31.— (1) Subject to subsection (2), the Minister, for a financial year of the Authority, shall—

(a) determine the maximum amount of net expenditure that may be incurred by the Authority for that financial year, and

(b) notify the Authority in writing of the amount so determined not more than 21 days after the publication by the Government of the Estimates for Supply Services for that financial year.

(2) If the Minister considers it appropriate in any particular case, a determination under this section may relate to the period (other than the financial year of the Authority) as the Minister may specify in the relevant notification under this section.

(3) The Minister may amend a determination under subsection (1) by varying the maximum amount of net expenditure that the Authority may incur for a particular financial year and, if the Minister varies that amount, the Minister shall notify the Authority in writing of the amendment as soon as may be and the determination applies and has effect as so amended.