24.— (1) A chief executive of an education and training board may prepare and submit a proposal to the board for the establishment of, or the provision of assistance in the establishment of, a scholarship by the board.

(2) A proposal under subsection (1) for the establishment of a scholarship by the board shall specify—

(a) the amount and tenure of the scholarship, and

(b) any terms and conditions to be attached to the scholarship.

(3) A proposal under subsection (1) for the provision of assistance in the establishment of a scholarship shall specify—

(a) the amount and tenure of the scholarship,

(b) any terms and conditions to be attached to the scholarship, and

(c) the nature of the assistance to be provided by the board in the establishment of that scholarship.

(4) An education and training board shall, having considered a proposal under subsection (1)—

(a) with the approval of the Minister establish, or assist in the establishment of, the scholarship in accordance with the terms and conditions of the proposal, or

(b) refuse to establish or assist in the establishment of the scholarship.