38. (1) Funding that is provided by An tÚdarás to a funded body under section 37 shall be paid in such manner, and subject to such conditions, as the Chief Executive Officer specifies in writing to the body.

(2) The conditions, referred to in subsection (1), that a funded body in receipt of funding under section 37 shall comply with shall be consistent with the objects and functions of An tÚdarás provided for in this Act and may include a requirement on the body—

(a) to provide financial and other information to the Chief Executive Officer,

(b) to use the funding in a cost effective and beneficial manner,

(c) to operate according to standards of good governance,

(d) to comply with the guidelines, codes and policies issued by An tÚdarás under section 143,

(e) to comply on a continuous basis with the funding framework,

(f) to comply with financial requirements,

(g) to comply with this Act and regulations made thereunder, and

(h) to comply with such other conditions as may be determined, with the approval of the Board, by the Chief Executive Officer.