40. (1) A funded body shall provide to the Chief Executive Officer such information as he or she may require in relation to funding, including—

(a) the expenditure of the funding provided to the body by An tÚdarás under section 37, and

(b) its compliance with the conditions subject to which that funding was provided to it,

in such form and manner, and at such times, as the Chief Executive Officer may require.

(2) If a funded body does not provide to the Chief Executive Officer the information required under subsection (1), the Chief Executive Officer shall request the funded body, by notice in writing, to provide to him or her such information as is specified in the notice and within such period as is specified therein, and the funded body shall comply with any such request.

(3) The Chief Executive Officer shall assess the information provided by a funded body under this section, and any other relevant information in his or her possession, to determine whether the funded body is in compliance with the conditions subject to which the funding was provided to the body.

(4) If the Chief Executive Officer is of opinion, following an assessment under subsection (3), that there are serious deficiencies regarding the continued compliance by the funded body concerned with the conditions subject to which the funding was provided to that body, the Chief Executive Officer shall so inform the body in writing.

(5) The powers of the Chief Executive Officer under this section are without prejudice to his or her powers under sections 64 to 68.