Air Navigation and Transport Act 2022
Advances and grants by Minister to company
64. The Act of 1993 is amended by the insertion of the following section after section 28:
“28A. (1) The Minister may, from time to time, with the consent of the Minister for Public Expenditure and Reform, advance or grant to the company out of moneys provided by the Oireachtas such sums as the Minister may determine for the purposes of expenditure by the company in the performance of its functions.
(2) The sums to be advanced or granted under subsection (1) shall be expended solely for the purpose and exercise of the functions conferred on the company by this Act or as the Minister may direct.
(3) The company shall pay to the Minister, on every sum advanced to it under this section, interest from the date of the advance of such sum until the same is repaid at such rate and in such manner as shall be appointed by the Minister at the time of the advance and at such rate as may be determined from time to time, and such rate of interest shall not at any time exceed that fixed by an order under section 20 of the Courts Act 1981.”.