Tourist Traffic Act, 1957

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Grants by the Board for interest charges on certain loans.

3.—(1) The Board may, at its discretion, make grants towards the payment of interest on loans obtained after the passing of this Act otherwise than under a guarantee given under Part III of the Act of 1952 and utilised for the construction, extension, modernisation or improvement of holiday accommodation.

(2) The aggregate amount of grants made by the Board under this section in any financial year shall not, when added to the aggregate amount of grants made by the Board under Part III of the Act of 1952 in that year, exceed seventy-five thousand pounds.