Application of revenues

(1) The revenue of the Corporation shall be applied for the purposes authorized by this Act in relation to the functions, powers and responsibilities of the Corporation, and also to meet the following heads of expenditure, (a) reimbursement to the Government of all sums certified by the Minister as having been borrowed by the Government for the purposes Corporation and the repayment of which is outstanding at the commencement of this Act; the arrangements for reimbursing such sums shall be such as may be determined by the Minister; (b) repayment of overdrafts, if any, on current (c) interest on loans; 28 (d) sinking fund on loan redemption; (e) payment to the of any consideration for the transfer of property provided by section 20; (f) repairs and maintenance of buildings and equipment and other current expenses; and (g) any other expenditure approved by the Minister. (2) Any excess of the revenues of the Corporation for any financial year over the total sums chargeable by the Corporation to revenue accounts for that year, including in such sums (without prejudice to the generality of that expression) sums credited under the next following section to the reserve fund of the Corporation, shall be applied by the Corporation in such manner as the Minister, after consultation with the Chairperson of the Board, may direct.