Section 12 Undertakings

Any person whose application for a grant under this Scheme is approved by the Ministers may be required to give such undertaking as they may consider appropriate to the case, and in particular (but without prejudice to the generality of the foregoing) shall be required in any case—

(a)

during the control period, and as may be appropriate to the case—

(i)

to employ the vessel in respect of or in connection with which the application was made (hereinafter in this paragraph referred to as “the vessel”); or

(ii)

to take all reasonable steps to ensure its employment;

in the diligent and vigorous prosecution of the catching of sea fish to the satisfaction of the Ministers;

(b)

to insure the vessel and keep it insured against all marine risks and war risks during the control period in a sum approved by the Ministers, which shall be at least sufficient to ensure that in the event of total loss of the vessel there will be made available sufficient monies to meet the repayment of the grant or any part thereof which might be repayable at the date of the loss; and

(c)

to keep and make available for inspection by the Ministers at all reasonable times during the control period any books, records or other documents within the applicant’s possession or control necessary to enable the Ministers to satisfy themselves that any conditions of the grant have been complied with.