# Railways and Transport Safety Act 2003, Paragraph 27


The Secretary of State may make a payment to the Authority—
(a) by way of grant (subject to such conditions, if any, as the Secretary of State may specify), or
(b) by way of loan (on such terms, as to interest or otherwise, as the Secretary of State may specify).

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Source: https://www.legislation.gov.uk/ukpga/2003/20/schedule/4/paragraph/27 (the official version)
Page: https://openlegislation.uk/railways-and-transport-safety-act-2003/schedule-4/paragraph-27
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.