18Total approved capital of licensees

18 Total approved capital of licensees

(1) The Minister may, by notice in writing to the Chairman or acting Chairman, specify the total amount that the Board may approve under subsections 21(1) and 38(2) as approved capital of licensees in any financial year. (2) The Minister may, after giving a notice under subsection (1), by another notice or other notices in writing to the Chairman or acting Chairman, specify an additional amount or amounts that the Board may approve under subsections 21(1) and 38(2) as approved capital of licensees in the financial year to which the first‑mentioned notice relates. (3) In any financial year the aggregate of: (a) any amounts approved by the Board under subsection 21(1) as approved capital of licensees; and (b) any amounts by which such capital is increased by the Board under subsection 38(2); shall not exceed the aggregate of the amount specified by the Minister in any notice under subsection (1) in relation to that financial year and the additional amount or amounts specified by the Minister in any notice or notices under subsection (2) in relation to that financial year. (4) If this Act comes into operation on a day other than the first day of a financial year, a reference in this section to a financial year, in relation to the financial year in which this Act comes into operation, is a reference to that part of that financial year during which this Act is in force.