8Special research grants

8 Special research grants

(1) In relation to each university specified in Column 1 of Schedule 3, there is payable to the State in which the university is situated, for the purpose of financial assistance in relation to research expenses of the university in respect of a year to which this Act applies, the amount specified in Schedule 3 in relation to the university and to that year. (2) Financial assistance is granted to a State under subsection (1) in relation to a university in respect of a year to which this Act applies on the conditions that:

(a) the State will pay each amount of that financial assistance received by it to the university without undue delay;

(b) the State will ensure that the amount expended by the university for the purpose of meeting the research expenses of the university in respect of that year, being amounts expended before 1 January next following the end of that year or expended on or after that date in respect of commitments entered into before that date, is not less than the sum of the amounts of financial assistance paid to the State under this section in relation to the university; and

(c) the State will ensure that the university furnishes to the Commission, not later than 30 September next following the expiration of that year, a statement by a qualified auditor, in accordance with a form approved by the Commission, as to the expenditure of the university for the purpose of meeting the research expenses of the university in respect of that year, being expenditure that occurred before 1 January next following the end of that year or that occurred on or after that date in respect of commitments entered into before that date.