Industrial Development Act, 1969
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Grants by Authority for fixed assets leased. |
35.—(1) The Authority may make a grant on such terms and conditions as it thinks proper in respect of the cost of fixed assets which have been leased for the purpose of an industrial undertaking which conforms to the requirements of section 33 (3) of this Act. | |
(2) The amount of a grant under subsection (1) of this section shall not exceed 40 per cent of the cost of the fixed assets in the case of an industrial undertaking in a designated area or 25 per cent of the cost of the fixed assets in the case of an industrial undertaking elsewhere than in a designated area. | ||
(3) Where the Authority has made a grant under subsection (1) of this section, in respect of the cost of fixed assets, it may make a further grant, on such terms and conditions as it thinks proper, in respect of the cost of those assets if the undertaking conforms to the requirements of section 34 (3) of this Act. | ||
(4) The amount of a grant under subsection (3) of this section shall not exceed 20 per cent of the cost of the fixed assets of the industrial undertaking. | ||
(5) Where a grant under this section is payable by instalments over a period of years, the amount of the grant shall, for the purposes of subsection (2) and (4) of this section, be taken to be the capital value of such instalments as determined by the Authority. |