Industrial Development Act, 1969
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Grants to secure reduction of factory rents. |
46.—(1) Where, in the opinion of the Authority, a grant may be made under section 9 of the Act of 1966 to a person, the Authority may, in lieu of making the grant to that person, make the grant on such terms and conditions as it thinks proper, to the person carrying on (or intending to carry on) the industrial undertaking concerned. | |
(2) The amount of a grant under the said section 9 (as extended by this section of this Act) made after the commencement of this section shall not exceed the amount of the grant which may be made in respect of a factory building under section 33 or sections 33 and 34 of this Act (as the case may be). | ||
(3) Notwithstanding anything in the said section 9, a grant under that section (as extended by this section) may be made to or in respect of an industrial undertaking in an area which is not an industrial estate. | ||
(4) Where a grant under the said section 9 (as so extended) is payable by instalments over a period of years, the amount of the grant shall be taken to be the capital value of the instalments as determined by the Authority. |