Industrial Grants Act, 1959
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Grants and guarantees in respect of capital costs of providing electricity supply. |
3.—(1) Whenever, in respect of an industrial undertaking, the Board exercise a power under section 5 of the Principal Act or make a grant under section 6 of the Principal Act or section 2 of this Act, the Board may do either or both of the following, that is to say: | |
(a) make grants, on such terms as they think proper, towards the capital costs of the provision by the Electricity Supply Board of an electricity supply for the undertaking, | ||
(b) guarantee, on such terms as they think proper, the payment of moneys payable to the Electricity Supply Board in respect of the capital costs of the provision by the Electricity Supply Board of an electricity supply for the undertaking. | ||
(2) The total amount granted under this section shall not in the case of any undertaking exceed one half of the amount payable to the Electricity Supply Board in respect of the capital costs aforesaid. | ||
(3) This section shall continue in operation until the 31st day of December, 1963. |