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Research grants by Authority.
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40.—(1) The Authority may make grants (in this Act referred to as research grants), on such terms and conditions as it thinks proper, towards the cost of projects of research and development to which this section applies.
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(2) This section applies to projects of research and development which—
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(a) have as their primary object the promotion or development of new or improved industrial processes, methods or products in the State, and, in particular, such processes, methods or products as are likely either to involve the use or development of local materials, local agricultural produce or local natural resources or to offer prospects of expansion in existing industries or prospects of promotion of new industries, and
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(b) are carried out wholly or mainly in the State and wholly or mainly sponsored by one or more than one industrial undertaking in the State.
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(3) For the purpose of a research grant the Authority may consult such adviser, consultant, institute or other organisation or person as it considers proper.
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(4) (a) Subject to paragraph (b), the amount of a research grant shall not exceed 50 per cent of the approved costs of the project concerned or £15,000, whichever is the smaller sum.
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(b) The amount of a research grant may, with the approval of the Government in a particular case, exceed £15,000 by such sum as the Government shall in that case specify but provided that the percentage limit specified in paragraph (a) of this subsection is not exceeded.
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(c) In this subsection “approved costs” means, in relation to a particular proposed research grant, such expenditure by the industrial undertaking or undertakings concerned as the Authority is satisfied has been incurred for the purpose of promoting the project concerned and has been expended on—
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(i) the provision of sites or premises (including the acquisition of land), the construction and adaptation of buildings, and the provision of services and other works;
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(ii) the provision of plant, machinery, equipment and materials;
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(iii) the payment of salaries and wages to persons engaged on the project;
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(iv) the payment of fees or other remuneration to technical advisers consulted in connection with the project.
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