Industrial Development Act, 1978

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Amendment of section 38 of Principal Act.

4.—Section 38 of the Principal Act is hereby amended by the substitution for subsections (3) and (4) (inserted by the Act of 1975) of the following subsections:

“(3) The total amount of moneys paid in grants under this section in respect of an industrial undertaking shall not exceed £1,250,000.

(4) Notwithstanding anything in this section the Government may, in respect of a particular industrial undertaking, permit the making by the Authority of grants under subsection (1) of this section exceeding in amount £1,250,000, provided that in each such case the percentage limits specified in subsection (2) of this section are not exceeded.”.