Industrial Development Act, 1978

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Amendment of section 42 of Principal Act.

6.—The Principal Act is hereby amended by the substitution for section 42 (inserted by the Act of 1975) of the following section:

“42.—(1) The total amount of moneys granted under one or more of the following sections of this Act, namely, sections 33, 34, 35 and 46, to or in respect of a particular industrial undertaking shall not exceed £1,250,000.

(2) Notwithstanding anything in this section, the Government may, in respect of a particular industrial undertaking, permit the making of a grant or grants under one or more of the sections referred to in subsection (1) of this section exceeding in amount £1,250,000, provided that in each such case the percentage limits specified in sections 33 (2), 34 (2), 35 (2) and 35 (4) of this Act (as may be appropriate) are not exceeded.”.