Industrial Development (Science Foundation Ireland) Act 2003

Amendment of section 25 of Act of 1986.

29.—The Act of 1986 is amended by substituting the following for section 25:

“Employment grants.

25.—(1) The Authority may make a grant on such terms and conditions as it thinks proper in respect of a person employed in an industrial undertaking which conforms to the criteria set out in subsections (3) and (4) of section 21.

(2) Without the prior permission of the Government, the total amount of money granted to a particular undertaking under this section shall not exceed in the aggregate the higher of—

(a) €5,000,000, or

(b) €5,000,000 in excess of the aggregate amount of such expenditure for which the prior permission of the Government has previously been obtained.”.