|
|
Amounts of grants under sections 5 and 6 of Principal Act.
|
2.—(1) Subject to subsection (2) of this section, the total amount of the grants made by the Board in respect of an industrial undertaking under sections 5 and 6 of the Principal Act shall not exceed—
|
|
| |
(a) where the total amount of the grants is not more than two hundred and fifty thousand pounds, two-thirds of the total amount of the costs in respect of which the grants are made (being costs of the kind referred to in subsection (2) of the said section 6 or incurred in relation to matters of the kind mentioned in paragraph (vii) of subsection (1) of the said section 5), and
|
|
| |
(b) where the total amount of the grants is more than two hundred and fifty thousand pounds—
|
|
| |
(i) one-half of the total amount of the costs aforesaid, or
|
|
| |
(ii) the sum in pounds that equals the figure obtained by multiplying by one thousand the number of persons that, in the opinion of the Board, will be employed in the undertaking when it is in full operation, less such number of persons (if any) as were employed therein immediately before the incurring of the expenditure in relation to which the grants are paid,
|
|
| |
whichever is the less.
|
|
| |
(2) The Government may approve of the making of grants by the Board in respect of an industrial undertaking under the said sections 5 and 6 the total of which exceeds two hundred and fifty thousand pounds and exceeds one or both of the limits specified in paragraph (b) of subsection (1) of this section, and where in relation to any grants an approval has been given under this subsection, subsection (1) of this section shall not apply in respect of those grants.
|
