Industrial Development Act, 1969

Chapter III.

Provisions Relating to Grants.

Authority's general grant-making powers.

33.—(1) The Authority may make a grant, on such terms and conditions as it thinks proper, towards the cost of fixed assets of or for an industrial undertaking to which this section applies.

(2) The amount of a grant under this section shall not exceed 40 per cent of the cost of the fixed assets in the case of an industrial undertaking in a designated area, or 25 per cent of the cost of the fixed assets in the case of an industrial undertaking elsewhere than in a designated area.

(3) This section applies to an industrial undertaking in respect of which the Authority is satisfied that—

(a) it would be likely to provide or maintain employment in the State,

(b) financial assistance is necessary to ensure its establishment, maintenance or development, and

(c) it is of a reasonably permanent nature and will be carried on efficiently.