Industrial Development Act, 1981

• Permanent Page URL

Research grants.

8.—The following paragraphs are substituted for paragraphs (a) and (b) of section 40 (4) of the Principal Act (inserted by the Act of 1977):

“(a) Subject to paragraph (b), the amount of a research grant shall not exceed 50 per cent. of the approved costs of the project concerned or £250,000, whichever is the smaller sum.

(b) The amount of a research grant may, with the approval of the Government in a particular case, exceed £250,000 by such sum as the Government shall in that case specify but provided that the percentage limit specified in paragraph (a) of this subsection is not exceeded.”.