Undeveloped Areas Act, 1952

Grants for machinery and equipment.

6.—(1) The Board may make grants, on such terms as they think proper, towards the provision of machinery and equipment for an industrial undertaking in an undeveloped area if the Board are satisfied that—

(a) the undertaking would be likely to provide or maintain employment in such area, and

(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.

(2) The total amount so granted shall not in any case exceed one-half of the cost of the machinery or equipment provided.