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Chapter III.
Provisions Relating to Grants.
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Authority's general grant-making powers.
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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.
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(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.
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(3) This section applies to an industrial undertaking in respect of which the Authority is satisfied that—
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(a) it would be likely to provide or maintain employment in the State,
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(b) financial assistance is necessary to ensure its establishment, maintenance or development, and
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(c) it is of a reasonably permanent nature and will be carried on efficiently.
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