Industrial Development Act, 1986

Employment grants to service industry.

[1981 (No. 2), s. 2. New in pt.]

25.—(1) The Authority may make a grant (in this section referred to as an employment grant), on such terms and conditions as it thinks proper, towards the employment of persons in a service industry carried on as a separate undertaking.

(2) An employment grant may be made where, in the opinion of the Authority, the service industry would contribute significantly to regional and national development and, in particular—

(a) would be commercially viable,

(b) would have good prospects for growth, and

(c) would not be developed in the absence of an employment grant.

(3) The amount of an employment grant shall be subject to such financial limits as may be fixed from time to time by the Minister with the concurrence of the Minister for Finance.

(4) The Authority shall not, without the prior permission of the Government, give in respect of a particular undertaking an employment grant or grants exceeding in the aggregate £1,250,000.