Industrial Development Act 1966

17 Amendments as to building grants.

(1) In relation to any case in which it appears to the Board that an application for a grant under section 3 of the [1960 c. 18.] Local Employment Act 1960 (building grants) is made for the purpose of setting up an undertaking in a development area in circumstances which justify the giving of special assistance under that section, section 2(1) of the [1963 c. 19.] Local Employment Act 1963 (which provides for the amount of such a grant to be twenty-five per cent. of the expenditure in respect of which it is made) shall have effect as if for the reference to twenty-five per cent. there were substituted a reference to thirty-five per cent.

(2) The amount of a grant under the said section 3 may be less than the amount prescribed by the said section 2(1) in any case in which it appears to the Board that the employment likely to be provided as a result of the expenditure in respect of which the grant is to be made does not justify a grant of the amount so prescribed.

(3) In the said section 3, and in section 2(1) and (2) of the said Act of 1963, references to providing a building shall include references to purchasing a new building (that is, a building not previously occupied) but, in calculating for the purposes of grant under the said section 3 the expenditure incurred in purchasing a building, no account shall be taken of any expenditure which, in the opinion of the Board, is not attributable to the cost of constructing it.

(4) Where a building constructed with a view to being let to another person includes special features at the request of that person and he is required to pay a capital sum in consideration thereof, a grant may be made to him under the said section 3 as if that sum were expenditure incurred by him in providing the building, and the said section 2 shall have effect in relation to any such grant accordingly.

(5) In this section references to a building include references to an extension of a building and to a structure.