Industry Act 1972

1 Grants for buildings, machinery, plant and certain works

(1) The Secretary of State may make a grant to a person towards approved capital expenditure incurred by that person, being expenditure of any description in column 1 of the Table below.

(2) The amount of a grant under this section shall be the prescribed percentage of the expenditure in respect of which it is made.

(3) Subject to any order under section 3 of this Act, the prescribed percentage shall be that specified in column 2 of the Table below.

TABLE

Expenditure incurred in	Prescribed percentage
1. Providing a building as part of, or providing works on, qualifying premises in—
(a) a development area	If the qualifying premises are in a special development area: 22 per cent. If not: 20 per cent.
(b) an intermediate area	20 per cent.
(c) in the case of a building or any works provided before 22nd March 1974, a derelict land clearance area.	20 per cent.
2. (1) Providing new machinery or plant for use in qualifying premises in a development area. (2) Providing mining works for use in a development area.	} If the qualifying premises or mining works are in a special development area: 22 per cent. } If not: 20 per cent.
3. Providing new machinery or plant for use in a development area in activities which are within Order XX of the Standard Industrial Classification (construction industry).	20 per cent.

(4) For the purposes of this section the Secretary of State may by order designate a development area or any part of it as a special development area, and, in exercising his powers under this subsection, the Secretary of State shall have regard to all the circumstances actual and expected, including the state of employment and unemployment, population changes, migration and the objectives of regional policies.

(5) An order under this section may describe a special development area by reference to employment exchange areas, that is to say areas for which an employment exchange has been established for the purposes of the [1948 c. 46.] Employment and Training Act 1948; and any reference in such an order to a named employment exchange area shall be construed as a reference to that area as it exists on the date on which the order comes into force.

(6) Subject to the provisions of paragraph 1 of Schedule 2 to this Act, grants may be made under this Part of this Act in respect of expenditure defrayed on or after 22nd March 1972, and the power conferred by subsection (4) above shall include power to specify special development areas for the purpose of grant payable in accordance with this Part of this Act in respect of assets provided before the passing of this Act (and before the making of the order).