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INDUSTRIAL INVESTMENT (GENERAL ASSISTANCE) ACT (NORTHERN IRELAND) 1966 - SECT 14

Financial provisions.

14.(1) In this Act

"approved capital expenditure" in relation to any grant or loan means
expenditure appearing to the Ministry to be of a capital nature and approved
by it for the purposes of the grant or, as the case may be, the loan;

"article" means an article of any description (including any means of
transport) and includes part of an article;

"asset" includes any such works as are mentioned in section 7;

"building" includes a structure, except that the Ministry may treat any
structure as machinery or plant to such extent as the Ministry considers
appropriate;

"business" includes a trade or profession but does not include the activities
of

(a)a local authority as defined in section 66 of the Finance Act 1965;

(b)the Northern Ireland Housing Trust;

(c)a new town commission within the meaning of the New Towns Act (Northern
Ireland) 1965;

(d)a university, school or other establishment of education;

and references to a person carrying on a business include, except where the
context otherwise requires, references to a person proposing to carry on a
business;

"computer" means

(a)a stored programme digital computer, or

(b)an analogue computer,

used for automatic data processing and includes part of such a computer;

["conditional sale agreement" means an agreement for the sale of goods under
which the purchase price or part of it is payable by instalments, and the
property in the goods is to remain in the seller (notwithstanding that the
buyer is to be in possession of the goods) until such conditions as to the
payment of instalments or otherwise as may be specified in the agreement are
fulfilled;]

"expenditure" in relation to the provision by a person of an asset includes

(a)except where the context otherwise requires, expenditure on or incidental
to the installation of the asset;

(b)expenditure consisting of instalments under a hire-purchase agreement or
otherwise consisting of instalments of or payments towards the purchase price
of or cost of providing the asset; and

(c)where the asset is provided by being manufactured or constructed by that
person, such sum as appears to the Ministry to be properly attributable to its
provision by him in that manner;

["hire-purchase agreement" has the same meaning as in the Hire-Purchase Act
(Northern Ireland) 1966;]

["hire-purchase agreement" means an agreement, other than a
conditional sale agreement, under which

(a)goods are bailed in return for periodical payments by the person to whom
they are bailed or hired, and

(b)the property in the goods will pass to that person if the terms of the
agreement are complied with and one or more of the following occurs

(i)the exercise of an option to purchase by that person,

(ii)the doing of any other specified act by any party to the agreement,

<(iii)the happening of any other specified event;]


"hover vehicle" means [a hovercraft within the meaning of the Hovercraft Act
1968 and includes part of such a hovercraft];

"machinery or plant" includes part of any machinery or plant but does not
include a computer, ship or aircraft or any vehicle except

(a)a vehicle constructed or adapted for the conveyance of a machine
incorporated in or permanently attached to it and of no other load except
articles used for the purposes of the machine;

(b)a vehicle constructed or adapted for the conveyance or haulage of loads in
or about private premises, including the site of building or civil engineering
operations;

"the Minister" means the Minister of Commerce;

"the Ministry" has the meaning assigned to it by section 1(1);

"new"

(a)except in relation to a building, means unused and not second-hand, except
that the Ministry may treat as new anything which has been substantially
reconditioned;

(b)in relation to a building, means not previously occupied;

"scientific research" means any activity in the fields of natural or applied
science for the extension of knowledge;

"ship" includes any vessel used in navigation.

(2) Where a new building is purchased by a person for the purposes of his
business, so much of the expenditure incurred by him in such purchase as
appears to the Ministry to be attributable to the cost of constructing the
building may be treated for the purposes of this Act as expenditure incurred
by that person in the construction thereof.

(3) Expenditure incurred in carrying out works on land (including expenditure
incurred in demolishing the whole or any part of a building) for the purposes
of a building constructed or proposed to be constructed on that or any
adjacent land may be treated for the purposes of this Act as expenditure
incurred in the construction of the second-mentioned building.

Subs.(4) rep. by 1969 c.48 s.141 sch.11 Pt.II

(5) For the purposes of this Act expenditure shall be treated as incurred at
the time when the sums of which it consists become payable.

(6) A grant or loan may be made under this Act in respect of any expenditure
incurred on or after 17th January 1966 and of any expenditure incurred before
that date so far as it consists of a sum paid after that date.

(7) For the purposes of subsections (5) and (6) expenditure which does not
consist of a sum payable or paid to another person shall be deemed to consist
of a sum payable or, as the case may be, paid at such time as the Ministry
considers appropriate having regard to the time when the matters giving rise
to that expenditure occurred.

Subs.(8) spent

(9) Any amount which is repayable to the Ministry under this Act may, without
prejudice to any other means of recovery, be recovered by deduction from any
grant or other sum payable out of moneys provided by Parliament or by any
Ministry of Northern Ireland to the person from whom the amount is due, and
that grant or other sum shall be abated accordingly.

© 1966 Crown Copyright

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