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INDUSTRIAL INVESTMENT (GENERAL ASSISTANCE) ACT (NORTHERN IRELAND) 1966 - SECT 4

Hired assets.

4.(1) References in this Act to providing machinery or plant, a computer or a
hover vehicle do not include references to providing it by hiring it from
another person; and nothing in the forgoing provisions of this Act shall be
construed as enabling a grant to be made under those provisions towards
expenditure incurred by a person in providing any such asset for the purpose
of hiring it out to another person.

(2) Subject to the provisions of this section, the Ministry may make to any
person carrying on a business in Northern Ireland of hiring out any asset
mentioned in subsection (1) a grant towards approved capital expenditure
incurred by that person in providing for the purposes of that business a new
asset such as is mentioned in that subsection, but such a grant shall be made
only

(a)in the case of any such asset as aforesaid, if

(i)the asset has been hired out by him to another person; and

(ii)a grant could have been made under section 1, 2 or 3 to that other person
if the asset had been provided by him within the meaning of that section and
approved capital expenditure had been incurred by him, in so providing it, on
the date on which he took possession of it; or

(b)in the case of machinery or plant, if it is provided for the purpose of
being hired out for use in Northern Ireland for carrying on any process for or
incidental to the purpose mentioned in section 1(2)(e).

(3) Subject to any order under section 8, the amount of any grant under this
section shall

(a)in the case of

(i)machinery or plant (other than machinery or plant provided for use as
described in section 1(4) or machinery or plant in the case of which the grant
is made by virtue of subsection (2)(b)), or

(ii)a computer provided as described in section 2(2)(a) or (b),

(a)be forty per cent. of the expenditure in respect of which it is made; and

(b)in any other case shall be twenty per cent. of the said expenditure.

(4) In this section references to hiring do not include references to hiring
under a hire-purchase agreement.

Subs.(5) spent.

© 1966 Crown Copyright

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