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INDUSTRIAL INVESTMENT (AMENDMENT) ACT (NORTHERN IRELAND) 1971

INDUSTRIAL INVESTMENT (AMENDMENT) ACT (NORTHERN IRELAND) 1971 - LONG
TITLE

An Act to reduce or limit certain grants under the Industrial
Investment (General Assistance) Act (Northern Ireland) 1966; to
abolish other grants under that Act; and for connected purposes.
[7th December 1971]
Reduction of amount of certain grants.

INDUSTRIAL INVESTMENT (AMENDMENT) ACT (NORTHERN IRELAND) 1971 - SECT
1

1.(1) Without prejudice to section 2 and subject to subsections (2)
to (4), the amount of any grant which may be made under the
Industrial Investment (General Assistance) Act (Northern Ireland) 1966
(in this Act referred to as "the Act of 1966") towards approved
capital expenditure incurred on or after 16th February 1971 shall be

(a)twenty per cent. under

(i)section 1(1) (machinery or plant for use in carrying on a
qualifying industrial process);

(ii)section 2(1) (computers such as are mentioned in subsections
(2)(a) and (b) and (3) of that section, that is to say, computers
for integration with machinery or plant or for use in scientific
research);

<(iii)section 4(2) (hired assets being machinery or plant or computers such as are mentioned in sub-paragraphs (i) and (ii) of this paragraph);

<(iv)section 7(1) (mining works); and

(b)thirty-five per cent. under section 5 (construction of a building
in Northern Ireland).

Subs.(2)(5) spent

INDUSTRIAL INVESTMENT (AMENDMENT) ACT (NORTHERN IRELAND) 1971 - SECT
2
Abolition of certain grants.

2.(1) Subject to subsections (2) to (5), no grant shall be made
under the Act of 1966 towards capital expenditure incurred

(a)on or after 8th December 1970 under

(i)section 3 (hover vehicles);

(ii)section 4(2) (hired assets being hover vehicles or assets for
use in Great Britain by virtue of an order made under section
8(1)(b));

<(iii)section 6 (ships); and

(b)on or after 16th February 1971 under

(i)section 1(1) (machinery or plant for use in any area designated
under section 1(7) of the Continental Shelf Act 1964 as mentioned
in section 1(4) of the Act of 1966 or in the form of a prototype
as mentioned in section 1(8) of the Act of 1966);

(ii)section 2(1) (computers other than computers to which section
1(1)(a) of this Act applies);

<(iii)section 4(2) (hired assets other than hired assets to which section 1(1)(a) of this Act applies or such as are mentioned in paragraph (a)(ii) of this subsection);

<(iv)section 7(1) (mining works in any area designated under section 1(7) of the Continental Shelf Act 1964 as mentioned in section 7(2) of the Act of 1966).

Subs.(2)(5) spent

INDUSTRIAL INVESTMENT (AMENDMENT) ACT (NORTHERN IRELAND) 1971 - SECT
3
Restriction on amount of grants.

3.[(1) The Ministry may, with the approval of the Ministry of
Finance, by order made subject to negative resolution, provide either
generally or in respect of any particular class of business, that
the aggregate amount of any grants made under the Act of 1966 as
modified by section 1(1) to or in respect of any person carrying
on a qualifying industrial process in the course of a business in
Northern Ireland shall not, in respect of any period consisting of
four consecutive quarters, exceed such amount as may be specified in
the order.]

(2) The limit [specified in an order under] subsection (1) on the
amount of any grant shall include the amount of any grant made
under section 4(2) (hired assets being machinery or plant for use
in carrying on a qualifying industrial process or computers for
integration with such machinery or plant or for use in scientific
research) of the Act of 1966 in respect of assets taken on hire
by that person notwithstanding that the payment of the grant is
made to the owner of the asset.

(3) In this section, "quarter" means a period of three months
ending on 31st March, 30th June, 30th September and 31st December.

S.4 adds s.8(1)(c) to, and repeals s.8(2) of, 1966 c.41 (NI)

INDUSTRIAL INVESTMENT (AMENDMENT) ACT (NORTHERN IRELAND) 1971 - SECT
5
Short title, citation and construction.

5.(1) This Act may be cited as the Industrial Investment (Amendment)
Act (Northern Ireland) 1971.

(2) This Act and the Industrial Investment (General Assistance) Acts
(Northern Ireland) 1966 and 1970 may be cited together as the
Industrial Investment (General Assistance) Acts (Northern Ireland) 1966
to 1971.

(3) This Act shall be construed as one with the Industrial
Investment (General Assistance) Act (Northern Ireland) 1966.