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Regulation 5 Amount of Grant

Original text. Later amendments are not shown.

(1)

Subject to paragraph (2) the amount of grant payable under Regulation 3 or 4 shall not exceed:

(a)

30 per cent of approved expenditure; or

(b)

where the operation in question is located within the Objective 1 area, 40 per cent of approved expenditure.

(2)

If any other grant is payable from public funds in relation to the approved expenditure, the amount of grant payable under Regulation 3 or 4 shall be such amount which, when added to that other grant, would lead to a value of 30 per cent, or in the case of operations within the Objective 1 area, 40 per cent, of the approved expenditure.