Section 9 Grants towards fulfilling guarantees of bank loans.C1

The Minister may, in such manner and subject to such conditions as he may with the approval of the Treasury determine make a grant to any person in respect of expenditure incurred by that person in fulfilling a guarantee given by him during the period of five years beginning on 1st April 1964, as security for a loan made in the course of a banking business to a person requiring the loan for the purposes of a horticulture business carried on by him.

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In this section—

• “horticulture business” means either—

  1. (a)

     a horticultural production business as defined by section 8(2) of the M1Horticulture Act 1960, or

  2. (b)

     a horticultural producers’ marketing business as defined by section 8(3) and (4) of that Act,

  but in the application of the said section 8(4) for the purposes of this definition “the appropriate Minister” shall in all cases mean the Minister;

• “year” means a period of twelve months beginning on 1st April.