16B. (1) The powers conferred by paragraph (f) of subsection (1) of section 16 may only be exercised where an industrial undertaking is identified for the purpose referred to in that subsection and IDA—

(a) considers that industrial development will or is likely to occur as a result of the exercise of those powers, and

(b) is satisfied as to the matters specified in subsections (3) and (4)(b), (c), (d) and (e) of section 21 in respect of that undertaking.

(2) In the case of land which has been compulsorily acquired under subsection (1) of section 16, the powers conferred by paragraph (f) of that subsection may only be exercised in respect of that land for the purpose of that subsection by way of the grant of a lease.

(3) This section is without prejudice to section 3(4) of the Industrial Development Act 1995.]