30.—(1) Following consultation with such bodies as may be specified by the Minister from time to time, the Authority may make a grant (in this section referred to as a technology acquisition grant) to an industrial undertaking on such terms and conditions as it thinks proper towards the costs of acquiring product or process technology to which this section applies, if the undertaking conforms to the criteria set out in subsections (3) and (4) of section 21 and the product or process technology so acquired will assist the undertaking to achieve the objectives of the said subsection (3).

(2) Product or process technology for the purpose of this section shall include patents, designs, trade marks, trade secrets, copyright, proprietary and non-proprietary information and techniques.

(3) This section applies to the acquisition of product or process technology which has as its primary object the improvement of the technological capability of one or more than one industrial undertaking and the production or application of advanced industrial processes or products in the State.

(4) For the purpose of a technology acquisition grant the Authority may consult such adviser, consultant, institute or other organisation or person as it considers proper.

(5) (a) Subject to paragraph (b), the amount of a technology acquisition grant shall not exceed 50 per cent. of the approved costs of acquisition of the technology concerned or F30[£400,000], whichever is the smaller sum.

(b) The amount of a technology acquisition grant may, with the approval of the Government in a particular case, exceed F30[£400,000] by such sum as the Government shall in that case specify, provided that the percentage limit specified in paragraph (a) is not exceeded.

(c) In this section “approved costs” means in relation to a particular technology acquisition grant, such expenditure by the industrial undertaking or undertakings concerned as the Authority is satisfied has been incurred for the purpose of acquiring the product or process technology concerned and has been expended on—

(i) acquiring or an option to acquire a licence or knowledge of a product or method of production;

(ii) the payment of fees or other remuneration to technical advisers consulted in connection with the acquisition of the technology; and

(iii) the salaries and wages paid to, and the travel and subsistence expenses of persons engaged in the acquisition of the technology.

(6) The Authority shall not, without the prior permission of the Government, give in respect of a particular industrial undertaking, technology acquisition grants exceeding in the aggregate the higher of:—

(a) F31[£800,000]; or

(b) F31[£800,000] in excess of the aggregate amount of technology acquisition grants for which the permission of the Government has previously been obtained by the Authority.