PART IInvestment Grants
3Hover vehicles.
1
Subject to the provisions of this section, the Board may make to any person carrying on a business in Great Britain a grant towards approved capital expenditure incurred by that person in providing a new hover vehicle for use, whether or not in Great Britain, for the purposes of that business.
2
No grant shall be made under this section to—
a
an individual who is not ordinarily resident in Great Britain;
b
a body corporate which is not incorporated and resident in Great Britain.
3
Subject to any order under section 7 of this Act, the amount of any grant under this section shall be twenty per cent. of the expenditure in respect of which it is made.