(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.