The Pig Industry Restructuring (Capital Grant) Scheme (Northern Ireland) 2001

Payment and amounts of grants

3.—(1) Subject to the following provisions of this Scheme, the Department may make to any eligible person a grant towards expenditure incurred in servicing the relevant part of a qualifying loan.

(2) For the purposes of this Scheme a qualifying loan is a loan which has been, or is to be, obtained from a bank for the purpose of implementing a business plan for the restructuring of a pig production business, and the relevant part of a qualifying loan is that part of the loan which—

(a) has been or is to be obtained for the purposes of, or in connection with, the carrying on of a pig production business;

(b) appears to the Department to be of a capital nature or incurred in connection with expenditure of a capital nature; and

(c) is approved by the Department for the purposes of a grant under this Scheme.

(3) Where a loan has been obtained partly for the purposes of or in connection with the restructuring of a pig production business and partly for other purposes, the Department may for the purposes of a grant under this Article treat as a qualifying loan so much of that loan as appears to the Department to be referable to that restructuring.

(4) A grant under this Scheme, when coupled with any payment made under the Non-Capital Grant Scheme, shall not exceed in aggregate 5% of the qualifying loan (excluding accrued interest).