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Development of Inventions Act 1967

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This is the original version (as it was originally enacted).

9Relief from interest on advances

(1)The Minister may with the consent of the Treasury give relief in respect of interest due under section 7(3)(b) of this Act in respect of any advance, being interest in respect of the whole or any part of the period of eight years beginning with the making of the advance.

(2)The Minister shall give effect to any decision to give relief of any amount under this section by making a grant of that amount to the Corporation out of moneys provided by Parliament, and the grant shall be used to meet the Corporation's liability to pay interest.

(3)This section shall apply in relation to advances made before or after the passing of this Act, and in relation to interest falling due before or after the passing of this Act.

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