11 Grants towards loan interest.E+W+S
(1)Where—
(a)a designated district authority are satisfied that the acquisition by a small firm of land situated within a special area, or the carrying out by such a firm of any works on land so situated, would benefit the special area; and
(b)a loan is made to the firm (whether by the authority or by any other person) for the purpose of enabling it to acquire that land or, as the case may be, carry out those works,
the authority may, in respect of such period and by such instalments as they may determine, make a grant to the firm towards the interest payable in respect of that loan.
(2)Subsections (2) and (3) of section 3 above shall apply in relation to the making of grants under this section as they apply in relation to the making of grants under that section.
(3)In this section “small firm” means an industrial or commercial undertaking which has no more than fifty employees.