Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Where a company has received (otherwise than under this Act) financial assistance from the Commonwealth, or out of moneys provided by the Commonwealth, and it appears to the Board that that financial assistance has aided the company to carry out a project for industrial research and development, the Board may reduce the amount of any project grant to the company in respect of that project to such extent as it thinks appropriate by reason of that financial assistance.
(2) In making a reduction under subsection (1), the Board shall not take into account any amount of financial assistance that it has taken into account in making a reduction under section 28.
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