26Grants not payable to a company where aggregate research and development expenditure in preceding 8 years exceeds $250,000

#### 26 Grants not payable to a company where aggregate research and development expenditure in preceding 8 years exceeds $250,000 (1) In this section, relevant expenditure, in relation to a company, means: (a) expenditure that is salary expenditure, contract expenditure (other than expenditure of the kind referred to in paragraph (a) of the definition of contract expenditure in subsection 5(1) of the previous Act), net plant expenditure or net prescribed expenditure of the company for the purposes of the previous Act in respect of a year that is a grant year for the purposes of the previous Act; and (b) expenditure that is eligible expenditure of the company for the purposes of this Act in respect of a year that is a grant year for the purposes of this Act. (2) Where: (a) an eligible company applies for a commencement grant in respect of a grant year and, if that grant year is a year other than the year commencing on 1 July 1976, the company has not applied for a commencement grant in respect of a previous grant year; and (b) the aggregate of the relevant expenditure of the eligible company, and of companies that, by virtue of section 5, are deemed to be related, at any time during the first‑mentioned grant year, to that company, in respect of all or any of the years included in the period of 8 years immediately preceding the commencement of the first‑mentioned grant year exceeds $250,000; the eligible company is not entitled to a commencement grant in respect of that first‑mentioned grant year or any subsequent grant year.