9Grant of financial assistance in respect of approved capital costs

9 Grant of financial assistance in respect of approved capital costs

(1) Subject to this Act, where a participating State or a local governing body in a participating State has, after the commencement of this Act and after the State has given the notice by virtue of which it is a participating State, expended an amount for the purpose of meeting in whole or in part the approved capital cost of an approved project, there is payable to the State, by way of financial assistance, an amount equal to two‑thirds of the amount so expended. (2) Unless the Minister otherwise approves in a particular case, the last preceding subsection does not apply in relation to any expenditure with respect to an approved project made before the project was so approved.