Act Number: 44

Act Name: The Technology Development Board Act, 1995

Year: 1995

Enactment Date: 1995-12-16

Long Title: An Act to provide for the constitution of a Board for payment of equity capital or any other financial assistance to industrial concerns and other agencies attempting development and commercial application of indigenous technology or adapting imported technology to wider domestic applications and for matters connected therewith or incidental thereto.

Ministry: Ministry of Science and Technology

Department: Department of Science and Technology

Section 7: Application for grant of financial assistance, etc.
    (1) An application for grant of financial assistance for the purposes mentioned under section 6 shall be made to the Board in such form as may be prescribed.
     (2) The Board may, after examining the application and after making such enquiries as it deems necessary by order in writing, either grant the financial assistance or refuse to grant the same:
     Provided that no refusal of grant shall be made unless an opportunity is given to the applicant of being heard.
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