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Maximum amount of investments.
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15.—(1) Subject to subsection (2) and subsection (3), the Corporation shall not, without the prior permission of the Minister, invest in an enterprise an amount or amounts exceeding in the aggregate £1,000,000.
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(2) Subject to subsection (3), the Corporation shall not, without the consent of the Government, invest in an enterprise an amount or amounts exceeding in the aggregate £2,500,000.
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(3) (a) The Corporation may, subject to subsection (1) and subsection (2), in addition to any equity investment made by it in an enterprise, make a loan to that enterprise; provided that
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(i) the amount of the loan does not exceed 30 per cent. of the initial investment by the Corporation in that enterprise, and
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(ii) the said loan is given as part of the initial investment by the Corporation in that enterprise.
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(b) The Corporation shall be empowered under this section to make no more than one loan to each enterprise in which it invests.
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(4) The Minister may from time to time vary by order—
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(a) the amount specified in subsection (1), and
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(b) the amount specified in subsection (2).
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(5) The rate of interest on every loan made under this section shall be such rate as the Minister, with the consent of the Minister for Finance, shall direct, either generally or in any particular case.
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