Amendment status not verified — confirm the current text below against the official source.
Industries to which aid may be given - (1) An industry to which aid may be given by the Government under this Act shall have an important bearing on the economic development of the country and shall be— (a) a new or nascent industry; (b) an industry to be introduced in any area where such industry is undeveloped; or (c) an old or established industry: Provided that the Government may, by notification and for reasons recorded therein, declare that aid shall not be given under this Act to any industry specified in such notification. (2) No aid shall be given by the Government to any Company as defined in section 3 of 1[the Companies Act, 1956 (Central Act 1 of 1956)] unless the same is registered in India.