S.L. 123.82 Art. 8Letter of approval.

(1) In respect of every approved R&D project the Corporation shall issue a letter of approval showing:

(a) particulars of the applicant;

(b) a description of the project, with such conditions as the Corporation may have considered appropriate pursuant to rule 6(2);

(c) the amount of the maximum qualifying R&D expenditure for each item of expenditure, indicating the category under rule 5(2) and (3) to which each such item belongs;

(d) the earliest date by which the project must commence and the latest date by which it must be completed;

(e) the shortest period for which the investment must be retained in terms of rule 10(2);

(f) such other particulars as the Corporation may consider appropriate.

(2) The Corporation shall deliver the letter of approval to the applicant and a copy thereof to the Commissioner.

(3) The Corporation shall issue the said letter of approval before the company’s relative tax return date.