S.L. 463.3 Art. 4Assistance for the development of a new business by a small or medium- sized start-up undertaking.

Where the Corporation is satisfied that a small or medium-

sized start-up undertaking carrying on or intending to carry out a qualifying activity that may contribute to the economic development of Malta, requires assistance for the development of a new business, the Corporation may provide such an undertaking with a cash grant for the acquisition of tangible or intangible assets or for the procurement of services. This assistance shall not exceed -

(a) 50% for small undertakings and 40% for medium-sized undertakings of the qualifying expenditure in tangible and intangible assets;

(b) 50% of the qualifying expenditure for the acquisition of services:

Provided that applications for assistance under this th regulation shall reach the Corporation by not later than the 30 June, 2014.