S.L. 123.82 ст. 3Definitions under this Part.

In this Part, unless the context otherwise requires -

"allowable R&D expenditure" has the meaning assigned to it in rule 10; "approved R&D project" means a project approved by the Corporation in accordance with rule 5; "company" means a company, as defined in the Act, that qualifies as a small or medium-sized enterprise: Provided that with respect to qualifying expenditure incurred as from such date as the Minister responsible for finance may prescribe, "company" shall also include a company as defined in the Act that does not qualify as a small or medium sized enterprise; "maximum amount of qualifying R&D expenditure" has the meaning assigned to it in rule 7; "project period" means the period starting on the earliest date of the commencement and ending on the latest date of the termination of a project as determined under rule 8(1)(d); "qualifying R&D expenditure" means expenditure that is treated as such in terms of rule 5(2) and (3); "research and development" means an activity falling within any of the following descriptions:

(i) fundamental research, that is, an activity designed to broaden scientific and technical knowledge not linked to industrial or commercial objectives;

(ii) industrial research, that is, planned research aimed at the acquisition of new knowledge, the objective being that such knowledge may be useful in developing new products, processes or services or in bringing about a significant improvement in existing products, processes or services;

(iii) pre-competitive research, that is, the shaping of the results of industrial research into a plan, arrangement or design for new, altered or improved products, including the creation of a prototype which cannot be used commercially.