S.L. 478.2 ст. 11Allowable expenditure.

(1) Expenditure shall constitute allowable expenditure if and to the extent that it meets all the following conditions:

(a) it is qualifying expenditure actually incurred by a qualifying company in carrying out an approved project and is not reimbursed to or otherwise recoverable by it;

(b) it is an item of expenditure to which a letter of approval issued under regulation 9 refers, which does not exceed the maximum qualifying expenditure for that item, and in respect of which any conditions that may have been made applicable in terms of regulation 7(2) have been satisfied;

(c) it was incurred during the project period and for the purpose for which the project was approved;

(d) it is correctly, clearly and separately recorded in the records of the company and supported by documentary evidence;

(e) if it represents the cost of construction works, the documentary evidence referred to in paragraph (d) includes a statement by the architect under whose direction or supervision the works were carried out confirming that the expenditure was incurred in the carrying out of the project as approved.

(2) The investment represented by allowable expenditure shall be retained within the company for at least three years after the termination of the project period. of regulation 15 shall apply.