The Technology Development Board Act

Short title and commencement

Definitions

Constitution and incorporation of the Board

Secretary and other officers and employees of the Board

Committees of the Board

Functions of the Board

Application for grant of financial assistance, etc

Grants and loans by the Central Government

Fund for Technology Development and Application

Transfer of money receipts and liabilities

Budget

Annual report

Accounts and audit

Annual report and auditor’s report to be laid before Parliament

Returns to be furnished to the Board

Power of the Central Government to issue directions

Power of Central Government to supersede the Board

Delegation

Members, officers and employees of the Board to be public servants

Protection of action taken in good faith

Power of Central Government to make rules

Power of Board to make regulations

Rules and regulations to be laid before Parliament

All sections

(1) An application for grant of financial
assistance for the purposes mentioned under section 6 shall be made to the Board in such form as may be
prescribed.

(2) The Board may, after examining the application and after making such enquiries as it deems
necessary by order in writing, either grant the financial assistance or refuse to grant the same:

Provided that no refusal of grant shall be made unless an opportunity is given to the applicant of
being heard. 

LAWGIST

# 7 Application for grant of financial assistance, etc