Common use of Government Grants Clause in Contracts

Government Grants. The Authority is dependent upon annual operating grants from the Cayman Islands Government to meet its obligations. The full amount of the grant is treated as income in the year of receipt. The funding for Capital expense is treated as an additional paid-up capital.

Government Grants. The Authority is dependent upon annual operating grants from the Cayman Islands Government to meet its obligations. The full amount of the grant is treated as income in the year of receipt. The funding for Capital expense is treated as an additional paid-up capital.