S.L. 123.213 Art. 7Recovery of tax credit.

Where the competent entity or the Commissioner is in receipt of information that, had it been available during the application process submitted by the qualifying company, would have resulted in the status of a qualifying company being refused or alternatively in the status of a qualifying investor being refused, then all amounts invested by qualifying investors in the said qualifying company or by that particular qualifying investor, as the case may be, and which would have benefited from a tax credit as outlined in rule 3 hereof shall be brought to charge in accordance with articles 4 and 5 of the Act, together with interest at the rate of one per cent (1%) for every calendar month of the amount availed of as a tax credit by the qualifying investor.