Section 1217KC Limit on State aidC1F1
The total amount of any theatre tax credits payable under section 1217KB in the case of any undertaking is not to exceed 50 million euros per year.
In this section “undertaking” has the same meaning as in the General Block Exemption Regulation.
In this section “the General Block Exemption Regulation” means any regulation that—
was in force under Article 1 of Council Regulation (EC) No 994/98 immediately before IP completion day, and
F3made, in relation to aid in favour of culture and heritage conservation, the declaration provided for by that Article.
Annotations
Textual amendments
- F1
Pt. 15C inserted (17.7.2014 for specified purposes and with effect in accordance with Sch. 4 para. 16 of the amending Act, 22.8.2014 in so far as not already in force) by Finance Act 2014 (c. 26), Sch. 4 paras. 1, 16; S.I. 2014/2228, art. 2
- F2
S. 1217KC(3)(a) substituted (31.12.2020) by The Taxes (State Aid) (Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1499), regs. 1, 5(3)(a)
- F3
Word in s. 1217KC(3)(b) substituted (31.12.2020) by The Taxes (State Aid) (Amendments) (EU Exit) Regulations 2020 (S.I. 2020/1499), regs. 1, 5(3)(b)
Modifications
- C1
Pt. 15C modified (with application in accordance with s. 17(1)(4) of the amending Act) by Finance Act 2022 (c. 3), s. 17(1)(4)