Regulation 3 Subsidy, or subsidy scheme, of particular interest

(1)

A subsidy^f1 is a subsidy of particular interest if paragraph (2), (3), (4) or (5) applies to the subsidy.

(2)

This paragraph applies to a subsidy if—

(a)

the amount of the subsidy exceeds £1 million,

(b)

the total amount of the subsidy and any other related subsidy given to the same enterprise^f2 within the applicable period exceeds £10 million, and

(c)

none of the provisions mentioned in regulation 4(4) applies to the giving of the subsidy.

(3)

This paragraph applies to a subsidy if—

(a)

the amount of the subsidy exceeds £1 million,

(b)

the total amount of the subsidy and any other related subsidy given to the same enterprise within the applicable period exceeds £5 million (but does not exceed the amount specified in paragraph (2)(b)),

(c)

the subsidy concerns a sensitive sector, and

(d)

none of the provisions mentioned in regulation 4(4) applies to the giving of the subsidy.

(4)

This paragraph applies to a subsidy if—

(a)

the amount of the subsidy exceeds £1 million,

(b)

the giving of the subsidy would be subject to section 18 (Relocation of activities) of the Act, and

(c)

none of the provisions mentioned in regulation 4(4) applies to the giving of the subsidy.

(5)

This paragraph applies to a subsidy if the giving of the subsidy would be subject to either of the following provisions of the Act:

(a)

section 20 (Restructuring);

(b)

section 21 (Restructuring deposit takers or insurance companies).

(6)

A subsidy scheme is a subsidy scheme of particular interest if it allows for one or more subsidies of particular interest to be given under it.

Annotations

Footnotes

f1: As defined in section 2 of the Subsidy Control Act 2022.
f2: As defined in section 7 of the Subsidy Control Act 2022.