Paragraph 1 Citation and interpretation

This Scheme may be cited as the Coronavirus Financial Assistance (Business Support) Scheme 2021 and applies in respect of the financial year ending on 31st March 2021.

In this Scheme:—

• “Coronavirus Financial Assistance (Business Support)” means financial assistance provided under this Scheme;

• “Coronavirus Restrictions Business Support” means financial assistance provided by the body known as Invest Northern Ireland under the scheme entitled the “Coronavirus Restrictions Business Support Scheme (CRBSS) (Part B)” to businesses in response to the incidence and spread of severe acute respiratory syndrome coronavirus 2 (SARS- CoV-2) in Northern Ireland and its resultant impact on sporting and cultural businesses;

• “the Department” means the Department of Finance;

• “hereditament” means a hereditament as defined by Article 2(2) of the Rates Order;

• “higher rate” will be a rate of £10,000;

• “Localised Restrictions Support Scheme” means financial assistance provided under the Financial Assistance (Coronavirus) (No. 2) Regulations (Northern Ireland) 2020^f1;

• “Minister of the Crown” has the same meaning as in the Ministers of the Crown Act 1975^f2;

• “net annual value” means a net annual value as defined by Article 2(2) of the Rates Order;

• “the Insolvency Order” means the Insolvency (Northern Ireland) Order 1989^f3;

• “the Rates Order” means the Rates (Northern Ireland) Order 1977^f4;

• “relevant retail, hospitality or leisure business” means a business which was properly eligible to receive an award under the Retail, Hospitality, Tourism and Leisure Grant or a business that would have been properly eligible under the criteria of that scheme if—

  1. (i)

     the current net annual value of the hereditament in which their business operates had been in place; and

  2. (ii)

     they had been in occupation of the hereditament in which their business operates,

  • during the application period for that scheme;

• “relevant small business” means a business which was properly eligible to receive an award under the Small Business Support Grant or a business that would have been properly eligible under the criteria of that scheme if—

  1. (i)

     the current net annual value of the hereditament in which their business operates had been in place; and

  2. (ii)

     they had been in occupation of the hereditament in which their business operates,

  • during the application period for that scheme;

• “Retail, Hospitality, Tourism and Leisure Grant” means the £25,000 grant administered by the body known as Invest Northern Ireland to businesses engaged in retail, hospitality or leisure activities, in respect of which applications closed on Wednesday 20 May 2020;

• “Small Business Support Grant” means the £10,000 grant administered by the body known as Invest Northern Ireland, to businesses eligible relief under the Rates (Small Business Hereditament Relief) Regulations (Northern Ireland) 2010^f5, in respect of which applications closed on Wednesday 20 May 2020;

• “standard rate” will be a rate of £5,000;

• “statutory undertaker” means persons authorised by any statutory provision to carry on any railway, road transport, water transport, inland navigation or dock undertaking, or a gas undertaker, an electricity undertaker, a water undertaker or a sewerage undertaker or the airport operator (within the meaning of the Airports (Northern Ireland) Order 1994^f6) of any airport to which Article 25 of that Order applies.