OpenLegislation

Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Regulations)

These Regulations amend the Financial Transparency (EC Directive) Regulations 2009 to clarify ambiguity in the drafting of Regulation 12 of those Regulations.

Regulation 2 of these Regulations amends Regulation 12 of the Financial Transparency (EC Directive) Regulations 2009 to make the mutual exclusivity of Regulations 11 and 12 clearer, to clarify ambiguity in the application of Regulation 12 and to remove any uncertainty as to whether the implied term in Regulation 12 can be excluded by an express contractual term.

A full impact assessment has not been produced for this instrument as no impact on the private or voluntary sectors is foreseen.

A full Impact Assessment for the Financial Transparency (EC Directive) Regulations 2009 was carried out and a copy has been placed in the libraries of both Houses of Parliament. Copies may be obtained from the State Aid Branch of the Department for Business, Innovation and Skills, 1 Victoria Street, London, SW1H 0ET.