Section 15 Recovery of grant
The Ministers may recover as a civil debt from any person who receives grant under this Scheme a sum equivalent to the whole or any part of the grant paid to that person if there occurs within the control period—
the total loss of the vessel;
a breach of any undertaking or condition subject to which the grant was made;
a mortgage of the vessel (other than a mortgage created for the raising of money applied towards the cost of construction or improvement of the vessel, being a mortgage approved by the Ministers before it was made), a transfer of registration of the vessel or a charter for any purpose other than the employment of the vessel in the catching or processing of sea fish based on a port in the United Kingdom;
sale or otherwise of the vessel or of any part thereof or of its engine or of any part thereof or of any equipment or apparatus used on or in connection therewith, or of any part of a vessel, engine, part of an engine or relevant equipment which is the subject of the improvement in respect of which the grant or any part of it was made.
If the event which gives rise to the recovery of the grant occurs—
more than 3 years from the commencement of the control period in respect of grant paid towards the acquisition of a vessel, or
more than 2 years from the commencement of the control period in respect of grant paid towards improvements
there shall be repaid to the Ministers a sum equivalent to a proportion of the grant to be calculated by multiplying the total amount of the grant by the fraction which represents the relationship which the un-expired part of the control period bears to the full control period.