Regulation 4 Resource audit and business assessment
An eligible person who proposes to seek financial assistance under the scheme shall prior to making an application comply w ith the following paragraphs of this regulation.
The eligible person shall obtain the prior approval of the Secretary of State to the undertaking of a resource audit and business assessment of the agricultural unit.
If the Secretary of State so approves the eligible person shall arrange for the undertaking of the resource audit and business assessment in accordance with paragraphs (4) and (5) below.
The resource audit and business assessment shall identify to the satisfaction of the Secretary of State—
the assets of the agricultural business;
the opportunities for development including opportunities for conservation or enhancement of the environment;
the skills and training needs of the eligible person and the farming family resident on or in the vicinity of the agricultural unit; and
the priorities for investment in the agricultural business.
The resource audit and business assessment shall be undertaken at the expense of the eligible person.
The Secretary of State may pay to the eligible person financial assistance at the rate of 50% towards the cost incurred in the preparation of the resource audit and business assessment, subject to a maximum payment of £250.