Section 6 Financial assistance

United Kingdom

(1)

Financial assistance may be provided under this Act—

(a)

by way of grant or loan,

(b)

in the form of a guarantee, or

(c)

by the F1Minister acquiring securities of a company.

(2)

More than one form of financial assistance may be provided in any case.

(3)

In this section—

“company” includes any body corporate, wherever registered; and
“securities”, in relation to a company, means shares (including stock), debentures, bonds and other securities, whether constituting a charge on the assets of the company or not.

(4)

This section is subject to section 7(3) (Treasury approval required for certain financial assistance).

F2(5)

In a case where securities of a company are acquired by the Treasury, the securities are to be treated as held by the persons for the time being constituting the Treasury.

Annotations

Textual amendments

F1: Word in s. 6(1)(c) substituted (10.1.2018) by The Transfer of Functions (International Development) Order 2017 (S.I. 2017/1283), art. 1(2), Sch. para. 5(2) (with art. 3)
F2: S. 6(5) inserted (10.1.2018) by The Transfer of Functions (International Development) Order 2017 (S.I. 2017/1283), art. 1(2), Sch. para. 5(3) (with art. 3)