Regulation 2 Interpretation

In these Regulations—

• “the Act” means the Subsidy Control Act 2022;

• “credit rating” means a credit rating provided by a credit rating agency;

• “credit rating agency” has the same meaning as in regulation 2 of the Credit Rating Agencies (Amendment etc.) (EU Exit) Regulations 2019^f1;

• “Fitch” means Fitch Ratings Limited (registered company number 01316230);

• “Moody’s” means Moody’s Investors Services Inc. incorporated in the US state of Delaware (file number 0577904);

• “normal taxation regime” is to be interpreted in accordance with section 4(4) of the Act;

• “small loan” means a loan which meets the conditions in regulation 6(2) or (3);

• “small loan guarantee” means a loan guarantee which meets the conditions in regulation 7(2) or (3);

• “Standard and Poor’s” means Standard and Poor’s Financial Services LLC, incorporated in the US state of Delaware (file number 4621989).

For the purposes of these Regulations—