Regulation 3 Gross Cash Amount and Gross Cash Equivalent Amount

(1)

These Regulations make provision about how the gross cash amount or the gross cash equivalent amount of a subsidy^f1 is to be determined for the purpose of—

(a)

section 33(8) of the Act (Duty to include information in the subsidy database),

(b)

section 36(5) of the Act (Minimal financial assistance),

(c)

section 38(5) of the Act (Services of public economic interest assistance),

(d)

section 41(2) of the Act (Exemption for certain subsidies given to SPEI enterprises), and

(e)

provision in regulations or schemes made under the Act.

(2)

In the provisions mentioned in paragraph (1)(a) to (e)—

(a)

references to a subsidy being provided in cash are to be taken to mean a subsidy which is given by means of a grant, and

(b)

references to a subsidy provided otherwise than in cash are to be taken to mean a subsidy given by any other means.

(3)

Accordingly, in these Regulations—

(a)

references to the gross cash amount of a subsidy are to be taken to refer to a subsidy which is given by means of a grant, and

(b)

references to the gross cash equivalent amount of a subsidy are to be taken to refer to a subsidy which is given by any other means.

Annotations

Footnotes

f1: “subsidy” has the meaning given by section 2(1) of the Subsidy Control Act 2022. (c. 23).