Section 14 Financial assistance for designated counterpartyI1
United Kingdom
The Secretary of State may provide financial assistance to the designated counterparty.
The financial assistance may be provided in any form and in particular may be provided—
by way of grant, loan, guarantee or indemnity or the provision of insurance, or
by incurring expenditure for the benefit of the designated counterparty.
Financial assistance under this section may be provided subject to such conditions as the Secretary of State considers appropriate, which may include conditions about repayment with or without interest or other return.
The power to provide financial assistance under this section is in addition to (and does not limit or replace) any other power of a Minister of the Crown to provide financial assistance.
Annotations
Commencement
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S. 14 in force at Royal Assent, see s. 19(1)