[F1[F2257MIAThe financial health requirementU.K.
This
adran has no associated
Nodiadau Esboniadol
(1)The social enterprise must meet the financial health requirement at the beginning of the shorter applicable period.
(2)The financial health requirement is that the social enterprise is not in difficulty.
(3)The social enterprise is “in difficulty” if it is reasonable to assume that it would be regarded as a firm in difficulty for the purposes of the Community Guidelines on State Aid for Rescuing and Restructuring Firms in Difficulty (2004/C 244/02).]]
Textual Amendments
F1Pt. 5B inserted (17.7.2014) by Finance Act 2014 (c. 26), Sch. 11 para. 1
F2S. 257MIA inserted (with effect in accordance with Sch. 1 para. 14(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 1 para. 8