Nuclear Energy (Financing) Act 2022

41 Financial provision U.K.

(1) There is to be paid out of money provided by Parliament—

(a) any expenditure incurred by the Secretary of State by virtue of this Act;

(b) any expenditure incurred by the Competition and Markets Authority by virtue of this Act;

(c) any expenditure incurred by the Authority by virtue of this Act;

(d) any increase attributable to this Act in the sums payable out of money so provided under any other Act.

(2) The expenditure referred to in subsection (1)(a) includes expenditure incurred by the Secretary of State for the purposes of or in connection with—

(a) the establishment of a revenue collection counterparty;

(b) making payments or providing financial assistance to a revenue collection counterparty;

(c) making payments to a nuclear administrator or a relevant licensee nuclear company under or by virtue of Part 3.

(3) Financial assistance or payments includes financial assistance or payments given subject to such conditions as may be determined by, or in accordance with arrangements made by, the Secretary of State; and such conditions may in particular in the case of a grant include conditions for repayment in specified circumstances.

(4) In this section—

• “financial assistance” means grants, loans, guarantees or indemnities, or any other kind of financial assistance;

• “nuclear administrator” has the same meaning as in Part 3;

• “relevant licensee nuclear company” has the same meaning as in Part 1;

• “revenue collection counterparty” has the same meaning as in Part 2.

Commencement Information

I1 S. 41 in force at Royal Assent, see s. 44)(1)(e)