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Requirements to be observed

7.—(1) A relevant person to whom grant is paid under these Regulations shall comply with such requirements as may be determined by the Secretary of State in the case in question.

(2) Without prejudice to the generality of paragraph (1), requirements determined under this regulation may include requirements as to–

(a)the repayment of grant;

(b)the payment to the Secretary of State of other sums related to the value of assets acquired, provided or improved with the aid of grant;

(c)the payment of interest on sums due to the Secretary of State; or

(d)the keeping of such records and accounts, and the provision to the Secretary of State of such information, documents, returns and accounts as the Secretary of State may from time to time require.

(3) The Secretary of State may determine to withdraw a requirement imposed under this regulation or, after consulting the person upon whom it is imposed, vary such a requirement.