Application for a grant
3.—(1) The Secretary of State must establish a scheme for the allocation of grant under paragraph 2.
(2) He must send an application form for a grant under the scheme giving details of the scheme, the system that he will use to rank vessels under paragraph 4(5) if this should be necessary, and the closing date to all owners of vessels that are eligible in accordance with paragraph 2.
(3) An applicant for a grant under the scheme must submit the application form fully completed by the closing date, and must specify how much he is applying for (“the bid figure”).
(4) The bid figure for the vessel must not exceed £3,500 per tonne, where the tonnage is the gross tonnage of the vessel as registered under section 8 of the Merchant Shipping Act 1995.