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The Subsidy Control (Subsidies and Schemes of Interest or Particular Interest) Regulations 2022

Draft Legislation:

This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Subsidy Control (Subsidies and Schemes of Interest or Particular Interest) Regulations 2022 No. 1246

Subsidy, or subsidy scheme, of interest

This section has no associated Explanatory Memorandum

4.—(1) A subsidy is a subsidy of interest if—

(a)it is not a subsidy of particular interest within the meaning of regulation 3(1) to (5), and

(b)paragraph (2), (3), (4) or (5) of this regulation applies to the subsidy.

(2) This paragraph applies to a subsidy if the total amount of the subsidy and any other related subsidy given to the same enterprise within the applicable period exceeds £5 million.

(3) This paragraph applies to a subsidy if the giving of the subsidy would be subject to section 18 (Relocation of activities) of the Act.

(4) This paragraph applies to a subsidy if the giving of the subsidy would be subject to any of the following provisions of the Act:

(a)section 19 (Rescuing);

(b)section 22 (Liquidating deposit takers or insurance companies);

(c)section 23 (Liquidity provision for deposit takers or insurance companies).

(5) This paragraph applies to a subsidy if it is given under a subsidy scheme made in the form of a tax measure.

(6) A subsidy scheme is a subsidy scheme of interest if—

(a)it is not a subsidy scheme of particular interest within the meaning of regulation 3(6), and

(b)it allows for one or more subsidies of interest to be given under it.

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