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Enterprise and Regulatory Reform Act 2013
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- UK Public General Acts
- 2013 c. 24
- PART 1
- Section 4
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Version Superseded: 18/08/2017
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4Financial assistanceU.K.
This section has no associated Explanatory Notes
(1)Where an order has been made under section 2, the Secretary of State may, with the consent of the Treasury, give the UK Green Investment Bank financial assistance at any time when the Crown's shareholding in it is more than half of its issued share capital.
(2)The financial assistance may be given in any form that the Secretary of State, with the consent of the Treasury, considers appropriate.
(3)It may in particular be given by way of—
(a)grants,
(b)loans,
(c)guarantees,
(d)the purchase of share capital of the Bank, or
(e)the transfer of assets or rights to the Bank.
(4)The financial assistance may be provided subject to such terms and conditions as the Secretary of State, with the consent of the Treasury, considers appropriate (including, in the case of a grant or a loan, conditions requiring repayment or, in the case of a guarantee, conditions requiring reimbursement of any sums paid under it).
(5)The Treasury may arrange for money to be paid out of the National Loans Fund in order to enable loans to be made to the Bank under this section.
(6)Nothing in this section affects the exercise of any power of the Treasury or the Secretary of State to give financial assistance to the Bank otherwise than under this section at a time when the Crown's shareholding in the Bank is not more than half of its issued share capital.
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