PART 3Exemptions

CHAPTER 2Minimal or SPEI financial assistance

Services of public economic interest assistance

39Section 38: procedural requirements

1

Before giving SPEI assistance, a public authority must give to the enterprise a SPEI assistance notification.

2

A “SPEI assistance notification” means a written statement—

a

explaining that the authority is proposing to give to the enterprise a subsidy by way of SPEI assistance,

b

specifying the gross value amount of the assistance, and

c

requesting written confirmation from the enterprise that the total amount specified in section 38(1) will not be exceeded by the enterprise receiving the proposed assistance.

3

The public authority may proceed to give the assistance only after it has received the confirmation referred to in subsection (2)(c).

4

On giving the assistance, the public authority must provide to the enterprise a SPEI assistance confirmation.

5

A “SPEI assistance confirmation” means a written statement confirming—

a

that the subsidy is given as SPEI assistance,

b

the date on which it is given, and

c

the gross value amount of the assistance.

6

The enterprise must keep a written record detailing—

a

that it has received a subsidy by way of SPEI assistance,

b

the date on which it was given, and

c

the gross value amount of the assistance.

7

The record required by subsection (6) must be kept for at least three years beginning with the date mentioned in paragraph (b) of that subsection.

8

In this section—

  • the enterprise” means the enterprise that receives, or that would receive, SPEI assistance;

  • “gross value amount” of SPEI assistance means the gross cash amount (see subsection (5)(a) of section 38) or the gross cash equivalent (see subsection (5)(b) of that section).