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42. In Article 242 for point (19) substitute—
“(19) “promotional entity” means any undertaking or entity—
(a)which is established by a government department or devolved administration or by a local authority in any part of the United Kingdom (“the establishing body”);
(b)which grants promotional loans or guarantees;
(c)whose primary goal is not to make profit or maximise market share, but is to promote public policy objectives of the establishing body; and
(d)in relation to which, subject to any applicable rules relating to State aid (as defined in the law of the United Kingdom after exit day)—
(i)the establishing body is obliged to protect its economic basis and maintain its viability throughout its lifetime; or
(ii)at least 90% of its original capital or funding or the promotional loan it grants is directly or indirectly guaranteed by a government department, a devolved administration or a local authority in any part of the United Kingdom.”.
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