There are currently no known outstanding effects for the The National Security and Investment Act 2021 (Monetary Penalties) (Turnover of a Business) Regulations 2021, Paragraph 6.
6.—(1) For the purposes of paragraph 5(2), “subsidy” means financial assistance which—
(a)is given, directly or indirectly, from public resources by a public authority;
(b)confers an economic advantage on one or more businesses; and
(c)is specific, that is, is such that it benefits one or more businesses over one or more other businesses with respect to the production of goods or the provision of services.
(2) For the purposes of sub-paragraph (1), the means by which financial assistance may be given include—
(a)a direct transfer of funds (such as grants or loans);
(b)a contingent transfer of funds (such as guarantees);
(c)the forgoing of revenue that is otherwise due;
(d)the provision of goods or services;
(e)the purchase of goods or services.
(3) For the purposes of sub-paragraph (1)(a), “public authority” means a person who exercises functions of a public nature.
(4) Financial assistance given from the person’s resources by a person who is not a public authority is to be treated for the purposes of sub-paragraph (1)(a) as financial assistance given from public resources by a public authority if the involvement of a public authority in the decision to give financial assistance is such that the decision is, in substance, the decision of the public authority.
(5) For the purposes of sub-paragraph (4), the factors which may be taken into account when considering the involvement of a public authority in the decision of a person to give financial assistance include, in particular, factors relating to—
(a)the control exercised over that person by that public authority, or
(b)the relationship between that person and that public authority.
(6) For the purposes of this paragraph, financial assistance is to be treated as given to a business if the business has an enforceable right to the financial assistance.
Commencement Information
I1Sch. para. 6 in force at 4.1.2022, see reg. 1(1)
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