Legislation – Subsidy Control Act 2022
Changes to legislation:
There are currently no known outstanding effects for the Subsidy Control Act 2022, Section 11.
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PART 1Overview and key interpretation
Other key terms
11Subsidies and schemes of interest or particular interest
(1)
In this Act—
(a)
“subsidy, or subsidy scheme, of interest”, and
(b)
“subsidy, or subsidy scheme, of particular interest”,
have the meanings given in regulations made by the Secretary of State.
(2)
Regulations under this section defining “subsidy, or subsidy scheme, of interest” or “subsidy, or subsidy scheme, of particular interest” may make provision by reference (among other things) to—
(a)
the value of the subsidy or the value of the subsidies given under the subsidy scheme, and
(b)
the sector in which the expected beneficiaries of the subsidy or subsidy scheme operate, and any characteristics of that sector.
(3)
Provision under subsection (2)(a) may provide for the value of a subsidy to be determined by reference to its gross cash amount or the gross cash equivalent.
(4)
Regulations under this section are subject to the affirmative procedure.