Legislation – Subsidy Control Act 2022
PART 3Exemptions
CHAPTER 3Emergencies etc.
44National or global economic emergencies
(1)
The prohibitions and restrictions imposed by sections 15 to 29 do not apply to a subsidy given to respond to a national or global economic emergency.
(2)
Subsection (1) applies only if the subsidy is given on a temporary basis.
(3)
A subsidy may be given in respect of a national or global economic emergency in reliance on the exemption under this section only if—
(a)
a notice is published by the Secretary of State for the purposes of this section declaring that the exemption applies in respect of that emergency, and
(b)
that notice has not been withdrawn by the publication of a further notice.
(4)
A copy of a notice under this section must be laid before Parliament.