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International Development Act 2002

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This is the original version (as it was originally enacted).

Form of assistance

5Meaning of “assistance”

Explanatory NotesShow EN

(1)In this Act “assistance” means assistance in any form or of any nature, including—

(a)financial or technical assistance, and

(b)assistance consisting in a supply of materials.

(2)In subsection (1) “technical assistance” includes assistance that—

(a)consists in know-how in the form of personnel, training or the provision of the results of research, or

(b)is provided in the form of a scholarship.

6Financial assistance

Explanatory NotesShow EN

(1)Financial assistance may be provided under this Act—

(a)by way of grant or loan,

(b)in the form of a guarantee, or

(c)by the Secretary of State acquiring securities of a company.

(2)More than one form of financial assistance may be provided in any case.

(3)In this section—

  • “company” includes any body corporate, wherever registered; and

  • “securities”, in relation to a company, means shares (including stock), debentures, bonds and other securities, whether constituting a charge on the assets of the company or not.

(4)This section is subject to section 7(3) (Treasury approval required for certain financial assistance).

7Terms on which assistance is provided

Explanatory NotesShow EN

(1)The Secretary of State may provide assistance under this Act on such terms and conditions (if any) as he may determine.

(2)Assistance, other than financial assistance, may be provided—

(a)free of charge, or

(b)on such terms as to payment as the Secretary of State may determine.

(3)Financial assistance (other than a grant) may be provided under this Act only if the Treasury have approved the terms and conditions on which it is provided.

(4)Approval may be given either with respect to a particular case or with respect to a class of cases.

8Arrangements with third parties

Explanatory NotesShow EN

(1)Any power conferred on the Secretary of State by sections 1 to 4 to provide assistance to any person or body, or carry on any other activities, includes a power to enter into arrangements to secure that such assistance is provided, or (as the case may be) activities are carried on, by one or more other persons.

(2)The arrangements may provide for the Secretary of State to make payments to persons who provide facilities in pursuance of the arrangements.

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