Part 3Energy Regulation
C7C10Chapter 3Special administration regime for energy licensees
Pt. 3 Ch. 3 power to apply and modify conferred (26.12.2023) by Energy Act 2023 (c. 52), ss. 48, 334(3)(a)
Financial support for companies in administration
I1C1C2C3C4C5C6C7C8C10C9165C7C10Grants and loans
1
This section applies where an energy administration order has been made in relation to a company.
2
The Secretary of State may make grants or loans to the company of such amounts as it appears to him appropriate to pay or lend for achieving the objective of the energy administration.
3
A grant or loan under this section may be made in whatever manner, and on whatever terms, the Secretary of State considers appropriate.
4
The terms on which a grant may be made under this section include, in particular, terms requiring the whole or a part of the grant to be repaid to the Secretary of State if there is a contravention of the other terms on which the grant is made.
5
The terms on which a loan may be made under this section include, in particular, terms requiring—
a
the loan to be repaid at such times and by such methods, and
b
interest to be paid on the loan at such rates and at such times,
as the Secretary of State may from time to time direct.
6
The consent of the Treasury is required—
a
for the making of a grant or loan under this section; and
b
for the giving by the Secretary of State of a direction under subsection (5).
7
The Secretary of State must pay sums received by him by virtue of this section into the Consolidated Fund.
Pt. 3 Ch. 3: power to modify conferred (31.3.2022 for specified purposes, 1.6.2022 in so far as not already in force) by Nuclear Energy (Financing) Act 2022 (c. 15), ss. 38, 44(1)(c)(2)(c)