Energy Act 2004

165 Grants 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.