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Infrastructure (Financial Assistance) Act 2012

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1Expenditure on financial assistance for the provision of infrastructure

This section has no associated Explanatory Notes

(1)There may be paid out of money provided by Parliament expenditure incurred—

(a)by the Treasury, or

(b)by the Secretary of State with the consent of the Treasury,

in giving, or in connection with giving, financial assistance to any person in respect of the provision of infrastructure.

(2)“Infrastructure” includes—

(a)water, electricity, gas, telecommunications, sewerage or other services,

(b)railway facilities (including rolling stock), roads or other transport facilities,

(c)health or educational facilities,

(d)court or prison facilities, and

(e)housing.

(3)“Provision” includes acquisition, design, construction, conversion, improvement, operation and repair.

(4)In this Act “financial assistance” means loans, guarantees or indemnities, or any other kind of financial assistance (actual or contingent).

(5)Expenditure which could be paid out of money provided by Parliament under subsection (1) is to be charged on and paid out of the Consolidated Fund if—

(a)the expenditure is incurred under an agreement entered into by the Treasury or the Secretary of State, and

(b)the Treasury are satisfied that arrangements cannot reasonably be made for the expenditure to be paid out of money provided by Parliament.

(6)Where money is paid in reliance on subsection (5), the Treasury must as soon as is reasonably practicable lay a report before Parliament specifying the amount paid.

(7)References in this Act to infrastructure assistance are to financial assistance the giving of which is in reliance on the authority provided by this section.

(8)Nothing in this Act applies in relation to the giving of financial assistance under a statutory power.

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