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The High Street (Coronavirus, Financial Assistance) Scheme Regulations (Northern Ireland) 2021

Status:

Dyma’r fersiwn wreiddiol (fel y’i gwnaed yn wreiddiol).

EXPLANATORY NOTE

(This note is not part of the Order)

These Regulations provide for the issue of a pre-paid stored value card to successful applicants under the High Street Scheme (Northern Ireland) 2021.

Regulation 2 provides that the Scheme is set out in the Schedule.

The Schedule -

(a)provides that the Department for the Economy must issue a pre-paid stored value card to applicants who meet the eligibility criteria;

(b)specifies the how the application must be made, including the period within which the application must be made (“the application period”);

(c)provides for a reconsideration of rejected applications;

(d)provides that the Department must arrange to have a pre-paid card issued to successful applicants by a pre-paid card provider with whom the Department has entered into an arrangements;

(e)provides for the period during which a pre-paid card may be used (“the spend period”) ;

(f)provides what a pre-paid card may be used for and what uses are excluded;

(g)provides that payments made to applicants who are not eligible under the Scheme may be recovered; and

(h)provides that the stored value of a pre-paid card is to be ignored for certain social security purposes.

A Regulatory Impact Assessment has been prepared for these Regulations. An Explanatory Memorandum has been published alongside this instrument. Both documents can be viewed at www.economy-ni.gov.uk

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Memorandwm Esboniadol

Explanatory Memorandum sets out a brief statement of the purpose of a Statutory Rule and provides information about its policy objective and policy implications. They aim to make the Statutory Rule accessible to readers who are not legally qualified and accompany any Northern Ireland Statutory Rule or Draft Northern Ireland Statutory Rule laid before the UK Parliament during the suspension of the Northern Ireland Assembly.

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Impact Assessments generally accompany all UK Government interventions of a regulatory nature that affect the private sector, civil society organisations and public services. They apply regardless of whether the regulation originates from a domestic or international source and can accompany primary (Acts etc) and secondary legislation (SIs). An Impact Assessment allows those with an interest in the policy area to understand:

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  • How and to what extent new policies may impact on them; and,
  • The estimated costs and benefits of proposed measures.
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