Part 1

Assistance

Form of assistance

Financial assistance
6
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 Minister 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).
5
In a case where securities of a company are acquired by the Treasury, the securities are to be treated as held by the persons for the time being constituting the Treasury.
S. 6(5) inserted (10.1.2018) by The Transfer of Functions (International Development) Order 2017 (S.I. 2017/1283), art. 1(2), Sch. para. 5(3) (with art. 3)
Word in s. 6(1)(c) substituted (10.1.2018) by The Transfer of Functions (International Development) Order 2017 (S.I. 2017/1283), art. 1(2), Sch. para. 5(2) (with art. 3)