PART 1

Financial assistance
CHAPTER 1

New financial assistance powers

Financial assistance: forms, conditions, delegation and publication of information
2
1
Financial assistance may be given by way of grant, loan or guarantee or in any other form.
2
Financial assistance may be given subject to such conditions as the Secretary of State considers appropriate.
3
The conditions may (among other things) include provision under which the financial assistance is to be repaid or otherwise made good (with or without interest).
4
Financial assistance may be given to the maker or operator of a third party scheme in connection with expenditure involved in establishing or operating the scheme (including the provision of financial support).
5
In subsection (4) “third party scheme” means a scheme for giving financial support for any one or more of the purposes in section 1(1) and (2) which is not made by the Secretary of State.
6
The Secretary of State may delegate functions relating to the giving of financial assistance to any other person.
7
Functions delegated under subsection (6) may include—
a
the giving of guidance;
b
the exercise of a discretion.
8
The Secretary of State may by regulations make provision for or in connection with requiring the Secretary of State or another person to publish specified information about financial assistance which has been given.
9
Information which may be specified includes information about—
a
the recipient of the financial assistance;
b
the amount of the financial assistance;
c
the purpose for which the financial assistance was given.
10
Regulations under subsection (8) are subject to affirmative resolution procedure.
11
In this section “specified” means specified by regulations under subsection (8).