PART 2

Remedies

Financial assistance

Financial assistance
30
1
The Secretary of State may, with the consent of the Treasury, give financial assistance to or in respect of an entity in consequence of the making of a final order.
2
“Financial assistance” means loans, guarantees or indemnities, or any other kind of financial assistance (actual or contingent).
3
If during any relevant period the amount given under this section totals £100 million or more, the Secretary of State must as soon as practicable lay a report of the amount before the House of Commons.
4
If during a relevant period in which a report has been laid under subsection (3) any further amount is given under this section, the Secretary of State must as soon as practicable lay a report of the amount before the House of Commons.
5
“Relevant period” means—
a
the period beginning with the day on which this section comes into force and ending with the following 31 March, and
b
each subsequent period of 12 months.
S. 30 in force at 4.1.2022 by S.I. 2021/1465, regs. 2, 3 (with regs. 4, 5)