Introductory Text
PART 1 Overview and key interpretation
Overview etc
1.Overview and application of Act
“Subsidy”
2.“Subsidy”
3.Financial assistance which confers an economic advantage
4.Financial assistance which is specific
5.Section 2: modification for air carriers
“Public authority”
6.“Public authority”
“Enterprise”
7.“Enterprise”
8.Persons under common control
Other key terms
9.The subsidy control principles and the energy and environment principles
10.Subsidy schemes and streamlined subsidy schemes
11.Subsidies and schemes of interest or particular interest
PART 2 Subsidy control requirements
CHAPTER 1 Principles
12.Application of the subsidy control principles
13.Application of the energy and environment principles
CHAPTER 2 Prohibitions and other requirements
Introductory
14.Introductory
General prohibitions
15.Unlimited guarantees
16.Export performance
17.Use of domestic goods or services
18.Relocation of activities
Ailing or insolvent enterprises
19.Rescuing
20.Restructuring
21.Restructuring deposit takers or insurance companies
22.Liquidating deposit takers or insurance companies
23.Liquidity provision for deposit takers or insurance companies
24.Meaning of “ailing or insolvent”
25.Meaning of “deposit taker”
26.Meaning of “insurance company”
Other specific prohibitions and requirements
27.Subsidies for insurers that provide export credit insurance
28.Subsidies for air carriers for the operation of routes
29.Services of public economic interest
Subsidy schemes
30.Effect of prohibitions etc in relation to subsidy schemes
Subsidies or schemes subject to mandatory referral
31.Subsidies or schemes subject to mandatory referral
CHAPTER 3 Transparency
32.Subsidy database
33.Duty to include information in the subsidy database
34.Information to be included in the subsidy database
PART 3 Exemptions
CHAPTER 1 Introductory
35.Introductory
CHAPTER 2 Minimal or SPEI financial assistance
Minimal financial assistance
36.Minimal financial assistance
37.Section 36: procedural requirements
Services of public economic interest assistance
38.Services of public economic interest assistance
39.Section 38: procedural requirements
General
40.Mergers and acquisitions
41.Exemption for certain subsidies given to SPEI enterprises
42.Chapter 2: supplementary and interpretative provision
CHAPTER 3 Emergencies etc.
43.Natural disasters and other exceptional circumstances
44.National or global economic emergencies
CHAPTER 4 Other miscellaneous exemptions
45.National security
46.Bank of England monetary policy
47.Financial stability
48.Legacy and withdrawal agreement subsidies
49.Tax measures
50.Large cross-border or international cooperation projects
51.Nuclear energy
PART 4 CMA: referrals and functions
CHAPTER 1 Functions on referrals of subsidies and schemes
Mandatory referrals
52.Mandatory referral to CMA
53.CMA reporting period for mandatory referral
54.Cooling off period following mandatory referral
55.Call-in direction
Voluntary referrals
56.Voluntary referral to CMA
57.CMA reporting period for voluntary referral
58.Call-in direction following voluntary referral
Mandatory and voluntary referrals: contents of CMA report
59.CMA report following mandatory or voluntary referral
Post-award referrals
60.Post-award referrals
61.CMA reporting period for post-award referrals
62.CMA report following post-award referral
Exemptions
63.Referrals in relation to subsidy schemes
64.Other exemptions
CHAPTER 2 General functions
65.Monitoring and reporting on subsidy control
66.CMA annual report
67.Information-gathering powers
CHAPTER 3 Subsidy Advice Unit
68.Subsidy Advice Unit
69.References to subsidy control groups
PART 5 Enforcement
Appeals to the Competition Appeal Tribunal
70.Review of subsidy decisions
71.Time limits for applications under section 70
72.CAT powers on review: England and Wales and Northern Ireland
73.CAT powers on review: Scotland
74.Recovery orders
75.Appeals against decisions of the CAT
Pre-action information
76.Duty to provide pre-action information
Misuse
77.Misuse of subsidies
PART 6 Miscellaneous and general
CHAPTER 1 Miscellaneous
78.Subsidies and schemes in primary legislation
79.Guidance
80.Disclosure of information
81.Modifications to subsidies and schemes
82.Gross cash and gross cash equivalent amount of financial assistance
83.Minor amendment to the Financial Services Act 2021
CHAPTER 2 General
84.Financial provision
85.Crown application
86.Power to make consequential provision
87.Regulations
88.Directions
89.Interpretation
90.Extent
91.Commencement
92.Short title
SCHEDULES
SCHEDULE 1
The subsidy control principles
A.Common interest
B.Proportionate and necessary
C.Design to change economic behaviour of beneficiary
D.Costs that would be funded anyway
E.Least distortive means of achieving policy objective
F.Competition and investment within the United Kingdom
G.Beneficial effects to outweigh negative effects
SCHEDULE 2
The energy and environment principles
A.Aim of subsidies in relation to energy and environment
B.Subsidies not to relieve beneficiary from liabilities as a polluter
C.Subsidies for electricity generation adequacy, renewable energy or cogeneration
D.Subsidies for electricity generation adequacy may be limited to installations...
E.Subsidies for renewable energy or cogeneration shall not affect beneficiaries’...
F.Subsidies in the form of partial exemptions from energy-related taxes and levies
G.Subsidies in the form of compensation for increases in electricity costs
H.Subsidies for the decarbonisation of emissions linked to industrial activities
I.Subsidies for improvements of the energy efficiency of industrial activities
SCHEDULE 3
Subsidies provided by primary legislation
1.Introductory
2.(1) In this Schedule— “appropriate authority” means— in relation to...
3.(1) The definition of “subsidy” in section 2 applies for...
4.In this Schedule references to a subsidy provided by means...
5.In this Schedule— (a) references to a subsidy provided by...
6.Application of principles
7.Prohibitions etc and exemptions
8.Transparency
9.CMA referrals
10.Recovery orders
11.Pre-action information
12.Time limits