PART 3Exemptions
CHAPTER 3Emergencies etc.
I1I244National or global economic emergencies
1
The prohibitions and restrictions imposed by sections 15 to 29 do not apply to a subsidy given to respond to a national or global economic emergency.
2
Subsection (1) applies only if the subsidy is given on a temporary basis.
3
A subsidy may be given in respect of a national or global economic emergency in reliance on the exemption under this section only if—
a
a notice is published by the Secretary of State for the purposes of this section declaring that the exemption applies in respect of that emergency, and
b
that notice has not been withdrawn by the publication of a further notice.
4
A copy of a notice under this section must be laid before Parliament.