Part 14Civil nuclear sector
Chapter 4Great British Nuclear
Financial assistance and directions etc
320Financial assistance
1
The Secretary of State may provide financial assistance—
a
to Great British Nuclear, or
b
to any other person to facilitate the design, construction, commissioning and operation of nuclear energy generation projects.
2
Financial assistance under this section may be provided in any form and in particular may be provided—
a
by way of grant, loan, guarantee or indemnity,
b
by the acquisition of shares or any other interest in, or securities of, a body corporate,
c
by the acquisition of any undertaking or of any assets,
d
pursuant to a contract, or
e
by incurring expenditure for the benefit of the person assisted.
3
Financial assistance under this section may be provided subject to such conditions as the Secretary of State considers appropriate, which may include—
a
conditions about repayment with or without interest or other return, or
b
conditions with which Great British Nuclear or any recipient of financial assistance under subsection (1)(b) must comply if the financial assistance is used for—
i
acquiring shares or any other interest in, or securities of, a body corporate, or
ii
participating in a partnership or joint venture.
4
The power to provide financial assistance under this section is in addition to (and does not limit or replace) any other power of a Minister of the Crown to provide financial assistance.
5
In this section—
“Minister of the Crown” has the same meaning as in the Ministers of the Crown Act 1975 (see section 8(1) of that Act);
“partnership” means—
- a
a partnership within the meaning of the Partnership Act 1890, or
- b
a limited partnership within the meaning of the Limited Partnerships Act 1907.
- a
321Secretary of State directions and guidance
1
The Secretary of State may from time to time give Great British Nuclear directions or guidance.
2
Before giving a direction or issuing guidance the Secretary of State must consult Great British Nuclear and such other persons as the Secretary of State considers appropriate.
3
Directions may be general or particular in character.
4
Great British Nuclear must—
a
comply with any directions given to it under this section, and
b
have regard to any guidance given to it under this section.
5
The Secretary of State must—
a
publish and lay before Parliament any directions given to Great British Nuclear under this section, and
b
publish any guidance given to Great British Nuclear under this section.