The Pig Industry Restructuring Grant (Wales) Scheme 2001

Payment and amounts of grants

3.—(1) Subject to the following provisions of this Scheme, the National Assembly may make to any eligible person a grant towards expenditure incurred in servicing the relevant part of a qualifying loan.

(2) For the purposes of this Scheme a qualifying loan is a loan which has been, or is to be, obtained from a bank for the purpose of implementing a business plan for the restructuring of a pig production business.

(3) For the purposes of this scheme the relevant part of a qualifying loan, in the case of expenditure which appears to the National Assembly to be of a capital nature or incurred in connection with expenditure of a capital nature, is that part of the loan which—

(a) has been or is to be incurred for the purposes of, or in connection with the carrying on of a pig production business; and

(b) is approved by the National Assembly for the purposes of a grant under this Scheme .

(4) For the purposes of this Scheme the relevant part of a qualifying loan, in the case of expenditure which appears to the National Assembly to be neither expenditure of a capital nature nor expenditure incurred in connection with expenditure of a capital nature, is that part of the qualifying loan which has been or is to be incurred for the purposes of, in connection with or in connection with any proposals for, restructuring by—

(a) the establishment or expansion of a farm business ancillary to a pig production business and relating to the products of pig production;

(b) the promotion of a farm business ancillary to a pig production business and relating to the products of pig production; or

(c) the marketing of anything produced or supplied in the course of a farm business ancillary to a pig production business and relating to the products of pig production.

(5) Where a loan has been incurred partly for the purposes of or in connection with the restructuring of a pig production business and partly for other purposes the National Assembly may for the purposes of a grant under this paragraph treat as a qualifying loan so much of that loan as appears to it to be referable to that restructuring.

(6) The National Assembly may make the payment of grant under sub-paragraph (1) above subject to such conditions as it may reasonably determine.

(7) No grant under this scheme shall exceed 5% of the qualifying loan (excluding accrued interest).