MINIMAL FINANCIAL ASSISTANCE. 1. The Grant is awarded as in accordance with Article 364(4) of the Trade and Cooperation Agreement which enables the Grant Recipient to receive up to a maximum level of subsidy without engaging Articles 363-375 (except where a subsidy is prohibited under Article 367 (8-12)) of the Trade and Cooperation Agreement (a “Minimal Financial Assistance”). The current threshold is 325,000 Special Drawing Rights to a single economic actor over any period of three fiscal years.
MINIMAL FINANCIAL ASSISTANCE. The Grant is awarded as in accordance with Section 36 of the Subsidy Control Act which enables the Grant Recipient to receive up to a maximum level of subsidy without engaging the subsidy control requirements (with the exception of the transparency requirements for subsidies over £100,000) under the Act (“Minimal Financial Assistance”). The current threshold is £315,000 to a single enterprise over the elapsed part of the current financial year and the two preceding financial years (“the Applicable Period”). The Grant Recipient acknowledges and accepts that the relevant limit for Minimal Financial Assistance comprises other Minimal Financial Assistance, SPEI Assistance, Small Amounts of Financial Assistance given under Articles 364(4) or 365(3) of the UK-EU Trade and Cooperation Agreement, and De Minimis State Aid (“Exempt Subsidy/Subsidies”), irrespective of whether such subsidy or aid was provided by other public authorities and their agents, related to other projects or was made by means other than grants (for instance, foregone interest on loans) awarded to the Grant Recipient over the Applicable Period. The Authority has provided the Grant Recipient with a Minimal Financial Assistance notification in the Grant Application form. The award of this Grant will be conditional upon the Grant Recipient providing the Authority with confirmation on the Grant Application form that they have not exceeded the Minimal Financial Assistance threshold, fulfilling the notification process. The Authority may not pay the Grant Recipient the Grant if, added to any previous Exempt Subsidy the Grant Recipient has received during the Applicable Period, the Grant causes the Grant Recipient to exceed the relevant limit for Minimal Financial Assistance. For the purposes of the Minimal Financial Assistance declaration: the financial year means a period of 12 months ending 31st March; an enterprise means the enterprise that receives, or would receive, minimal financial assistance; and subsidy is subsidy granted to a single enterprise, which may include legal entities separate to Grant Recipient (such as current or former subsidiaries). The Grant Recipient must retain the Grant Funding Agreement and the completed Grant Application form and produce it on request by the Authority. The Grant Recipient acknowledges that it is Grant Recipient’s responsibility to read the Subsidy Control Act in its entirety, and seek advice (including legal advice) on its application to Grant Recipient’...
MINIMAL FINANCIAL ASSISTANCE. [Guidance: use this Annex 10 Part 3, where the Grant is awarded as minimal financial assistance which is an exempted subsidy under the Subsidy Control Act. The total amount of minimal financial assistance to a single enterprise must not exceed £315,000 over the period comprising the elapsed part of the current financial year and the two preceding financial years (three financial years).
