Common use of SUBSIDY CONTROL Clause in Contracts

SUBSIDY CONTROL. The Grant is awarded as a Minimum Financial Assistance (MFA) subsidy under the Subsidy Control Act (2022). There is a threshold of £315,000 MFA cumulated over this and the previous two financial years, as specified in section 36(1) of the Subsidy Control Act (2022) and the grantee must ensure that this is not exceeded. The grantee is required to keep a written record of the amount of MFA received and the date/s when it was received. This will enable the grantee to respond to future requests from public authorities on how much MFA has been received and whether the cumulative threshold has been reached. (The Grantee may need to keep this Agreement for longer than three years for other purposes). The monetary value of the SFC Contribution is: £x,xxx/€x,xxx

SUBSIDY CONTROL. The Grant is awarded as a Minimum Financial Assistance (MFA) subsidy under the Subsidy Control Act (2022). There is a threshold of £315,000 MFA cumulated over this and the previous two financial years, as specified in section 36(1) of the Subsidy Control Act (2022) and the grantee must ensure that this is not exceeded. The grantee is required to keep a written record of the amount of MFA received and the date/s when it was received. This will enable the grantee to respond to future requests from public authorities on how much MFA has been received and whether the cumulative threshold has been reached. (The Grantee may need to keep this Agreement for longer than three years for other purposes). The monetary value of the SFC SG Contribution is: £x,xxx/€x,xxx(Insert grant value)