(1)The Secretary of State may, with the consent of the Treasury, provide financial assistance to a core fuel sector participant for the purpose of—
(a)maintaining or improving core fuel sector resilience, or
(b)securing or maintaining continuity of supply of core fuels.
(2)Financial assistance under this section may be given in any form.
(3)Financial assistance under this section may, in particular, be given by way of—
(a)grants,
(b)loans,
(c)guarantee or indemnity,
(d)the acquisition of shares or any other interest in, or securities of, a body corporate,
(e)the acquisition of any undertaking or assets, or
(f)incurring expenditure for the benefit of the person assisted.
(4)Financial assistance under this section may be given on such terms and conditions as the Secretary of State considers appropriate (including provision for repayment, with or without interest).
(5)The Secretary of State is not authorised by this section to give financial assistance in the way described in subsection (3)(d) without the consent of the body corporate concerned.
Commencement Information
I1S. 287 not in force at Royal Assent, see s. 334(1)
I2S. 287 in force at 11.1.2024 by S.I. 2024/32, reg. 2(c)(ix)