Common use of Financial Limits Clause in Contracts

Financial Limits. C14 Where there is only one UK location being considered for a project the financial limits are governed by EU State Aid rules. Where a potential investor is considering two or more locations in the UK the Concordat requires that the administrations involved will agree the appropriate level of financial support, subject always to compliance with State Aid rules. Relations with the European Union C15 Financial assistance to industry is an area which is subject to EU State Aid rules. In particular, the EU has certain powers under Articles 107and 108 of the Treaty on the Functioning of the European Union. As regards relations with the European Union, Ministers and officials of the devolved administrations will be fully involved in discussions within the UK Government about the formulation of the UK’s policy position on all issues which touch on financial assistance to industry. This will require mutual respect for the confidentiality of those discussions and adherence to the resultant UK line. All parties to the Concordat are covered and will abide by EU rules on state aid. C16 The UK Government commits itself to adequate consultation to a reasonable timescale with the devolved administrations on its dealings with the European Commission (and other European Union institutions as appropriate) on State Aids policy. By the same token, the devolved administrations undertake to maintain adequate consultation to a reasonable timescale with the UK Government on any measure which may require notification, and to respond within a reasonable timescale to enquiries received from the UK Government on actual or potential State aid measures or on consultation about new policy developments. C17 The designation of assisted areas, including related domestic legislation, is a reserved function and will remain the responsibility of the UK Government. There will, however, be adequate consultation to a reasonable timescale by the UK Government with the devolved administrations on the methodology and detail of any proposed revisions to the assisted areas map prior to putting proposals to the European Commission.

Financial Limits. C14 Where there is only one UK location being considered for a project the financial limits are governed by EU State Aid rules. Where a potential investor is considering two or more locations in the UK the Concordat requires that the administrations involved will agree the appropriate level of financial support, subject always to compliance with State Aid rules. Relations with the European Union C15 Financial assistance to industry is an area which is subject to EU State Aid rules. In particular, the EU has certain powers under Articles 107and 108 of the Treaty on the Functioning of the European Union. As regards relations with the European Union, Ministers and officials of the devolved administrations will be fully involved in discussions within the UK Government about the formulation of the UK’s UK‟s policy position on all issues which touch on financial assistance to industry. This will require mutual respect for the confidentiality of those discussions and adherence to the resultant UK line. All parties to the Concordat are covered and will abide by EU rules on state aid. C16 The UK Government commits itself to adequate consultation to a reasonable timescale with the devolved administrations on its dealings with the European Commission (and other European Union institutions as appropriate) on State Aids policy. By the same token, the devolved administrations undertake to maintain adequate consultation to a reasonable timescale with the UK Government on any measure which may require notification, and to respond within a reasonable timescale to enquiries received from the UK Government on actual or potential State aid measures or on consultation about new policy developments. C17 The designation of assisted areas, including related domestic legislation, is a reserved function and will remain the responsibility of the UK Government. There will, however, be adequate consultation to a reasonable timescale by the UK Government with the devolved administrations on the methodology and detail of any proposed revisions to the assisted areas map prior to putting proposals to the European Commission.