Section 257MB — Finance Act 2014: Power to amend limits on amounts raised

Power to amend limits on amounts raised 257MB 1 The Treasury may by order amend this Part for the purpose of—

a altering any limit for the time being imposed by this Part on amounts that a social enterprise may raise through investments eligible for SI relief;

b complying with any undertakings given to the European Commission, or any conditions imposed by the Commission, in connection with an application for State aid approval.

2 In subsection (1) “ State aid approval ” means approval that the provision made by this Part, so far as it constitutes the granting of aid to which any of the provisions of Article 107 or 108 of the Treaty on the Functioning of the European Union applies, is or would be compatible with the internal market, within the meaning of Article 107 of that Treaty.

3 An order under this section may make incidental, supplemental, consequential, transitional or saving provision.

4 An order under this section may not be made unless a draft of the instrument containing it has been laid before, and approved by a resolution of, the House of Commons.