Statutory Instruments
2008 No. 1272
Industrial Development
The Financial Assistance For Industry (Increase of Limit) Order 2008
Made
7th May 2008
Coming into force
8th May 2008
The Secretary of State, in exercise of the powers conferred on him by section 8(5) of the Industrial Development Act 1982( 1 ), and with the consent of the Treasury and after consultation with the Welsh Ministers, hereby makes the following Order, a draft of which has been laid before the House of Commons and has been approved by a resolution of that House in accordance with section 8(10) of that Act:
Citation, commencement, and extent
1. —(1) This Order may be cited as the Financial Assistance For Industry (Increase of Limit) Order 2008 and shall come into force on the day after it is made.
(2) This Order extends to the whole of the United Kingdom.
Increase of Limit
2. The limit specified in section 8(5) of the Industrial Development Act 1982( 2 ) shall be increased by the sum of £600 million to £4,300 million.
Pat McFadden
Minister of State for Employment Relations and Postal Affairs
Department for Business, Enterprise and Regulatory Reform
6th May 2008
We consent to the making of this Order
Dave Watts
Frank Roy
Two of the Lords Commissioners of Her Majesty’s Treasury
7th May 2008
1982 c.52 section 8(5) was substituted by section 1 of the Industrial Development (Financial Assistance) Act 2003 c.11 , which increased the limit to £3,700 million. As regards Wales, Article 5 and Schedule 2 to the National Assembly for Wales (Transfer of Functions) Order 1999 ( S.I. 1999/672 ) directs that the power of the Secretary of State is exercisable in relation to Wales only after consultation with the National Assembly for Wales constituted under the Government of Wales Act 1998 (c.38) . By virtue of paragraphs 30 and 32 of schedule 11 to the Government of Wales Act 2006 c.32 , that function was transferred to the Welsh Ministers immediately after the end of the initial period as defined by section 161(5) of that Act. As regards Scotland, the power was transferred to the Scottish Ministers by section 53 of the Scotland Act 1998 (c.46) but remains exercisable by the Secretary of State by virtue of section 56(1) of that Act.
The limit of £3700 million in section 8(5) has not been increased.