Subsidy
Functional Standards Common Glossary, published by the Cabinet Office, states: ‘Subsidy means financial assistance which: (i) arises from the resources of the parties, including (A) a direct or contingent transfer of funds such as direct grants, loans or loan guarantees; (B) the forgoing or revenue that is otherwise due; or (C) the provision of goods or services, or the purchase of goods or services; (ii) confers an economic advantage on one of more economic actors; (iii) is specific in so far as it benefits, as a matter of law or fact, certain economic actors over others in relation to the production of certain goods or services; and (iv) has, or could have, an effect on trade or investment between the parties.’
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