Section 1217KC | Limit on State aid

(1)The total amount of any theatre tax credits payable under section 1217KB in the case of any undertaking is not to exceed 50 million euros per year.

(2)In this section “undertaking” has the same meaning as in the General Block Exemption Regulation.

(3)In this section “the General Block Exemption Regulation” means any regulation that—

(a)was in force under Article 1 of Council Regulation (EC) No 994/98 immediately before IP completion day, and

(b)made, in relation to aid in favour of culture and heritage conservation, the declaration provided for by that Article.