Section 49 — Abusive funding arrangement

(1)In this section and sections 50 and 51, “funding arrangement” means any agreement, scheme, transaction or series of transactions (whether or not legally enforceable) where the purpose, or one of the purposes, is to obtain an incentive, a grant or a loan from the Agency.

(2)For the purposes of this section and sections 50 and 51, a funding arrangement is an abusive funding arrangement if the funding arrangement, or a transaction forming part of the funding arrangement, results or would result in a person obtaining —

(a)an incentive, a grant or a loan from the Agency that a person would otherwise not be eligible for or would not have obtained from the Agency; or

(b)an amount of an incentive, a grant or a loan from the Agency higher than what a person would have been eligible for or would have obtained without that arrangement or transaction.

(3)For the purposes of sections 50 and 51, the amount of wrongly obtained funding that a person obtained or would have obtained from the Agency in relation to an abusive funding arrangement —

(a)is the amount of the incentive, grant or loan that results or would result from the abusive funding arrangement, or a transaction forming part of the abusive funding arrangement; but

(b)excludes any amount the person would have obtained without that abusive funding arrangement or transaction.