A beneficiary who collected a subsidy on the basis of untrue declarations must return the funds within 14 business days after collecting them. As much is provided for in the newly promulgated rules of recourse to the Financial Shield corona crisis funds coming into force on 28 May. Recipient companies are well advised to make sure that they meet the criteria for classification as a small enterprise or, as the case may be, as a medium-sized enterprise, and that their application for aid is signed and submitted by a competent company officer.

An enterprise which received a financial subsidy on the basis of untrue declarations (where these declarations concerned facts / circumstances upon which eligibility for the aid was predicated) must promptly return it to a special bank account within 14 business days following its receipt [...]

 

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