Overview of the Act
The Act raises the limit on government financial assistance that can be provided to CDC Group plc (formerly the Commonwealth Development Corporation) (the "CDC") and its associated companies by amending Section 15 of the Commonwealth Development Corporation Act 1999 (the "1999 Act"). The new limit is £6,000 million. The Act also introduces a power to allow the Secretary of State to further increase the financial limit up to £12,000 million by regulations.