Written question asked by Baroness Randerson (Liberal Democrat) on Wednesday, 26 April 2023, in the House of Lords. It was due for an answer on Friday, 12 May 2023. It was answered by Earl of Minto (Conservative) on Wednesday, 17 May 2023 on behalf of the Department for Business and Trade.
flypop: Future Fund
- Question
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To ask His Majesty's Government, further to the Written Answer by Lord Callanan on 29 March 2022 (HL6989), whether FlyPop was granted a licence by the Civil Aviation Authority; and if not, what time limits have been set for businesses to become operational before monies obtained through the Future Fund are required to be repaid.
- Answer
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Licensing is a matter for the Civil Aviation Authority.
The repayment of monies obtained through the Future Fund is not driven by businesses becoming operational. The Future Fund is invested through a standardised 3-year term Convertible Loan Agreement (‘CLA’); the CLA either converts to equity or is repaid in accordance with the terms of the agreement. The full scheme eligibility criteria and rules can be viewed on the British Business Bank’s website.
Secondary information
- Type
- Written question
- Reference
- HL7475
- Session
- 2022-23
- Related items
- Subjects
- Aviation Licensing Future Fund flypop
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2023-11-20 11:20:28 +0000
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL7475
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL7475
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/lords/2022-23/HL7475