The LCM explains the Bill’s key provisions as follows (emphasis added):
provision of a baseline legal framework to enable public authorities to award subsidies in line with the subsidy control principles;
the extension of the remit of the UK subsidy control regime from the current externally-facing regime to include the UK Internal Market;
the introduction of a small number of prohibitions to prevent public authorities granting subsidies with overly distortive or harmful economic impacts;
in limited circumstances, provision for various streamlined / fast-track subsidy award pathways, some of which are yet to be defined;
a requirement for public authorities to use the UK transparency database, to enable basic expenditure monitoring and scrutiny under the regime;
establishment of the Subsidy Advice Unit (located within the Competition and Markets Authority - CMA) to provide monitoring and oversight of the new...