Amendment Of The Export Development Act

Original Language Title: Änderung des Ausfuhrförderungsgesetzes

Read the untranslated law here: https://www.global-regulation.com/law/austria/2996857/nderung-des-ausfuhrfrderungsgesetzes.html

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121. Federal law that modifies the export promotion Act

The National Council has decided:

The export promotion Act - AusfFG, Federal Law Gazette No. 215/1981, amended by Federal Law Gazette I no. 145/2008, is amended as follows:

1. According to paragraph 2a, 2 the following paragraph is inserted b:

"§ 2 b." The Minister is also empowered to liabilities for contracts which are concluded between credit institutions for the purpose of refinancing of loan and credit agreements, to take over, unless the underlying loan and credit agreements already liability in accordance with § 1 para 1 have been applied to Z 2 (securitisation)."

2. paragraph 5 paragraph 2:

"(2) for consideration of application for assumption of liability within the meaning of §§ 1 and 2 which exceed five hundred thousand euros in the particular case, an Advisory Council at the Ministry is established for finance. Members of the Advisory Board, which makes this review among aggregate including environmental and employment aspects, are: 1. A representative of the Federal Ministry of finance as Chairman, a representative of the Federal Chancellery, the Federal Ministry for economy, family and youth, the Federal Ministry for agriculture and forestry, environment and water management, as well as the Federal Ministry for European and international affairs;

2. a representative of the Austrian Federal Economic Chamber, the Federal Chamber of labour, the Conference of Presidents of the Chamber of agriculture in Austria and the Austrian Trade Union Confederation;

3. a representative of the Austrian National Bank;

4. a representative of representative without voting rights."

3. paragraph 7 para 3 and 4:

"(3) as long as the credits are not used for payments, the use of the amount corresponding to the balances of the Federal Government in the export financing scheme of the agent is to use. Credits can be used to the extent of up to 0.2 vH of the liability framework laid down in accordance with article 3, paragraph 1 for purposes of federal financing for development at the Development Bank in accordance with § 9.

(4) exceeds the balances as at 31 December of the calendar year 1% of the liability framework laid down in accordance with article 3, paragraph 1, or of any higher reserve requirement in accordance with the budgetary provisions of the Covenant, the each excess amount is 20 January of the following calendar year to the federal Treasury to dissipate."

4. paragraph 9 paragraph 6:

"(6) the allocations between the Federal Government and the Development Bank regarding liability fees and liability payments be made in the way of the agent through the account in accordance with section 7; the same applies to balances uses in accordance with § 7 paragraph 3."

5. section 9 be attached following paragraph 7 and 8:

"(7) all inputs from trust-investments Development Bank in favour of the Federal Government are to take from this and credited continuously on a separate account of the Federal Government, which set up is when the agent of the Federal Government in accordance with article 5, paragraph 1. The Development Bank is authorized, the compensation agreed with the Federal Government, as well as payments for back investments and replacement investments relating to trust-investments attributable to this separate account. On basis of invoices in the preview of the Development Bank to take care is that the account has always a sufficient cover for already received commitments by the Federal Government.

(8) the Minister of finance can order a representative and a Deputy of Ombudsman for the Development Bank to safeguard its interests in connection with the takeover of liabilities and the implementation of measures referred to in paragraph 2. The right to these people to inspect all books, documents and other writings of the society and to participate in all general meetings and meetings of the Supervisory Board. For the activities of the Ombudsman and his Deputy payment be prescribed respectively by the Federal Minister of finance to determine one society on the federal Treasury of to pay annual lump sum. The fee has to be in proportion to the expenses associated with the activity."

6 paragraph 10 para 1 and 2:

'(1) as far as the designations employed in this federal law relating to natural persons, the selected form shall apply to both sexes. In the application of these terms to certain natural persons the respective gender-specific form is to use.

(2) the export promotion Act - AusfFG, Federal Law Gazette No. 215/1981 as amended by Federal Law Gazette I no. 121/2012, occurs with 31 December 2017 override. Liabilities acquired before that date remain untouched. thereof"

Fischer

Faymann