Act Amending The Act Of November 3, 2001 On The Creation Of The Belgian Investment Company For Developing Countries And Amending The Act Of 21 December 1998 On The Establishment Of The 'belgian Technical Cooperation' In The Form Of A Company Of

Original Language Title: Loi modifiant la loi du 3 novembre 2001 relative à la création de la Société belge d'Investissement pour les pays en développement et modifiant la loi du 21 décembre 1998 portant création de la "Coopération technique belge" sous la forme d'une société de

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Read the untranslated law here: http://www.ejustice.just.fgov.be/cgi/article_body.pl?numac=2014015037&caller=list&article_lang=F&row_id=900&numero=936&pub_date=2014-02-13&dt=LOI&language=fr&fr=f&choix1=ET&choix2=ET&fromtab=+moftxt&trier=publication&sql=dt+=+'LOI'&tri=pd+AS+RANK+

Posted the: 2014-02-13 Numac: 2014015037 FEDERAL Foreign Affairs, external trade and development COOPERATION PUBLIC SERVICE January 20, 2014. -Act amending the Act of November 3, 2001 on the creation of the Belgian investment company for developing countries and amending the Act of 21 December 1998 on the establishment of the 'Belgian Technical Cooperation' in the form of a company public (1) PHILIPPE, King of the Belgians, to all, present and to come, hi.
The Chambers have adopted and we endorse the following: Article 1. This Act regulates a matter referred to in article 78 of the Constitution.
S. 2. in article 2, paragraph 2, of the Act of November 3, 2001 on the creation of the Belgian investment company for developing countries and amending the Act of 21 December 1998 establishing the "Belgian Technical Cooperation" in the form of a public company, the words "or in the field of the social economy" shall be inserted between the words "local businesses" and "developing countries" and the words "as well as the organizations and" companies whose corporate purpose includes the financing of local entrepreneurship in developing countries"are inserted after the words"in developing countries".
S. 3. in the same Act, it is inserted an article 2A as follows: "article 2A. § 1. The Board of Directors is composed of twelve members, including its president.
§ 2. The Board has as many members of French-speaking and Dutch expression.
§ 2.
The Board has up two-thirds of members of the same sex.
§
3. The members of the Governing Council are appointed upon proposal by the Minister having the Development Cooperation in its attributions, by royal decree deliberated in the Council of Ministers, on the basis of their knowledge of international co-operation or management.
§ 4.
A representative of the Directorate-General of Cooperation for development and humanitarian aid of the FPS Foreign Affairs, foreign trade and Development Cooperation, designated by the Minister, Cooperation to development in his or her attributions, is invited to the meetings of the Board of Directors.
Has not the right to vote. "."
S. 4. article 3, § 1, paragraph 1, of the Act is replaced by the following: "BIO has for purpose to invest, directly or indirectly, in the development of micro-, small and medium-sized enterprises (MSMES) and social economy enterprises located in developing countries in the interest of the economic and social advancement of those countries while ensuring a sufficient return." BIO is also to social investment in energy projects and projects contributing to the fight against climate change in developing countries, as well as in companies whose object is to provide the basic services to the population in developing countries. "."
S. 5. article 3, § 1, paragraph 5, fifth indent, of the Act, inserted by the law of July 20, 2005, is replaced by the following: "-grant subsidies to fund programs to support the development of companies in the portfolio of BIO or companies that could benefit from funding by BIO otherwise than in the form of a subsidy." The granting of these subsidies is done on the basis of an agreement between BIO and the beneficiary and is linked to specific criteria, including at the level of beneficiaries: i) companies in the portfolio. The portfolio company is a company having benefited from funding by BIO, in any form whatsoever, other than in the form of a subsidy;
(ii) the intermediate structures geared exclusively towards local businesses, in this case banks commercial or cooperative, investment companies and micro-finance institutions, companies and the investment funds, leasing companies and warranty and insurance companies located in developing countries and finance the activities and investments of micro-, small and medium local enterprises;
(iii) the micro-, small and medium enterprises in developing countries that meet the following criteria: has) the value of the assets of the MSMES does not exceed EUR 43 million;
(b) the turnover of the MSMES does not exceed EUR 50 million.
BIO funding is limited to maximum 50% of the cost of assistance.
The amount of the allowance cannot exceed one hundred thousand euro per project.
The subsidy convention includes the description of activities, funding arrangements, the obligations of reporting including the justification of the use of means, the terms of repayment of the subsidy if the beneficiaries remain in default and the possibilities of control by BIO. BIO justifies the use of subsidies annually transmitting a report containing the following information to the Minister in charge of the Development Cooperation:-an assessment of the activities carried out;
-a balance sheet;
-an evaluation of the results obtained;
-any adjustments contemplated strategy followed in respect of the management contract. "."
S.
6. article 3, § 1, of the same law is supplemented by a paragraph 6, as follows: "do not account for all BIO (creation of companies, investments, loans, grants) (corporations and funds investment and businesses:-which are established in any State referred to in article 307, § 1, paragraph 5, a) or b)" , of the 1992 income tax Code;
-who are established in one State other than that where sits the final beneficiary of the intervention of BIO, which appears in the list of States that refuse to negotiate and sign an agreement which provides, in accordance with the standards of the Organization for cooperation and development (OECD), the automatic exchange of information in tax matters and banking with the Belgium from 2015. This list is defined by a royal decree deliberated in the Council of Ministers. ".
S. 7. article 3, § 2, paragraph 1, of the Act is replaced by the following: "§ § 2 2" BIO speeches are directed exclusively to companies in developing countries, belonging to the following categories, as defined by the OECD's development assistance Committee: (i) the least developed countries;
(ii) countries with low income;
(iii) the lower-middle income countries;
(iv) the country to middle-upper income. "."
S. 8. article 3, § 3, paragraph 2, of the Act is repealed.
S. 9. in the same Act, it is inserted an article 4bis, as follows: "article 4bis. § 1. The rules and special conditions that BIO is implementing its purpose shall be adopted a management contract between the organic and Belgian State.
§ 2. The management contract rule at least the following matters: 1 ° the framework policy;
2 ° the missions and values of BIO;
3 ° the strategic priorities of the investment policy of BIO in terms of geographical, sectoral and thematic concentration, as well as modalities for investment and funding criteria;
4 ° the terms of financing of BIO, both as a contribution to equity than in form of subsidies from the general budget of expenditure of the federal State;
5 ° the objectives specific and measurable achievement for BIO;
6 ° the modalities of cooperation and development of synergies between BIO and the other players in the Belgian Development Cooperation;
7 ° the procedures and objective parameters of the annual assessment of the management contract;
8 ° financial sanctions for non-compliance by a party of its commitments arising from the contract of management;
9 ° the internal control obligations.
§ 3. Any express resolutory clause in the management contract is deemed unwritten.
Article 1184 of the civil Code is not applicable to the management contract. The party to whom an obligation laid down in the management agreement is not executed may only to force the other party to the performance of the obligation and, if necessary, ask for damages, without prejudice to the application of any penalty in the management contract. "."
S. 10. in the same Act, it is inserted an article 4ter, as follows: "article
4B. § 1. During the negotiation and conclusion of the management contract, the federal State is represented by the Minister in charge of the Development Cooperation.

§ 2. During the negotiation of the management contract, BIO is represented in accordance with the law and the Statute. The management contract is subject to the competent organ of BIO, which shall act in accordance with the law and the Statute.
§ 3. The management contract enters into force after its approval by the King, by Decree deliberated in the Council of Ministers, on the date fixed by the order. "."
S.
11. in the same Act inserted an article 4quater as follows: "article 4quater. § 1. The management contract is assessed annually and, in cases of necessity, adapted to changes in the legislation to BIO and the developments in the sector in which BIO evolves according to a procedure and objective parameters in the management contract.
§
2. Any variation of the contract of management not covered in the § 1 proposed by one of the parties or by the two parties is made in accordance with article 4B. "."
S. 12. in the Act, it is inserted an article 4quinquies as follows: "article 4quinquies. § 1. The management contract is concluded for a period of five years.
§

2. no later than six months before the expiry of a management contract, BIO submits to the Minister in charge of the Development Cooperation a new management contract draft.
If, on the expiry of a management contract, a new management contract entered into force, the contract is extended right up to the entry into force of a new management contract. This extension is published in the Belgian Official Gazette by the Minister in charge of the Development Cooperation.
If a new management contract is not entered into force one year after the extension referred to in paragraph 2, the King may, by Decree deliberated in the Council of Ministers, establish provisional rules concerning the matters referred to in article 4B, § 2. These provisional rules apply as new management contract and shall apply until the entry into force of a new contract of management, concluded in accordance with article 4B. ".
S. 13. in the Act, it is inserted an article 4sexies as follows: "article 4sexies. the orders approving a contract management or its adaptation, as well as the orders fixing the provisional rules, are published in the Moniteur belge.
The provisions of the management contract are published in the annexes of the royal decree, with the exception of those covered by a secrecy obligation established by or by virtue of the law or the publication of which would be contrary to public order. "."
S. 14. in article 5, paragraph 2, of the Act, the words "the criteria set out in article 4 of the Act of 25 May 1999 on Belgian International Cooperation" shall be replaced by the words "the criteria defined by the development of the Organization for cooperation and economic development assistance Committee referred to in article 32 of the Act of March 19, 2013 the Belgian Development Cooperation.".
S. 15. article 8 of the Act is replaced by the following: 'article 8 § 1. BIO's interventions fit into the overall objective of the Belgian Development Cooperation which is sustainable human development referred to in article 3 of the Act of March 19, 2013 the Belgian Development Cooperation.
§ 2. Interventions bio must also meet the criteria defined by the Committee of support to the development of the Organisation for cooperation and economic development referred to in article 32 of the Act of March 19, 2013 on Belgian Cooperation to development, namely relevance, effectiveness, efficiency, sustainability, impact and sustainability. "."
Promulgate this Act, order that it self under the seal of the State and published by le Moniteur.
Given in Brussels, January 20, 2014.
PHILIPPE by the King: the Minister of Cooperation for development, p.. Lady sealed with the seal of the State: the Minister of Justice, Ms. A. TURTELBOOM _ Note (1) House of representatives: Doc 53-3062 (2013/2014): 001: Bill.
002: Amendments.
003: Report.
004: Text corrected by the commission.
See also: Compte rendu intégral: 5 December 2013.
Senate: Doc 5-2387 - (2013/2014): project not referred by the Senate.