Ordinance To The Law On Support For Danish Investments In Eastern Europe

Original Language Title: Bekendtgørelse af lov om støtte til danske investeringer i Østlandene

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Table of Contents

Publication of the law on support for Danish investments in Eastern countries

This shall be the subject of the law. 828 of 19. In December 1989, support for Danish investments in the East, with the changes that result from law no. 1137 of 21. December 1994 and Law No 824 of 25. November 1998.

Target statement

§ 1. The aim of Denmark's support for Danish investment in Eastern countries must be to assist the reformist forces in these countries in achieving greater economic growth and economic development and the promotion of closer economic cooperation between the Member States ; Denmark and the countries of Eastern Europe, which will be of benefit to the general East-West-relationships and which will be able to benefit Danish business and employment.

Investment Fund for Eastern Countries

§ 2. A fund to promote investment in these countries in cooperation with the Danish economy is being set up, the fund is a self-employed institution called the Investment Fund for the Eastern countries.

Paragraph 2. A grant may be granted by the State Fund for the Fund ' s activities. The Fund may also receive contributions from business organisations, individual companies or private persons, in the form of cash grants or guarantees capital.

Paragraph 3. The Fund may provide support for Danish investments in the Eastern countries by means of asset drawing, financing studies on investment opportunities and other initiation measures, borrowing, provision of guarantees and guarantees, training, advice ; and other measures which, after the discretion of the Management Board, can promote the purposes of the Fund.

Paragraph 4. The Fund is led by a Board of Directors whose members, for three years at a time, are appointed by the Foreign Minister, who also appoints the chairman and vice-chairman of the Members. The daily business of the Fund shall be provided by a director who is also appointed by the Foreign Minister. The costs of the fund management shall be provided by the Fund ' s resources.

Paragraph 5. The detailed rules for the Fund ' s activities shall be laid down in a Staff Regulations approved by the Foreign Minister.

Guarantee scheme for investments in Eastern countries

§ 3. The Secretary of State may, within a monetary framework of EUR 3.5 billion, be available. DKK provide a guarantee to undertakings belonging to Denmark against losses in connection with direct investment in the countries of the East and thus on an equal loan.

Paragraph 2. Guarantee may only be awarded against losses caused by political conditions such as nationalisation and, consequently, equal public measures, obstacles to the transfer of payments, acts of war or similar in the country in which the investment is Made.

Paragraph 3. For granted guarantees, a risk premium shall be paid for in a guarantee fund used for the loss of losses.

§ 4. The law shall enter into force on the day following the announcement in the law.

State Department, the 171. September 2010

Lene Espersen