Publication of the amendment of the notice on the operation of the Growth Fund

§ 1

Notice no. 1013 of the 17. August 2007 on the operation of the Growth Fund shall be the following changes :

1. I Section 15 (3). 1, the words ' financial institutions ' shall be replaced by the words ' credit institutions '.

2. I Section 15 (3). 2, the following ' generation of generation ` means the following : 'operations in the context of development activities'.

3. Section 15 (3). 4 ITREAS :

" Stop. 4. Guarantees may be granted for lending to all professions, provided that the element of State aid to which the guarantees contain does not exceed the limits set by the individual professions applicable to legitimate state aid. ` ;

4. I section 16 (4). 3 the words ' financial institution ` shall be replaced by ' credit institution `.

5. I section 16 (4). 1 ' financial institution ` shall be deleted : ' or other lending '. Furthermore, 'financial institution' is replaced by 'credit institution'.

6. section 16 (4). 4 ITREAS :

" Stop. 4. The details of the guarantees will be laid down in framework agreements between the Growth Fund and the Realcredited, the RealCredit Association, and the Finance institutions, such as credit institutions, real credit institutions and other lending establishments, under public supervision, can be in public. The credit institution shall be submitted on the basis of a credit rating and on behalf of borrowers for the Fund for the Growth Fund. The Growth Fund shall ensure that the other conditions have been met. The Growth Fund must approve the terms of the agreement of the loans and may, in particular, require additional security. In addition, the Growth Fund may provide a renting interest rate for newly issued guarantees. ` ;

7. section 16 (4). 5 ITREAS :

" Stop. 5. The Growth Fund may give credit institutions the authority to provide guaranteed loans within a certain framework without the approval of the Growth Fund in each case. Credit institutions wishing to benefit from such a scheme must demonstrate that they are able to administer the scheme appropriately. It should be included in the assessment of the Growth Fund in the extent to which credit institution has granted loans guaranteed by the Growth Fund and that it has not had any difficulty in compliance with the scheme, including the size of business size and pawn-use requirements. It should also be included in the assessment of the establishment of a credit institution with a low loss rate centre. The Growth Fund shall lay down the procedures for the handling of these guarantees and the conditions for this, and the termination of the contract. The Growth Fund may, by means of an agreement with one or more credit institutions, make the whole or part management of loan guarantees or loan guarantee areas to these. ` ;

8. I section 16 (4). 6 the ' Penalty institution ` shall be replaced by ' the credit institution '.

9. I section 16 (4). 7 the words ' financial institution ` shall be replaced by ' credit institution `.

10. I section 16 (4). 8 the words ' financial institution ` shall be replaced by ' credit institution `.

11. The following section 16 is inserted :

" § 16 A. Loans that

1) are used for the utilisation of or new investment in assets which may be mortgage-credited ; and

2) ensuring that the mortgage payment value of the asset ' s mortgage credit value is fully safeguarded may only be guaranteed for the repayment of the half of the loan, which shall have the maximum priority position. For this part of the loan, the guarantee may constitute a maximum of 75%, jfr. § 16, stk.1.

Paragraph 2. In the calculation of the size of the loan, the total projectoms of the loan may be taken into account as a loan must contribute to the financing and thus be disregarded in the calculation of the capital funding that the lender deposits into the project. However, the guarantee may never amount to more than 75% of the actual loan actually granted.

Paragraph 3. The special conditions applicable in accordance with paragraph 1. 1 and 2 shall cease on 1. January, 2011, after which guarantees may be given for lending, as referred to in paragraph 1. 1 without restrictions other than those applicable in accordance with sections 15 and 16. ` ;

12. I § 27, paragraph. 1 change ' section 5 (2). 6, no. 1 ' shall : ', section 5 (4). 5, no. 1 '.

§ 2

The announcement will enter into force on the 19th. March, 2010.