The Law On State Guarantees For Certain Sectors Of Industry

Original Language Title: Laki eräiden elinkeinoalojen valtiontakauksista

Read the untranslated law here:

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In accordance with the decision of the Parliament, provides for: 1 section (in answer to the/51) for the development of small and medium-sized enterprises, in order to improve the conditions for the establishment and operation of the extension, may be the responsibility of the domestic and foreign loans or commitments to provide State guarantees in accordance with this law. The State guarantees will be given a guarantee on behalf of the companies, which primarily for business opportunities in the productive or service activities is a key element.
The State guarantee cannot be given as security for a credit or a commitment to the provision of the services by the user to be directed immediately to the consumer, except in the case of the tourism industry, or työliiketoiminta. Notwithstanding the above restrictions, the State guarantee can be given to the acceptance of the credit or responsibility, which is estimated to significantly contribute to the technological development of the company, the industry or the improvement of the working methods, or to become more competitive at international level. The State guarantee does not, however, be given as security, acceptance of the credit or responsibility, which is used for the actual farm economy.
The State guarantee can only be given by a real estate company's acceptance of the credit or responsibility, which is designed to serve companies whose loans may be granted under paragraph 1 and 2 of the State guarantee. If the property of the shareholders of the company other than a company operators, whose company loans or commitments can be and (2) of the State guarantee, on the basis of the State guarantee granted to give for this kind of real estate company only for specific reasons.
A guarantee by a credit institution and a consumer for the granting of credit in domestic capital goods for the domestic financial arrangement for delivery to the vendor or subscriber, can the State guarantee will also then, when luotonsaajana is other than an undertaking within the meaning of paragraph 1 or 2.
Under this law the State guaranteed by the credit guarantee credit facility it is said below. For the purposes of the security responsibility for the commitments in order to meet the terms of the supply contracts to offer an undertaking.

section 2 (5.5.1978/328), the purpose of the Guarantee of the credit usage will be a business activity for the purposes of article 1 of the necessary for the acquisition of fixed assets, the change, repair and improvement work and not earlier than two years prior to applying for initiative of the guarantee of the above investments in short-term debt incurred by the consolidation.
The guarantee of the credit use can also be accepted for the financing of the working capital required for business operations, as well as the financing of product development and marketing of products. (27.11.1981/810)
The State guarantee to guarantee a credit may also be granted by article 1, paragraph 3, of the said business operator needs another ' articles or an undertaking as referred to in the acquisition of the shares or units.
The State guarantee may also be in the responsibility of the undertaking referred to in the law as a guarantee. Article 3 (3.4.1992/293) (17.2.1995/205) the State guarantee can be given to the guarantee of the credit capital, the interest rate and credit guarantee, as well as other payments under the terms of the guarantee of the credit or responsibility to guarantee the undertaking to guarantee only as a guarantee. The guarantee can cover the guarantee of the credit risk of loss or liability, in whole or in part, of the commitment.
In the form of a State guarantee may be given in the form of a omavelkaisena, or any other commitment.

section 4 (3508/92/1150) to Guarantee loans and contingent liabilities must not at the same time to be valid for a total maximum quantity of 6 000 million, interest and other payments in addition to the performance of any of the capital, according to the reading. To calculate the number of the foreign credit Bank of Finland at the time of the adoption of the currency, to be determined by the guarantee, according to the average rate in force. The rate of the Bank of Finland from the list permanently missing currency rate will be calculated using this currency at the time of adoption of the current international exchange rate guarantee in a currency exchange rate of the Bank of Finland, which is available. (17.2.1995/205)
For granting a State guarantee referred to in article 1 (4) of the credit line is to get the consent of the Ministry of trade and industry, if the amount of the credit is more than 200 million markkas [FIM].

section 5 of the State guarantee can be granted, when it is deemed necessary for the company's financing and collateral arrangements. (27.11.1981/810)
In order to reduce the risk of the loss of the State may require collateral or collateral arrangements, for which there is no need to be security. (17.2.1995/205)
The granting of State aid in the form of guarantees is to pay attention to the importance of the undertaking referred to in article 1, the general economic development of livelihoods and meaningful in terms of regional investment and employment protection. Particular attention needs to be paid to the company's operations to identify the economic conditions and the viability of the development of both the entrepreneur and the management of the enterprise's ability to manage the company successfully. (5.5.1978/328) of 6-7 section 6-section 7 is repealed L:lla 27.11.1981/810.

section 8 (18 June 1998 that the/453) the implementation and application of this law is the law on the State erityisrahoitusyhtiöstä (443/1998) referred to the company's mission.

section 9 (18 June 1998 that the/453) In the law of guarantees and other charges as well as the provision of compensation is valid, what the State of the Guarantee Fund Act (445/1998).

10-14 section 10-14 section has been repealed L:lla 3.2.1989/113.

for details on the implementation of the provisions of article 15 of this law and shall be adopted for the application of regulation.
In this Act, no longer State to State guarantees referred to in erityisrahoitusyhtiön of the law on the functioning of the credit and suretyship (445/1998) entered into force. This law shall apply to the State guarantee referred to in this Act from the State guarantees of the Centre. (18 June 1998 that the/453)

This law shall enter into force on 1 August 1963. Measures for the establishment of the guarantee institution of small industry and its activities, however, can be taken even before the entry into force of the law.

The change of the date of entry into force of the acts and application: 5.5.1978/328: this law shall enter into force on 15 May 1978.
Article 3 of this law, of the provisions of paragraph 3 and 4 shall also apply for State guarantees.

27.11.1981/810: this law shall enter into force on 1 January 1982.
The granting of a State guarantee, which the State guarantee institution has made the decision before the entry into force of this law, shall be applied in the past, the law in force.
THEY'RE 111/81, vvvk. bet. 50/81, svk. Mrs. 105/81 3.2.1989/113: this law shall enter into force on 1 September 1989.
THEY'RE 201/88, vvvk. bet. 77/88, svk. Mrs. 199/88, 3.4.1992/293: this law shall enter into force on 8 April 1992.
THEY 236/91, tvk. Mrs. 4/3508/92 92/1150: this law shall enter into force on 2 December 1992.
In accordance with article 4 of the law of the average rate set by the Bank of Finland shall apply as from 18 September 1992.
THEY 257/92, TaVM 40/92 17.2.1995/205: this law shall enter into force on 1 March 1995.
THEY 352/94, in answer to the 55/94/51 TaVM: this law shall enter into force on 1 February 1996.
THEY 171/27/95, 95, TaVM EV 18 June 1998 that the 168/95/453: this law shall enter into force at the time of the decreed. (L 453/1998 came into force on 1 January 1999, in accordance with A 818/1998.)
Before the entry into force of this law may be to take the measures needed to implement the law.
THEY'RE 35/1998, 11/1998, PeVL TaVM 12/1998, EV 53/1998