The Law On State Guarantees

Original Language Title: Laki valtion alustakauksista

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Read the untranslated law here: http://www.finlex.fi/fi/laki/ajantasa/1972/19720573

In accordance with the decision of the Parliament, provides for: 1 section (21.12.2004/1243) a Finnish shipbuilding or ship, directly or indirectly, of the shipping agents credit granted to the company or the rest of the law on the financing of the State erityisrahoitusyhtiöstä (443/1998) for the company (the special financing) may grant the ship guarantees in accordance with this law.
Erityisrahoitusyhtiön under this law guaranteed by the credit or other financial guarantee is called the penalty.


section 2 (23.12.1977/1031) to finance the shipping company for the purpose of the guarantee of the credit to the user must be at least 10 metres long and up to 10-year-old trade body to be used for the acquisition of a ship or of its Finland or from abroad or the financing of the acquisition of such a vessel stabilization. Ship guarantee may also be granted to ship the change, repair, or improvement works for credit guarantee. (21.12.2004/1243)
In order to finance the shipbuilding company for the purpose of the use of the credit guarantee must be the provision of credit to the Finnish shipping delivery agents for the company referred to in subsection 1, the purchase of a ship or of its hull or ship the change, repair or improvement work. Ship to guarantee the financing of such a project may be granted also for rakennusaikaista. (21.12.2004/1243)
The State guarantee is granted by the issuer of a debt-to-equity consolidation, or the guarantor for the other domestic credit institutions like the special financing. Such a credit to pay for the credit, however, can be used in the interest of the specific reasons for granting a State guarantee. (18 June 1998 that the/449) 3 section (21.12.2004/1243) a guarantee can be given to the guarantee of the credit capital Ships, interest and other payments under the terms of guarantee.
The ship in the form of a guarantee given to omavelkaisena or any other responsibility commitment.


section 4 (21.12.2004/1243) as security for the guarantee of the credit or guarantee is given only by the security erityisrahoitusyhtiön. The special financing can accept only collateral that is not protective.
Ship guarantee can be a special reason within the meaning of subparagraph (1) until the security issue also being required.


4. (a) section (21.12.2004/1243) in order to safeguard the interest of the State in the activities referred to in the law of the vessel in the event of the risk of loss to the guarantee protection insurance, guarantees, agreements, and other arrangements for deposit liabilities (hedging).


section 5 (21.12.2004/1243) under this Act granted the ship guarantee credits and currency hedging arrangements must not at the same time be back without paying a maximum amount of EUR 1 350 million in interest and other payments in addition to the performance of any of the capital, according to the reading. The liability of the guarantee referred to in paragraph 1, account shall be taken of the loans covered by the guaranteed capital, which have entered into force guarantees and binding offers for half of the credits, which are enshrined in the capital guarantee. Hedging liability caused by the taking into account of the arrangements as laid down by the regulation of the Ministry of trade and industry.
Other than the euro shall be calculated on the amount of credit for the currency concerned, published by the European Central Bank, the guarantee granted by the reference rate in force. The rate of the European Central Bank from the list of the missing currency exchange rate will be calculated using this currency rate of the current international force for the granting of the guarantee in the currency, which is available at the rate of the European Central Bank.


section 6 (31.12.1985/1094) the granting of State guarantees special attention must be paid to the conditions of the commercial activity, the importance of the project for the construction of the employment aspects and the operation of the ship or a company engaged in shipping activities as far as possible.


section 7 (18 June 1998 that the/449) for the purposes of this law as regards the State guarantees is otherwise referred to, where applicable, in effect, what the Act on State guarantees for certain sectors (375/1963).


section 8 (21.12.2004/1243) section 8 is repealed L:lla 21.12.2004/1243.


8 (a) section (21.12.2004/1243) a ship may be charged for processing a payment guarantee to the decisions that will be taken into account when determining the amount of work and cost incurred by the processing caused by.
The fee for the guarantee, the guarantee that the vessel when determining the length of time, taking into account the risk of the credit rating of an item and the risk of other katettavaan risk factors, as well as competition factors.


section 9 (18 June 1998 that the/449) section 9 is repealed by the 18 June 1998 that the L:lla/449.


section 9 (a) (21.12.2004/1243) a vessel referred to in article 1 shall be managed by the guarantees, the special financing. The company also confirms the general terms and conditions applicable to the guarantees, as well as the ship makes the agreements referred to in article 4 (a), the hedging arrangements and other commitments.


section 9 (b) (21.12.2004/1243) Erityisrahoitusyhtiön is the ship comply with the guarantees and in administering them, the administrative act (434/2003) and the language Act (423/2003).
The company's staff shall be subject to the provisions of criminal law concerning liability, when the matters referred to in this.


9 (c) of section (21.12.2004/1243) Erityisrahoitusyhtiön of the activities referred to in this Act from the public eye is valid, what the Act on the openness of government activities (621/1999) and the law on State erityisrahoitusyhtiöstä 5.


section 10 (21.12.2004/1243) for details on the implementation of the provisions of this law shall be adopted, where necessary, regulation of the Council of State.
The provisions of the regulation of the Council of State shall also guarantee the principles to be followed for the operation of the ship for more on the ship in accordance with the arrangements for granting the loan guarantees and other instructions, as well as the General conditions of a ship in respect of guarantees.


Article 11 of this law shall enter into force on 1 August 1972.

The change of the date of entry into force of the acts and application: 23.12.1977/1031:5.5.1978/329: this law shall enter into force on 15 May 1978.
The provisions of this Act shall also apply for State guarantees.




27.11.1981/811: 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, Staub, SuVM 105/50/81 81 31.12.1985/1094: this law shall enter into force on 1 January 1986.
THEY are 175/85, Staub 76/85, 114/85, 3.2.1989/SuVM 156: this law shall enter into force on 1 September 1989. Section 5 of the Act, however, will enter into force on 1 March 1989.
THEY'RE 201/88, Staub 77/88/88 of 23 November 1990, 199, SuVM/998: this law shall enter into force on 1 December 1990.
THEY'RE 115/90, Staub 34/90, SuVM 95/90 10.12.1993/11: this law shall enter into force on 1 January 1994.
THEY'RE 262/93, 42/93 of 18 June 1998 that the TaVM/449: this law shall enter into force at the time of the decreed. ((L) 449/1998 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 21.12.2004/1243: this law shall enter into force on 1 January 2005.
THEY 217/2004 TaVM 22/2004, EV 179/2004