Advanced Search

The Law On The Protection Of The Environment And Energy On State Guarantees For Investment In

Original Language Title: Laki ympäristönsuojelu- ja energiainvestointeihin myönnettävistä valtiontakauksista

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$40 per month.

Law on State guarantees for environmental protection and energy investments

See the copyright notice Conditions of use .

In accordance with the decision of the Parliament:

ARTICLE 1 (25.3.2010, P.

Undertakings for the protection of the aquatic environment, investment in the protection of the environment and the investment in waste ( Environmental protection investments ) And projects to improve renewable energy projects and energy efficiency projects in Finland ( Energy investments ) To finance loans and other financing in the form of a law on the specific financial company of the State (443/1998) A company ( Special financial company ) May grant State guarantees as provided for in this Act. The State guarantee may also be granted as collateral for the conversion, repair or upgrading of such a project.

The State guarantees referred to in paragraph 1 may be provided irrespective of the size of the undertaking. When the guarantee is given, attention must be paid to the efficiency and profitability of measures resulting from investments in environmental protection and energy investments.

In this law Guarantee credit Means any credit or other financing guaranteed by a specialised financial company under this law.

§ 1a (25.3.2010, P.

Investment in the Finnish environment in order to significantly improve the environment in Finland ( Foreign investment in environmental protection ) The special financing company may grant State guarantees as provided for in this Act.

ARTICLE 2

The State guarantee may be provided as collateral on the principal, interest and credit conditions of the guarantee credit.

The State guarantee shall be granted as a self-imposed guarantee or as a contingent liability. (25.3.2010, P.

The special financial company may require the guarantee credit institution to provide the security it has accepted. (25.3.2010, P.

However, the State guarantee centre may require a guarantee to be granted to the Guarantee Fund. (29.6.1990/597)

ARTICLE 3 (25.3.2010, P.

Before granting a State guarantee to environmental protection investments or energy investments, a special financing company shall provide an adequate explanation of the appropriateness and effectiveness of the investment in respect of investments in environmental protection With regard to environmental protection and recovery, as well as to energy investment in terms of renewable energy objectives, reduction of greenhouse gas emissions or improving energy efficiency.

In the case of foreign environmental investments, the special financial company shall, in addition to the report referred to in paragraph 1, obtain an opinion from the Ministry of Foreign Affairs on the appropriateness of the investment.

§ 4 (25.3.2010, P.

In order to safeguard the interests of the State in relation to the risk of loss arising from the guarantee activities referred to in this Act, insurance, guarantees, swap contracts and other arrangements may be hedged ( Hedging arrangements ).

§ 5 (25.3.2010, P.

In the case of guarantee loans granted under this Act, a total amount of eur 1 000 million shall not be repaid at the same time, while the guarantee liability of the guarantees referred to in Article 1a shall not exceed EUR 100 million. For the purposes of calculating the guarantees referred to above, account shall be taken of the guaranteed capital of the credits covered by the guarantees which entered into force and of the binding guarantee bids of half of the subscribed capital.

The amount of credit other than the euro shall be calculated on the basis of a reference exchange rate published by the European Central Bank. The exchange rate of the missing currency on the European Central Bank shall be calculated using the currency guarantee at the current international exchange rate in a currency to which the European Central Bank is available.

ARTICLE 6 (25.3.2010, P.

Decisions on guarantees referred to in the Act may be charged with a handling fee which takes account of the workload and costs incurred in connection with the processing.

Guarantees for guarantees referred to in the law shall be subject to a guarantee fee, taking into account the length of the risk period, the creditworthiness of the risk subject and other factors affecting the risk.

§ 6a (25.3.2010, P.

The guarantees referred to in this Act are managed by the special financial company referred to in Article 1. The company shall also lay down the general terms and conditions applicable to guarantees and guarantees, as well as the contracts referred to in Article 4 and the hedging arrangements and other commitments.

§ 6b (25.3.2010, P.

The special financial company shall comply with the guarantees provided for in this Act and shall, when managing them, comply with the administrative law (2003) And languages (2003) Provides.

The staff of the company and members of its institutions shall be subject to the provisions of criminal law relating to criminal law when dealing with matters referred to in this Act.

Liability for damages is governed by the law on damages (1999) .

§ 6c (25.3.2010, P.

Public access to documents and restrictions on access to information and confidentiality are laid down in the law on public access to documents (18/09/1999) And Article 5 of the State Special Financial Company Act.

§ 7

More detailed provisions on the implementation of this law shall be adopted, where appropriate, by a regulation.

§ 8

This Act shall enter into force on 1 October 1973.

Entry into force and application of amending acts:

25.4.1984/319:

This Act shall enter into force on 1 June 1984.

HE 13/84, yyyy. 9/84, svk.M. 14/84

29.6.1990/597:

This Act shall enter into force on 1 July 1990.

HE 55/90, yyyy. 19/90, svk.M. 58/90

5.4.1991/636:

This Act shall enter into force on 1 May 1991.

HE 311/90, yyyy. 101/90, svk.m. 320/90

10.12.1993/1142:

This Act shall enter into force on 1 January 1994.

THEY 261/93 , TaVM 43/93

24.1.1995/77:

This Act shall enter into force on 1 March 1995.

THEY 241/94 , YmVM 14/94

18.6.1998/450:

This Act shall enter into force at the time laid down by the Regulation. (From 1 January 1999, L 450/1998 came into force on 1 January 1999.)

Before the entry into force of this Act, measures may be taken to implement the law.

THEY 35/1998 , TaVM 12/1998, Pevie-11/1998, EV 53/1998

22.12.2009/1573:

This Act shall enter into force on 1 January 2010.

Before the entry into force of this Act, measures may be taken to implement the law.

THEY 161/2009 , HVM 18/2009, EV 205/2009

25.3.2011/27:

This Act shall enter into force on 1 April 2011.

THEY 298/2010 , TaVM 45/2010, EV 317/2010