Key Benefits:
See the copyright notice Conditions of use .
In accordance with the decision of the Parliament:
Credit institutions, as well as other entities, funds and private persons, shall be eligible for State guarantees as laid down in this Act.
A State guarantee may be granted in the event that the investor referred to in Article 1 is liable for a loss in the form of a capital injection which it has made under the State guarantees of certain economic sectors. (375/1963) The undertaking referred to in paragraphs 1 and 2. (17.10.1997)
A State guarantee may also be given to a location of investment, consisting of a number of investments in undertakings within the meaning of paragraph 1 ( Framework guarantee ).
For the purposes of this law, a small and medium-sized enterprise means an undertaking which:
1) the staff shall not exceed 250 persons; and
2) an annual turnover not exceeding EUR 230 million or a balance-sheet total not exceeding EUR 155 million.
(17.10.1997)However, a small and medium-sized enterprise shall not be considered as:
(1) a limited liability company with a share capital of one or more non-small or medium-sized enterprises exceeding 25 %;
(2) an open company other than a small or medium-sized enterprise as a company man; and
(3) a commandites company with a non-small or medium-sized enterprise as a liability company.
The company referred to in paragraph 1 shall have its registered office abroad if the capital injection abroad is estimated to contribute to the technological development of a company within the meaning of Article 1 (1) and (2) of the Law on State guarantees for certain economic sectors. Development, improvement of operating procedures or the development of international competitiveness. (17.10.1997)
A State guarantee shall be granted for a maximum of 50 % of the risk of loss arising from a capital injection. (17.10.1997)
The State guarantee is granted without requiring a counter-guarantee.
State guarantees deal with the State Special Financial Company Law (443/1998) Intended company (special financing company) . (18.06.1998/452)
At the same time, guarantees granted under this Act shall not exceed a total of DEM 500 million.
On the basis of the State guarantee, the investor, as referred to in Article 1, shall be replaced by the part of the guarantee covered by the guarantee, which is the recipient of the underlying capital injection. (17.10.1997)
The loss referred to in paragraph 1 shall be deemed to have been incurred when the investor disposes of a remuneration or a formal consideration for its investment or when the company which is the subject of the investment is declared bankrupt or liquidated.
The loss shall also be deemed to have been incurred when the disposal price obtained in the context of the liquidation of the investment undercovers the capital invested. (19.08.1994/72)
In the event of an investor's withdrawal from an investment without remuneration, or in return for consideration, which is manifestly disproportionate to the value of the investment, the payment of compensation may be subject to the condition that the rights relating to the investment in equity Shall be transferred under equivalent conditions to a special financing company which, in such a case, is entitled to continue to dispose of the rights thus transferred as it considers appropriate. (18.06.1998/452)
In the case of guarantees and other charges, as referred to in this Act, and in the case of compensation, the provisions of the Law on the Guarantee Fund (444/1998) Provides. (18.06.1998/452)
In addition to the guarantee fees, the remuneration in accordance with this Act may be recovered from the value of the investment in the guarantee agreement. The compensation shall not exceed 30 % of the output of the guarantee covered by the guarantee. (19.08.1994/72)
More detailed provisions on the implementation of this law shall be adopted, where appropriate, by a regulation.
This Act shall enter into force on 1 August 1992.
This law shall apply to State guarantees granted under this Act from 1992 to 2000. (17.10.1997)
THEY 65/92 , TaVM 23/92This law comes into force on 1 November 1997.
The law shall apply to State guarantees granted on or after 1 January 1997.
THEY 264/1996 , TaVM 18/1997, EV 116/1997
This Act shall enter into force at the time laid down by the Regulation. On 1 January 1999, L 452/1998 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
