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See the copyright notice Conditions of use .
In accordance with the decision of the Parliament:
This law provides for a law on the special financial company (443/1998) , the development and extension of the credit, guarantee and other financial activities of the company, in particular the establishment, development and extension of small and medium-sized enterprises and their capacity-building.
Furthermore, the undertakings given by the company are laid down in the Act on State Export Guarantees (2003) , the Act on State Preferences 573/1972) , the Law on State guarantees and Export Guarantees for Investment in Environmental Protection (609/1973) And the State guarantees in order to safeguard basic raw materials (651/1985) . (9.12.2005)
Financial activities under this law may be allocated to the European Union's Structural Funds. The provisions of this Act on the credit, guarantee and recapitalisation activities of a specific State financial company shall also apply to structural funds allocated to such activities, unless European Union legislation or the Structural Funds (1401/2006) -subject. (21.12.2010/1225)
In accordance with the objectives referred to in Article 1 of the Law on the specific financial company, the company's credit, guarantees and other financial services may be directed towards the pursuit of business activities and also to the municipality to promote this purpose. The allocation of financial services to the company must take account of the sectoral restrictions on State aid resulting from the European Union. However, the company will not be able to target these financial services:
(1) in the case of construction business, for the purpose of renovation; or
2) forestry and not agricultural land or livestock farming.
(2.4.2004/235)The company must direct its credit and guarantee activities within the meaning of this law to small and medium-sized enterprises. Credit and guarantees for large companies can only be given for specific reasons. Capital guarantees may be granted by the company to small and medium-sized enterprises. Capital investment operations may be carried out by the company in order to recapitalise small and medium-sized enterprises. (21.12.2004)
Small and medium-sized enterprises, as defined in Commission Recommendation 2003 /361/EC, defined in Commission Recommendation 2003 /361/EC concerning the definition of micro, small and medium-sized enterprises Than 250 employees, with an annual turnover not exceeding EUR 50 million or a balance-sheet total not exceeding EUR 43 million, which meets the company's independence and other recommendations contained in the recommendation Characteristics. (2.4.2004/235)
The company can provide loans and provide other funding. The company may also carry out activities in which, as a provider of financing, it acquires the property or right to be assigned by the beneficiary and rents it to the beneficiary of its financing. (financial leasing) . Funding may be granted without security or collateral security.
The company may provide guarantees as collateral for loans or contingent liabilities. The guarantee may be granted as a form of self-debt, guarantee or other contingent liability. In order to reduce the risk of loss of life, collateral or collateral arrangements, which do not have to be secure, may be required.
The guarantee provided by a credit institution for the purposes of financial engineering for the provision of domestic capital goods to a domestic supplier or subscriber may also be provided where the creditor is other than that of Article 2 (3) Intended company. It is necessary to obtain the consent of the Ministry of Employment and the Economy to grant such a guarantee if the amount of credit exceeds eur 35 million. (21.12.2010/1225)
The guarantee of the company may be provided as collateral for the guarantee, principal, interest and other contributions under the terms of the guarantee, as well as the guarantee for the guarantee credit or the guarantee provided as collateral for the guarantee. The guarantee may cover, in whole or in part, the risk of loss or contingent liability.
The State shall be responsible for granting the company guarantees provided for in this Act. (9.12.2005)
The company may provide guarantees for the risk of loss arising from capital injections by credit institutions, venture capital funds and other entities and private individuals.
More detailed provisions on the granting, orientation and payment of capital guarantees are laid down by a regulation of the Ministry of Employment and the Economy. (21.12.2010/1225)
The company will be able to make capital injections into the funds and directly to the target companies, in line with the industrial policy objectives approved by the Ministry of Employment and the Economy. Particular attention should be paid to the recapitalisation of start-up and early-stage enterprises.
The company may be eligible for support for the venture capital operations referred to in Article 4b. Where aid is granted, the conditions and limitations of the granting of State aid under European Union law shall apply. The decision to grant aid is made by the Ministry of Employment and the Economy.
Aid co-financed by the Structural Funds shall be assigned to a company acting as an intermediate body, as provided for in Article 10 of the Structural Funds Act.
On the basis of the company's application, the aid to venture capital is paid by the Ministry of Employment and the Economy in the context of the State budget.
Before payment of the aid, the company shall submit a business plan or other equivalent document to the Ministry of Employment and the Economy, as well as a financing agreement concluded between the company and the fund.
For more detailed provisions on the content of the financial agreement, the application of the aid, the information required for the purpose of the aid, the procedure for the payment procedure and the monitoring, may be adopted by a Council Regulation.
In accordance with the financing agreement referred to in Article 4c (2) of the Financial Agreement referred to in Article 4d (2), the company shall award the aid to the Fund, in accordance with the financing agreement referred to in Article 4d (2), by making an investment in the Fund, paying the funds to the Fund, Recovery, monitoring of the use of funds and reporting to the Ministry of Employment and the Economy and the Monitoring Committee for the Operational Programme referred to in Article 6 (1) of the Structural Funds Act.
The Fund shall apply for financing from the company and, in accordance with the financing agreement referred to in Article 4d (2), shall decide on investment decisions in the undertakings it has chosen. The investment refers to an investment in a company in accordance with the terms of the investment agreement, against a share capital, an option loan or a similar financial instrument.
The company and the Fund shall, in addition to the financial agreement referred to in paragraph 1, in addition to what is contained in the legislation of the European Union, the conditions and conditions relating to the use of the funds invested, the Recovery and recovery, as well as provisions on the collection, storage and reporting of data relating to the monitoring of funds.
The company will be able to carry out studies and studies on the financing of enterprises and to carry out business development and service activities as well as advice.
When providing credit and guarantees, account must be taken of the importance of the activities to be financed in terms of overall economic development and appropriate regional investment and employment. Particular attention shall be paid to the financial conditions and to the viability of the recipient of the credit or guarantee, as well as to the ability of the company's management or the private trader to manage the company successfully.
Credit and guarantees must be taken into account in the Law on the Development of the Regions (1651/2009) And, where applicable, the Law on the general terms of enterprise support (786/1997) General objectives and conditions for business support programmes and business subsidies. In its activities under this law, the company shall take into account the differences in the level of sophistication of the different parts of the country in the application of the various financial measures and conditions. (21.12.2010/1225)
Credit and guarantees must be used to address shortcomings in the supply of financial services. Account must also be taken of the possibility for the company and other entities providing financial services to share the risk of loss arising from the said financial activities.
Paragraph 7 has been repealed by L 9.12.2005/993 .
The State Council may, under any circumstances, give undertakings to the company that:
(1) the State shall continue to pay the company, on an annual basis, the amount of interest-rate subsidies granted on a regionally differentiated basis ( Regional interest subsidy );
2) the State will continue to pay interest subsidies to the company in respect of loans for economic policy-specific reasons ( Special interest rate subsidy );
(3) the State shall reimburse the credit and guarantee schemes which may have been incurred in the operation referred to in Articles 3 and 4 ( Credit and guarantee aid );
(4) the State shall reimburse the costs of the services referred to in Article 5 ( Operating aid ); and
5) the State pays the company the aid to the guarantee commission to continue to be transferred to those for which the guarantee has been granted ( Guarantee commission aid ).
(21.12.2004)The interest subsidy referred to in Article 1 (1) (1) and (2) shall be based on the credits granted within the limits of the allocation of the State budget. Each year, the State budget determines the maximum amount of financing granted by the company in each year for which interest subsidies are to be paid in the year of issue and in subsequent years. The State Council's commitment to an interest rate subsidy may be temporary. (16/11/98)
The capital of the credit referred to in Articles 3 and 4 falling within the scope of the undertaking referred to in paragraph 1 (3) shall, at the same time, be recapitated without a total amount of EUR 4,2 billion in total amount outstanding. (12.06.2010)
In the exercise of public administrative functions relating to the handling of financial matters under Articles 3, 4, 4a and 4b, the company shall comply with the administrative law (2003) And languages (2003) Provides.
The staff of the company and the members of its institutions shall be subject to the provisions relating to criminal liability in the performance of the tasks referred to in paragraph 1. Liability for damages is governed by the law on damages (1999) .
The financial activities referred to in Articles 3, 4, 4a and 4b of the company shall be governed by the provisions of the law on public disclosure (18/09/1999) Provides. Secrecy is governed by Article 5 of the Special State Financial Company Act.
The company shall be entitled to inspect the granting, payment, use and control of the aid referred to in Article 4c. In addition, the company has the right to check the use of funds invested by the Fund if there are serious reasons for it.
The inspection shall be required to carry out the inspection without undue delay, without any undue delay, to provide the inspector with all the necessary supporting documents as well as other material relating to the use of the aid, as well as to assist in the inspection. The inspector shall have the right to take possession of the account documents and any other material referred to above if the inspection so requires. The material must be returned when it is no longer needed for inspection. At the request of the inspector, the inspection shall also provide the other information necessary for the proper performance of the inspection.
The verifier shall, to the extent required by the mission, verify all the elements required for the grant and payment of the funding, and for that purpose, access to the premises controlled or used. However, the inspection shall not be carried out in a place of domestic peace.
The company's statutory auditor shall be subject to the provisions relating to criminal liability. The obligation to replace the damage caused by the audit work is governed by the law on compensation. The inspector shall be subject to administrative law and language law. The publicity of the audit work shall be governed by the provisions of the law on public access to the public authorities. Secrecy is governed by Article 5 of the Special State Financial Company Act.
The payment of aid under Article 4c of this Act shall be suspended and the aid recovered from the Fund if:
(1) Whereas incorrect or misleading information has been provided for the purposes of the investment or control referred to in Article 4e, or the information has been encrypted and the disclosure of inaccurate or misleading information or the concealment of information has been essential; Impact on the granting of aid;
(2) the refusal to provide the necessary information, documents or other material, or for the purposes of carrying out an inspection, has been refused to carry out an audit of the beneficiary of other financial support; The obligations laid down in the law;
(3) the Fund has substantially failed to comply with the terms of the financing agreement referred to in Article 4d; or
(4) the Fund has ceased to be the object of the aid or has substantially reduced it until five years after the investment has been made.
Payment of aid under Article 4c of this Act may be suspended and recovered from the Fund if:
(1) the Fund has not complied with the terms of the financing agreement referred to in Article 4d;
(2) the fund has been declared bankrupt and its agents are engaged in the operation of the Fund either immediately before or after bankruptcy; or
3) The investment referred to in Article 4e has been wrongly carried out.
The Ministry of Employment and the Economy shall decide on the suspension and recovery of the payment of the aid referred to in Article 4c. The company shall submit to the Ministry of Employment and the Ministry of Industry a proposal for a suspension and recovery of the payment of aid if it becomes aware of the basis referred to in Article 8d (1) or (2).
The decision to conclude an appeal under Article 8e of the Ministry of Employment and the Economy shall not be appealed against. The decision shall be taken by the party concerned to apply for an adjustment within 30 days from the notification of the decision. The adjustment requirement shall be made to the authority which took the decision. The decision on the adjustment requirement may appeal to the administrative court, as in the case of administrative law, (18/06/1996) Provides.
The Fund shall be obliged to reimburse to the company funds paid from the European Regional Development Fund (erdf) from the European Regional Development Fund (erdf), which are not partially or definitively excluded from the operational programmes from the Fund to undertakings As capital injections.
The Ministry of Employment and the Economy may impose on the company the resources paid to the company from the Structural Funds and the corresponding State resources, or the amounts paid exclusively from State resources, or their part to be recovered from the company, if:
(1) the company has provided erroneous or misleading information or information has been withheld and the disclosure of incorrect or misleading information has had a material effect on the aid;
(2) the company has used the funds for purposes other than those granted or has materially infringed the provisions relating to the use of funds or the conditions laid down in the decision to allocate the funds.
The implementation of the European Commission Decision on the right of the Ministry of Employment and the Economy to recover State aid is governed by the Law on the application of the European Communities' provisions on State aid (2003) .
The beneficiary shall pay the amount of the aid to be repaid or to be recovered from the date of payment of the aid (633/1982) (2) plus three percentage points plus the annual rate. Interest shall not, however, be paid when the funds are returned on the basis of Article 8g of this Law.
If the amount to be recovered is not paid at the latest on the maturity date fixed by the Ministry of Employment and the Economy, it shall be subject to annual default interest. Article 4 of the Corinth Act According to the interest rate referred to in paragraph 1.
More detailed provisions on the implementation of this law shall be adopted, where appropriate, by a regulation.
This Act shall enter into force at the time laid down by the Regulation.
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 53/1998This Act shall enter into force on 30 December 1999.
The Act is in force until the end of 2004, subject to the financing decisions for the loan and guarantee position transferred from Arsenal-SSP Oy, which has been awarded during the period of validity of the Act.
THEY 160/1999 , TaVM 16/1999, EV 121/1999
This Act shall enter into force on 27 April 2000. Article 8 (1) (1) shall apply from 1 January 2000.
THEY 12/2000 , TaVM 6/2000, EV 43/2000
This Act shall enter into force on 1 July 2001.
THEY 215/2000 , TaVM 5/2001, EV 39/2001
This Act shall enter into force on 1 December 2001 and shall apply from 1 January 2002.
THEY 148/2001 , TaVM 16/2001, EV
This Act shall enter into force at the time of the Council Regulation. However, Article 2 (3) shall apply from 1 January 2005. (L 235/2004 entered into force on 15 July 2004 in accordance with Form A 626/2004)
THEY 163/2003 , TaVM 1/2004, EV 2/2004
This Act shall enter into force on 1 January 2005.
THEY 218/2004 , TaVM 23/2004, EV 180/2004
This Act shall enter into force on 1 January 2006.
IN 177/2005 , TaVM 19/2005 EV 152/2005
This Act shall enter into force on 1 January 2009.
THEY 211/2008 , TaVM 29/2008 EV 214/2008
This Act shall enter into force on 1 January 2011.
Before the law enters into force, measures may be taken to implement the law.
THEY 253/2010 , TaVM 32/2010, EV 253/2010
