Amendments To The Cabinet Of Ministers Of 2 August 2011 Rules No 613 "terms Of Mezzanine Capital Loans Business Competitiveness Of Operators"

Original Language Title: Grozījumi Ministru kabineta 2011.gada 2.augusta noteikumos Nr.613 "Noteikumi par mezanīna aizdevumiem saimnieciskās darbības veicēju konkurētspējas uzlabošanai"

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Cabinet of Ministers Regulations No. 425 Riga, 19 June 2012 (pr. No 34 27) amendments to the Cabinet of Ministers of 2 august 2011 rules no 613 "rules about mezzanine capital loans business competitiveness of operators ' Issued in accordance with the Cabinet of Ministers Act article 31 equipment, first paragraph, point 3 to make Cabinet 2, 2011 rules no 613" rules about mezzanine capital loans business competitiveness of operators "(Latvian journal, 2011, no 129, 168.) the following amendments: 1. Make the second sentence of paragraph 2, the following : "It is subordinated to the credit institution or its subsidiaries provided long-term credit or financial leasing and is reinforced by a lower layer than the security the credit institution or its subsidiaries provided long-term credit or capital lease." 2. Make the following point 8: "8. the lending arrangements shall be determined in accordance with the civil law contracts concluded between the Latvian guarantee agency, the economic actors and the credit institution or its subsidiaries." 3. Express 9.8. subparagraph by the following: "6.1. operations with real estate, except for investments in existing real estate energy efficiency;". 4. Delete the 9.12, 9.13, 9.14..., 9., 9.16, 9.17 and 9.18... 5. Express 10.4 10.5 and 10.6., subparagraph by the following: "10.4. economic operator having to loan application day losses more than half of the share capital and the last 12 months – a quarter of the capital losses, ascertainable and 10.6. these regulations referred to; 10.5. the economic operator in accordance with the last two years, the financial statements and the last available operational financial statement on a loan application day is observed in ailing economic analyst signs-damage increase, the reduction in turnover, declining cash flow, debt, interest payments rise, stock inventories, low liquidity, falling or null and the value of the assets of 10.6. these provisions show referred to; 10.6. the economic operator who is not able to cover the losses from its own resources or with the funds it is able to obtain from its members, shareholders, members or creditors, and it could not stop losses, without which national authorities external intervention in the short or medium term will result in the offender's economic activities could continue. " 6. To make 17 and 18 the following: "17. Loan maximum amount is 700 000 LVL, and it does not exceed 40% of the contribution to the eligible costs of the project. 18. Economic operator provides a financial contribution (including its subsidiary credit institution or the issuing of long-term credit or financial leasing) at least 25% of the contribution to the eligible costs of the project, and it does not cover from State aid. " 7. Make 20 and 21 as follows: 20 loan "with the condition that the investment cost of the project is financed by the credit institution or its subsidiaries long-term loans issued or capital lease, the amount of which is not less than the amount of the loan and the repayment of principal deferred shall not exceed two years. 21. the year of the loan interest rate is equal to the credit institution or its subsidiaries long-term credit or financial leasing interest rate plus the rate of increase (annex) according to economic analyst and investment project assessment category and the security level, which is determined in accordance with Latvian guarantee agency's credit quality rating system. The first two years of the loan increase rate is reduced by 50%. " Prime Minister v. dombrovsky Minister d. Pavļut Economy in the

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