Article 10
Special statuses

1. Special aid statuses
By virtue of presidential decrees, issued following relevant recommendation of the Ministers of National Economy and Development, as well as any other competent minister, in the context of balanced re-gional development, it is possible for Special aid statuses to be enacted for regions of the country or parts thereof or certain categories of undertakings or investments, under article 3, of particular importance for the country's economic development. Prior to the issue of any presidential decree, a feasibility study has to be elaborated documenting the above.
Such presidential decrees shall stipulate: the validity period of special statuses, the departments or bodies to which applications seeking eligibility for such spe-cial status shall be submitted, as well the time limits for the submission thereof, the amount of approved grants and leasing subsidies in the framework of the specific special aid status throughout its duration, as well as the allocation of such amount per department or body and per submission period. Equally, the per-centage of own participation, grant, interest subsidy, leasing subsidy as well as any other required detail shall be stipulated by the presidential decree.
Each presidential decree may stipulate special addi-tional eligibility criteria. Moreover, the marking sys-tem, the way in which the common and additional cri-teria under article 7 operate and shall be imple-mented, as well as any special additional criteria shall be stipulated thereby.
The above eligibility criteria shall be applied indi-vidually to investments and/or equipment leasing pro-grams which shall be eligible for such Special aid en-acted by each presidential decree.
A summary of the contents of the presidential de-cree shall be published in two daily political newspa-pers and two financial newspapers of panhellenic cir-culation. Additionally, a summary thereof is also sent to the EC office for official publications to be published in the EC Official Journal.
All other issues pertaining to investments and/or equipment leasing programs eligible for the Special aids under this paragraph, are subject to all the other provisions of this law.
2. Rescue and restructuring business plans
Manufacturing or mining undertakings, solely of old organisations, which employ no less than 150 people and are in an ailing situation, may submit an inte-grated 2 to 3-year rescue and restructuring business plan, which shall include its technological, administra-tive, organisational and business modernisation, re-form and development, and potentially the required staff training actions. The terms and conditions to be met by the undertaking, so that it may, according to the judgement of the competent department and advi-sory committee, be deemed to be in an ailing situation and, therefore, examined whether it is eligible for the grants under this paragraph, shall be defined by joint decision of the Ministers of National Economy, Devel-opment and Labour and Social Insurance.
Equally, the percentages of grant, interest subsidy and/or leasing subsidy, as well as the additional forms of aids and the extent thereof, provided for rescue and restructuring business plans, any additional required supporting documents and data accompanying the application, as well as any other necessary detail, shall also be stipulated by the same decision.
The eligibility criteria, the evaluation details, the way in which such criteria operate and are applied to res-cue and restructuring business plans shall be defined by the joint decision under para.4 of article 7.
All other issues pertaining to the eligibility of rescue and restructuring business plans are subject to all the other provisions of this law.
3. By virtue of joint decisions of the Ministers of Na-tional Economy and Development, as well as any other competent minister, eligible for the provisions of these presents shall be industrial, mining and tourist investments and/or equipment leasing programs, of at least twenty five billion (25,000,000,000) drachmas, which shall have a significant effect on the country's international competitiveness and employment, by creating no less than 300 permanent jobs, a number of which may be created in satellite undertakings, as a result of the proposed investment. With respect to in-vestments under this paragraph, any necessary devia-tions from the regulations on own participation, grant provision procedure, percentages and amount of grant, percentages and term of interest subsidy, the amount of subsidised loan, percentages of leasing subsidy and tax allowance, the conditions on the transfer of stock as well as on the possibility to par-ticipate in public corporations' investments herein, shall be stipulated by the same decisions. Any neces-sary deviations concerning the, composition of the Special Advisory Committee "under instance (e) of para.1, article 8" with respect to the review of invest-ments under this paragraph, shall be stipulated by an identical decision.
The same decisions may provide for undertakings implementing investments under this paragraph, to benefit from facilities and privileges stipulated in the provisions of para. 1,2,3 and 4, article 3, and para. 6, article 4, of the repealed Law 4171/1961 (Government Gazette 93 A') "on taking of measures for the support of the country".
Additionally, the same decisions may stipulate the construction of special infrastructure works at public expense for the easier operation of the undertaking.
The aforementioned joint ministerial decisions, by virtue of which investments under this paragraph shall be made eligible for the provisions of these presents, shall be subject to previous ratification thereof by law.

   Investment Law








   <<other articles