Distinction of investment organisations
- stipulation of the form of aid
1. For the implementation of the aids of this law, the organisations
(companies or individual businessper-sons) of the business activity
stipulated in article 3, are distinguished into new and old.
New organisations: are newly founded corporate or private
undertakings, as well as those submitting an application for the
aids of these presents within the first five years from their establishment
or, in case of private undertakings, their commencement of trade.
Companies created from the conversion of another company or private
undertaking, or from a merger of companies or private undertakings,
or those that ab-sorbed another company or private undertaking or
a branch of another company or undertaking, or were absorbed by
another company, shall be not consid-ered as new organisations,
provided that one of the above companies or private undertakings
constituted an old organisation prior to the conversion, merger
Old organisations: are those submitting an applica-tion for
the aids of these presents beyond the first five years from their
establishment or, in case of private undertakings, the commencement
2. a. For investments and/or equipment leasing pro-grams of new
organisations, all forms of aids shall be provided, alternatively,
i. Grant and interest subsidy and/or leasing subsidy.
ii. Tax allowance and interest subsidy.
b. For investments and/or leasing programs for new mechanical and
other equipment of old organisations, only tax allowance and interest
subsidy shall be pro-vided.
3. What is stipulated in paragraph 2 above shall not apply in the
i. Business plans of old organisations: under sub-instances (xv)
and (xvi), of instance (a), of para. 1, ar-ticle 3, under the sub-instance
(v), of instance (e), of para. 1 of the same article, as well as
under sub-instance (xii), of instance (g), of para. 1 of the same
article, for which only a grant shall be provided. For the rescue
and restructuring business plans under para. 2, article 10, for
which all forms of aids of these presents may be provided, as well
as other forms of aids that may be stipulated by virtue of joint
ministerial decision of the above paragraph, except for tax allow-ance
and any other tax related aid, provided that they shall be submitted
by old organisations.
ii. For investments and/or equipment leasing pro-grams, particularly
important for the national econ-omy, both of new and old organisations,
in excess of twenty five (25) billion drachmas, under article 10,
for which all forms of aids may be provided alternatively, in conjunction
with paragraphs 1, 2, 3 and 4, article 3 and paragraph 6, article
4 of Law 4171/1961.
iii. For investments concerning the complete mod-ernisation of hotel
facilities and tourist camping facili-ties, effected by old organisations,
for which all forms of aids may be provided, alternatively.
iv. For investments concerning the creation of public car parks,
effected either by new or old organisations, for which only an aid
per new lawful parking place shall be provided.
v. For the categories of investment expenditures under sub-instances
(xvii), (xviii), (xix) and (xxi), of undertakings under instance
(a), of para. 1, article 3, effected either by new or old organisations,
for which only a grant shall be provided.
vi. For the enacted special aid statuses under para. 1, article
10, for which any deviations from the general rules under paragraph
2 above, shall be stipulated by the presidential decree for enactment
vii. For investments of undertakings of the Local Government Organisations
(O.T.A.), or the prefectural local authorities or co-operatives,
under instances (j) and (l) of para. 1, article 3, effected by old
organisa-tions, for which all forms of aids may be provided, al-ternatively.
viii. For investments and or equipment leasing pro-grams under instance
(u), of para. 1, article 3, only a grant and interest subsidy, and/or
equipment leasing subsidy shall be provided.
ix. For investments of engineering companies under instance (v),
of para. 1, article 3, only a grant shall be provided.