Article 6
Terms, conditions and restrictions concerning the provision of aids

VI. Investments and/or equipment leasing programs with a value in excess of twenty-five billion (25,000,000,000) drachmas, under article 10.
VII. Rescue and restructuring business plans for in-dustrial undertakings.
VIII. Investments and/or equipment leasing pro-grams of undertakings included in the special aid statuses under para. 1, article 10, provided that the presidential decree issued in each case for that status, shall provide for the non-application of this re-striction.
IX. Business plans of manufacturing and mining un-dertakings, as well as software development under-takings.
X. Investments defined under sub-instances (xvii), (xviii), (xix), (xx) and (xxi), of instance (a), of para. 1, article 3.
XI. Investments and/or equipment leasing programs of monasteries, under instance (u), of the undertak-ings of O.T.A. or prefectural local authorities, as well as co-operatives under instance (l), of para. 1, article 3.
XII. Investments of engineering companies under instance (v), of para. 1, article 3.
(c) Grants and leasing subsidy provided to each or-ganisation for investments and/or equipment leasing programs under instance (b) above, may not exceed the limit of five billion (5,000,000,000) drachmas, for a five year period, for productive investments concern-ing the same manufacturing process. In order for such limit to be set, account shall be taken cumulatively of all investments and/or equipment leasing programs submitted, by the same organisation, seeking eligibil-ity for the provisions of this law, within five (5) years from the completion and the commencement of the productive operation of the first investment and/or leasing program under paragraph (b) above, eligible for the provisions of these presents.
3. Business organisations that place their invest-ments and/or equipment leasing programs or business plans under the grants and interest subsidies or leas-ing subsidies, of an amount in excess of than sixty million (60,000,000) drachmas, shall be obliged to op-erate in the form of a corporation, upon the disburse-ment of the first aid instalment, at the latest. In order for monasteries to implement their investments and/or programs in accordance with instance (u), of para. 1, article 3, they shall not be obliged to establish a com-pany, irrespective of the amount of the investment and/or program.
By virtue of decisions of the Minister of National Economy, the amount beyond which the organisation shall be obliged to operate in a corporate form, may be readjusted.
4. Investor own participation in investments eligible for a grant and interest subsidy.
(a) The investor's own participation in investments eligible for a grant and interest subsidy, may not be less than 40% of the aided expenditures.
(b) The percentage of own participation in the in-vestment, initially approved by the decision on eligibil-ity, may not be reduced during the investment imple-mentation.

<<back



   Investment Law

 

 

 

 

 

 

 


   <<other articles