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

11. Terms, conditions and restrictions on equipment leasing subsidy.
(a) The leasing subsidy for programs concerning the acquisition of the right to use new modern mechanical and other equipment, shall be provided on condition that after the expiry of the leasing term the equipment shall become the property of the undertaking. This term must be included in the relevant leasing contract.
(b) Leasing subsidy shall be paid provided that the leased equipment has been installed in the unit and its productive operation has begun, in accordance with the provisions under para. 5, article 9. In case the ac-quisition of the right to use equipment through leasing is combined with an investment eligible for grants and interest subsidy, the leasing subsidy shall be paid pro-vided that the productive operation of the investment has begun.
(c) Leasing contracts may also be concluded with fi-nancial organisations, or leasing companies from a European Union country, while the leasing subsidy shall be, in any case, payable in drachmas.
(d) The amounts of leasing subsidy instalment re-ceived by the undertaking, shall reduce the leasing expenditure amount, deducted from the undertaking's gross revenue in order to calculate the taxable net profits. The relevant term must be included in the rele-vant decisions on eligibility.
12. Terms, conditions and restrictions on the appli-cation of aids to investments or equipment leasing programs of manufacturing undertakings concerning the production of state-of-the-art technological prod-ucts, as well as investments or programs of undertak-ings rendering state-of-the-art technological services, under passages (i) and (iii) respectively, of sub-instance (1), of instance (e), of para. 3, article 5.
(a) The specifications that undertakings rendering state-of-the-art technological services must meet, shall be stipulated by virtue of joint decision of the Ministers of National Economy and Development.
The Special Experts Committee, by virtue of the opinion of the following instance (b), shall give an ex-pert opinion whether or not the undertakings rendering state-of-the-art technological services meet the above specifications, in order to be eligible for the grants of this law.
(b) The Special Experts Committee of the General Secretariat for Research and Technology (G.G.E.T) of the Ministry of Development shall give an expert opin-ion on the designation of products or services as state-of-the-art, based on the proposed investment plan and/or leasing program, within a period of one (1) month from the date the investment and/or program file shall be dispatched to the competent department of the G.G.E.T. The examination criteria and proce-dures of the G.G.E.T for the designation of products or services as state-of-the-art, shall be stipulated by virtue of joint decision of the Ministers of National Economy and Development.
13. Terms, conditions and restrictions on the appli-cation of aids to investments or programs of manufac-turing companies, concerning the production of new products under passage (i), of sub-instance (1), of in-stance (e), of para. 3, article 5.
Products that upon submission of the application seeking eligibility for the grants of these presents are not produced by other productive units of the country, in an identical or varied form, shall be considered as new products.
(b) The Special Experts Committee of the G.G.E.T of the Ministry of Development shall give an expert opinion on the designation of products as new, based on the proposed investment plan or program, within a period of one (1) month from the date the investment and/or program file is dispatched to the competent department of the G.G.E.T. The examination criteria and procedures of the G.G.E.T for the designation of products as new, are stipulated by virtue of joint deci-sion under paragraph 12 above.
14. Terms, conditions and restrictions on the appli-cation of aids to investments, equipment leasing pro-grams or business plans of software development un-dertakings under passage (iv) of sub-instance 1 of in-stances (e) and (m) of para. 3, article 5.
a) The specifications to be met by such undertak-ings, as well as all required data to accompany the file submitted thereby for the application of the aids herein, are stipulated by virtue of joint decision of the Ministers of National Economy and Development un-der instance (e) of para. 1, article 3.
b) Software development undertakings shall be des-ignated as such by virtue of relevant opinion of the Special Experts Committee of the G.G.E.T. of the Ministry of Development within a (1) month from the dispatch of the investment or equipment leasing or business plan file to the competent Department of the G.G.E.T.

<<back



   Investment Law

 

 

 

 

 

 

 


   <<other articles