Article 8
Competences and aid application procedures

16. Decisions on eligibility, as well as other deci-sions defined under para. 14, shall be issued following relevant opinion of the competent advisory committee as per case. Amendment decisions may be issued without the opinion of the competent advisory commit-tee, provided that they refer to an extension of the time limit for a period no longer than one (1) year or variation of the approved drive of mechanical installa-tions, on condition that such variation does not exceed 1/5 of the initially approved drive.
17. Yearly planning of the amount of grants and leasing subsidies approved based on these presents.
a. The total amount of grants and leasing subsidies approved yearly for investments and/or equipment leasing programs and rescue and restructuring busi-ness plans, shall be stipulated by virtue of decision of the Minister of National Economy issued in January every year and subject to the provisions of instance (b) below and paragraphs 1 and 3 of article 10. By vir-tue of the same decision, the above amount shall be distributed among the Minister of National Economy and the other authorities entitled to sign decisions on eligibility under para. 14 above. The total amount of aids for rescue and restructuring business plans, un-der article 10, shall also be set by virtue of the same decision. The Minister of National Economy may read-just the above amount by virtue of similar decisions throughout the year.
The total amount of grants approved yearly for each country in case of investments abroad, under para. 2 of article 3, shall be set by similar decisions.
b. The total amount of grants approved yearly for business plans under sub-instance (xv) of instance (a), sub-instance (v) of instance (e) and sub-instance (xii) of instance (g) of para. 1, article 3, as well as for investments under sub-instances (xvii), (xviii), (xix), (xx) and (xxi) of instances (a) and (f) of para. 1 of the same article, shall be set by joint decision of the Min-isters of National Economy and Development, issued in January of each year. Such amount may be read-justed by virtue of similar decisions throughout the year.
c. Especially for the year 1998, decisions under in-stances (a) and (b) above shall be issued within thirty (30) days from the date this law shall take effect.
18. Applications seeking eligibility for grants and/or interest subsidies of investments and/or equipment leasing programs or business plans, as well as re-quests for amendment of decisions on eligibility, which have been rejected shall not be re-examined.
19. Advisory Committees.
(a) Advisory Committees of the Ministry of National Economy:
i. By virtue of decision of the Minister of National Economy, a Central Advisory Committee shall be set up at the Ministry of National Economy, which shall advise on applications seeking eligibility for the provi-sions of this law of investments and/or equipment leasing programs of up to Drs. 5 billion, submitted to the Ministry of National Economy or ELKE under this article and reviewed by the Ministry of National Econ-omy. It shall also advise on applications concerning investments and/or equipment leasing programs of up to Drs. 5 billion that had been submitted by October 21st, 1997, seeking eligibility under Law 1892/1990 and shall not have been reviewed by the time this law takes effect.
The Central Advisory Committee shall be made up of the Secretary General of Investments and Devel-opment of the Ministry of National Economy as Chair-person, the Head of the competent general division of the Ministry of National Economy, heads of competent departments of the Ministry of National Economy, as well as representatives of other competent ministries and other bodies specialised in investments.
ii. By joint decision of the Ministers of National Economy and Development, a Special Advisory Committee shall be set up at the Ministry of National Economy, which shall advise on applications seeking eligibility for the provisions of this law of: a) invest-ments and/or equipment leasing programs of up to Drs. 5 billion, submitted to the Ministry of National Economy or ELKE under this article and reviewed by the Ministry of National Economy, b) rescue and re-structuring business plans regardless of cost and c) investments and/or leasing programs eligible for spe-cial aid statuses under para. 1 of article 10 and are submitted to the Central Department of the Ministry of National Economy regardless of amount. It shall also advise on applications concerning investments and/or equipment leasing programs in excess of Drs. 5 billion that had been submitted by October 21st, 1997, seek-ing eligibility under Law 1892/1990 and shall not have been reviewed by the time this law takes effect. The Committee shall be made up of the Secretary General of Investments and Development of the Ministry of National Economy as Chairperson, the Secretary General of Industry of the Ministry of Development, the Secretary General of Research and Technology of the Ministry of Development, who shall participate only when the issues under discussion pertain to the Special Experts Committee of the G.G.E.T., or the Secretary General of H.N.T.O. of the Ministry of De-velopment when issues pertaining to tourism invest-ments are discussed, the head of the competent Gen-eral Division or division of the Ministry of National Economy, the head of the competent division of the General Secretariat for Industry of the Ministry of De-velopment, two (2) experts of acknowledged authority in issues pertaining to industrial investments, one (1) representative of the Federation of Greek Industries, one (1) representative of the Confederation of Work-ers of Greece and one (1) representative of the Hel-lenic Banks Association.

<<back



   Investment Law

 

 

 

 

 

 

 


   <<other articles