What 97/754/ECSC: Commission Decision of 30 April 1997 concerning the application to the steel firm Ferdofin Srl of Italian Law No 95/1979 on receivership arrangements for large firms in crisis (Only the Italian text is authentic) (Text with EEA relevance) requires
This Commission Decision of 30 April 1997, adopted under the Treaty establishing the European Coal and Steel Community (ECSC) and Commission Decision No 2496/96/ECSC, concerns the application of Italian Law No 95/1979 on receivership arrangements for large firms in crisis - known as the Prodi Law - to Ferdofin Siderurgica Srl, a steel producer subject to the rules of the ECSC Treaty. The Commission determined that the measures provided for by Law No 95/1979, as applied to Ferdofin, constitute State aid incompatible with the common market for coal and steel pursuant to Article 4(c) of the ECSC Treaty, which prohibits subsidies or aid granted by States in any form whatsoever. The aid took the form of suspension of payments on debts owed to public bodies, including Lit 10 786 million owed to the INPS, Lit 723 million owed to the INAIL, Lit 2 301 million owed to the tax authorities, and Lit 100 billion owed to banks controlled directly or indirectly by the State. The Decision requires Italy to recover the aid with interest calculated from the date it was granted, to immediately cease applying Law No 95/1979 to Ferdofin's unpaid debts to public bodies, and to inform the Commission within two months of the measures taken to comply. The aid does not qualify for any of the derogations - research and development, environmental protection, or closures - exhaustively set out in Decision No 2496/96/ECSC, and was granted in breach of Article 6(2) of that Decision.
Pillar: Legal & IP Sovereignty · Authority: Commission of the European Communities · Version: 1.0.0 · Last updated:
Primary source: https://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:31997D0754
SHA-256 integrity: 529b3809219d1e4591da1c9456d3240c466247e38e044eff4ce2520887578e2b
Primary Citations — 10 traced to source
- Article 1: 'The State aid which Ferdofin has received in the context of the application to it of Law No 95/1979, through suspension of the payment of the following debts: (a) Lit 10 786 million owed to the INPS; (b) Lit 723 million owed to the INAIL; (c) Lit 2 301 million owed to the tax authorities; (d) Lit 100 billion owed to banks controlled directly or indirectly by the State, is illegal since it was granted in breach of Article 6 (2) of Decision No 2496/96/ECSC. It is also incompatible with the common market for coal and steel in pursuance of Article 4 (c) of the ECSC Treaty.'
- Article 2: 'Italy shall recover the aid referred to in Article 1 in accordance with the provisions of Italian law relating to the recovery of amounts owed to the public authorities. In order to counteract the effects of the aid, interest shall be charged on the amount of the aid from the date on which it was granted until the date it is reimbursed. The interest rate applicable shall be that used by the Commission to calculate the net grant equivalent of regional aid schemes in the period in question.'
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