90/627/EEC: Commission Decision of 4 July 1990 on loans granted by the Belgian authorities to two shipowners for the purchase of a 34 000 m³ LPG ship and two refrigerator ships (Only the French and Dutch texts are authentic)

• Articles: 4

Article 1

The loans having a grant equivalent of 35 % granted by the Belgian Government to the shipping companies Fertex and Europese Transport Maatschappij Crystal Prince for the building, respectively, of a 35 000 m3 LPG ship and two refrigerator ships in the Boelwerf shipyard are incompatible with the common market.

Article 2

Pursuant to Article 93 (2) of the Treaty, the Belgian Government shall revise the terms of the loans so as to reduce them to a maximum level of 26 % in grant equivalent terms, in line with the ceiling fixed by the Commission for 1989 in accordance with Article 4 (2) of Directive 87/167/EEC.

Article 3

The Belgian Government shall inform the Commission of the measures which it has taken in order to comply with this Decision within two months of being notified of it.

Article 4

This Decision is addressed to the Kingdom of Belgium.

Done at Brussels, 4 July 1990. For the Commission

Leon BRITTAN

Vice-President

(1) OJ No L 69, 12. 3. 1987, p. 55.

(2) OJ No C 20, 27. 1. 1990, p. 6.

(3) OJ No C 67, 17. 3. 1990, p. 11.

(4) OJ No L 137, 23. 5. 1981, p. 39.