1999/88/EC: Commission Decision of 14 July 1998 concerning State aid in favour of 'Porcelanas del Norte SAL (Ponsal)/Comercial Europea de Porcelanas SAL (Comepor)' (notified under document number C(1998) 2364) (Only the Spanish text is authentic) (Text with EEA relevance)

• Articles: 4

Article 1

The loan of ESP 750 million provided by the State-owned corporation Navarra de Financiación y Control SA to Comercial Europa de Porcelanas SAL is illegal, since it was granted in breach of the Spanish authorities' obligation to inform the Commission, in sufficient time to enable it to submit its comments, of any plans to grant or alter aid, as is laid down in Article 93(3) of the EC Treaty.

The aid is considered incompatible with the common market within the meaning of Article 92(1) of the Treaty as it does not meet the conditions for any of the derogations contained in Article 92(2) and (3) of the Treaty to apply.

Article 2

Spain shall ensure that the aid referred to in Article 1 is revoked and recovered in full, including interest, within two months of the date of notification of this Decision.

The aid shall be recovered in accordance with the procedures and provisions of Spanish law and shall include interest, from the date of its award until the date it is actually repaid, at a rate equal to the percentage value on that date of the reference rate used for the calculation of the net grant equivalent of regional aid in Spain.

These provisions shall apply in such a way that the recovery required by Community law is not rendered impossible in practice. Any procedural or other difficulties with regard to the implementation of the measure shall not have any influence on its effectiveness.

Article 3

The Spanish Government shall inform the Commission, within two months of notification of this Decision, of the measures taken to comply with it.

Article 4

This Decision is addressed to the Kingdom of Spain.

Done at Brussels, 14 July 1998.

For the Commission

Karel VAN MIERT

Member of the Commission

(1) OJ C 368, 23. 12. 1994, p. 12.

(2) OJ C 318, 24. 11. 1983, p. 3.

(3) [1973] ECR, p. 813.

(4) [1987] ECR, p. 901.

(5) [1990] ECR, I-959.

(6) See footnote 5, paragraphs 58 to 63.