1999/195/EC: Commission Decision of 1 July 1998 on aid granted and to be granted by Italy to Keller SpA and Keller Meccanica SpA (notified under document number C(1998) 2047) (Only the Italian text is authentic) (Text with EEA relevance)

• Articles: 5

Article 1

The conditions under which soft loans of ITL 33 839 million and ITL 6 500 million were granted to Keller SpA and Keller Meccanica SpA are not in accordance with the conditions laid down in the regional aid schemes approved by the Commission. Furthermore, the loans were granted before the Commission had submitted its comments on the subsequent alterations to those schemes, in accordance with Article 93(3) of the EC Treaty.

Article 2

The aid in the form of interest rebates amounting to ITL 4 288 million for Keller SpA and to ITL 903 million for Keller Meccanica SpA is illegal.

Such aid does not qualify for any of the exemptions laid down in Article 92(2) and (3) of the EC Treaty or Article 61(2) and (3) of the EEA Agreement and is therefore incompatible with the common market within the meaning of Article 92(1) of the EC Treaty and Article 61 (1) of the EEA Agreement.

Article 3

Italy shall take whatever steps are necessary to recover the illegal aid referred to in Article 2. Repayment shall be made in accordance with the procedures and provisions of Italian law.

The amounts to be repaid shall bear interest from the date on which the aid was granted until the date on which it is effectively repaid. The interest shall be calculated on the basis of the reference rate used to calculate the net grant equivalent of regional aid applicable in Italy on the date of repayment.

Article 4

Italy shall inform the Commission within two months of the date of notification of this decision of the measures it has taken to comply with it.

Article 5

This Decision is addressed to the Republic of Italy.

Done at Brussels, 1 July 1998.

For the Commission

Karel VAN MIERT

Member of the Commission

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(2) OJ C 140, 7. 5. 1997, p. 12.

(3) OJ C 213, 19. 8. 1992, p. 2.

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(5) OJ L 297, 29. 10. 1990, p. 1.

(6) OJ L 164, 30. 6. 1994, p. 3.

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(9) OJ L 306, 11. 11. 1997, p. 25.

(10) [1973] ECR 813.

(11) [1987] ECR 901.

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