2001/882/EC: Commission Decision of 25 July 2001 on the State aid implemented by France in the form of development assistance for the cruise vessel "Le Levant", built by Alstom Leroux Naval for operation in Saint-Pierre-et-Miquelon (Text with EEA relevance) (notified under document number C(2001) 2435)

• Articles: 4

Article 1

The State aid which France has implemented in the form of tax concessions and as development assistance for the cruise vessel Le Levant, built by Alstom Leroux Naval for operation in the French overseas territory of Saint-Pierre-et-Miquelon, cannot be regarded as genuine development assistance within the meaning of Article 4(7) of Council Directive 90/684/EEC on aid to shipbuilding and is therefore incompatible with the common market.

Article 2

1. France shall take all necessary measures to discontinue and recover from the investors, as the direct beneficiaries and current owners of the cruise vessel, the aid referred to in Article 1 and unlawfully made available to the beneficiary.

2. Recovery shall be effected without delay and in accordance with the procedures of national law provided that they allow the immediate and effective execution of this decision. The aid to be recovered shall include interest from the date on which it was at the disposal of the beneficiaries until the date of its recovery. Interest shall be calculated on the basis of the reference rate used for calculating the grant equivalent of regional aid.

Article 3

France 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 French Republic.

Done at Brussels, 25 July 2001.

For the Commission

Mario Monti

Member of the Commission

(1) OJ L 380, 31.12.1990, p. 13.

(2) OJ C 33, 5.2.2000, p. 6.

(3) See footnote 2.

(4) Business secret.

(5) OJ C 279, 25.10.1995, p. 3; State aid C 8/95.

(6) Case C-37/98 (OJ L 292, 13.11.1999, p. 23).

(7) See footnote 5.