2002/937/EC: Commission Decision of 10 July 2002 on the aid scheme implemented by Finland for Åland Islands captive insurance companies (notified under document number C(2002) 2410) (Text with EEA relevance)

• Articles: 4

Article 1

The State aid which Finland has implemented for so-called captive insurance companies in the County of Åland (ÅFS 109/93 with subsequent amendments) is incompatible with the common market.

Article 2

Finland shall withdraw the scheme referred to in Article 1.

Article 3

Finland 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 Republic of Finland.

Done at Brussels, 10 July 2002.

For the Commission

Mario Monti

Member of the Commission

(1) OJ L 309, 1.11.2001, p. 4.

(2) See footnote 1.

(3) OJ C 83, 27.3.1999, p. 1

(4) OJ C 2, 6.1.1998, p. 2.

(5) OJ C 384, 10.12.1998, p. 3.

(6) With regard to the concept of "tax expenditure", see "Tax expenditures. Recent experiences", OECD, Paris, 1996; see also Stanley S. Surrey, "Tax incentives as a device for implementing government policy: A comparison with direct government expenditures", Harvard Law Review, Volume 83, No 4, pages 705 to 738.

(7) See Case 248/84 Germany v Commission [1987] ECR 4013.

(8) See Case 173/73 Italy v Commission [1976] ECR, 709 at paragraph 13.

(9) See footnote 4.

(10) Community guidelines on State aid for environmental protection (OJ C 72, 10.3.1994, p. 3).

(11) Guidelines on national regional aid (OJ C 74, 10.3.1998, p. 9).