2005/246/: Commission Decision of 20 October 2004 on the State aid No C 40/2002 (ex N 513/2001) concerning State aid to Hellenic Shipyards ΑΕ (notified under document number C(2004) 3919)Text with EEA relevance

• Articles: 4

Article 1

Article 5(2) and Article 6(4) of Act 2941/2001 constitute State aid to Hellenic Shipyards AE which is incompatible with the common market.

The aid may, accordingly, not be implemented.

Article 2

In the event that State aid has been disbursed to Hellenic Shipyards AE under the provisions referred to in Article 1 of this Decision, Greece shall take all necessary measures to recover that aid.

In such a case, recovery shall be effected without delay and in accordance with the procedures under national law, provided these allow the immediate and effective implementation of this Decision.

The sums to be recovered shall bear interest throughout the period running from the date on which they were put at the disposal of the beneficiary until their actual recovery.

The interest shall be calculated in conformity with the provisions laid down in Chapter V of Commission Regulation (EC) No 794/2004  ( 17 ) .

Greece shall end the aid measure and cancel all payment of outstanding aid with effect of the date of notification of this Decision.

Article 3

Greece 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 Hellenic Republic.