2006/742/EC: Commission Decision of 20 October 2004 on aid granted by Germany Landesbank Hessen-Thüringen — Girozentrale (notified under document number C(2004) 3931) (Text with EEA relevance)

Decision · 5 articles

Data as of 2026-07-04 · Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Article 1

1. The waiver of an appropriate remuneration amounting to 0,3 % a year (before corporation tax) for the part of the capital transferred by the Land of Hessen to the Landesbank Hessen-Thüringen — Girozentrale which the latter has been able to use as a guarantee as from 31 December 1998 is aid which is incompatible with the common market. 2. The aid referred to in paragraph 1 amounts to EUR 6,09 million for the period from 31 December 1998 to 31 December 2003.

Article 2

1. Germany shall discontinue the aid referred to in Article 1(1) by 31 December 2004. 2. Germany shall take all necessary measures to recover the aid referred to in Article 1(1) which was unlawfully made available to the beneficiary. The amount to be recovered shall include the following: (a) for the calculation period 31 December 1998 to 31 December 2003, the amount specified in Article 1(2); (b) for the calculation period from 1 January 2004 to the time when the aid is discontinued, an amount determined in accordance with the calculation method specified in Article 1(1).

Article 3

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 amount to be recovered shall include interest from the date on which the unlawful aid was at the disposal of the beneficiary until the date of its recovery. Interest shall be calculated in accordance with the provisions of Chapter V of Commission Regulation (EC) No 794/2004 ( 41 )

Article 4

Germany shall, using the form set out in the Annex, inform the Commission, within two months of notification of this Decision, of the measures which it has taken in order to comply with it.

Article 5

This Decision is addressed to Germany.

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Source: EUR-Lex (Publications Office of the EU), © European Union, reuse permitted under Commission Decision 2011/833/EU.

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