FrancophonIA/JRC-Acquis_subcorpus_EL-FR_Hunalign_aligned-TMX huggingface dataset:
Greek: Σύμφωνα με το άρθρο 14 του κανονισμού του Συμβουλίου (ΕΚ) αριθ. 659/1999, όλες οι παράνομες ενισχύσεις μπορούν να αποτελέσουν αντικείμενο ανάκτησης από τον δικαιούχο.
French: Conformément à l'article 14 du règlement (CE) no 659/1999 du Conseil, toute aide illégale pourra faire l'objet d'une récupération auprès de son bénéficiaire.
Greek: "(1) The Commission wishes to inform the United Kingdom of Great Britain and Northern Ireland that, having examined the information supplied by your authorities on the aid/measure referred to above, it has decided to initiate the procedure laid down in Article 88(2) of the EC Treaty.
French: "(1) The Commission wishes to inform the United Kingdom of Great Britain and Northern Ireland that, having examined the information supplied by your authorities on the aid/measure referred to above, it has decided to initiate the procedure laid down in Article 88(2) of the EC Treaty.
Greek: (2) In January 2004 the Commission was informed by a citizen of the United Kingdom of investments made with involvement of authorities of the Shetland Islands of the United Kingdom which possibly concerned State aid. By letters of 17 February 2004 and of 1 September 2004 the Commission has requested the United Kingdom authorities to provide information about these investments, to which the United Kingdom authorities responded by letters of 30 April 2004 and of 13 December 2004.
French: (2) In January 2004 the Commission was informed by a citizen of the United Kingdom of investments made with involvement of authorities of the Shetland Islands of the United Kingdom which possibly concerned State aid. By letters of 17 February 2004 and of 1 September 2004 the Commission has requested the United Kingdom authorities to provide information about these investments, to which the United Kingdom authorities responded by letters of 30 April 2004 and of 13 December 2004.
Greek: (3) The Shetland Islands Council (SIC), a public authority in Shetland, has set up two trusts, the Shetland Development Trust (Development Trust) and the Shetland Islands Council Charitable Trust (Charitable Trust).
French: (3) The Shetland Islands Council (SIC), a public authority in Shetland, has set up two trusts, the Shetland Development Trust (Development Trust) and the Shetland Islands Council Charitable Trust (Charitable Trust).
Greek: (4) The Development Trust has been established to be the main means of financing economic development projects in Shetland and makes funding available through loans. The trustees are the councillors of SIC plus two independent trustees.
French: (4) The Development Trust has been established to be the main means of financing economic development projects in Shetland and makes funding available through loans. The trustees are the councillors of SIC plus two independent trustees.
Greek: (5) The Charitable Trust is the trust fund of the SIC that grants loans for charitable purposes. The trustees of the Charitable Trust are the councillors of SIC plus two independent trustees.
French: (5) The Charitable Trust is the trust fund of the SIC that grants loans for charitable purposes. The trustees of the Charitable Trust are the councillors of SIC plus two independent trustees.
Greek: (6) The funding of both the Charitable Trust and the SDT are both derived from a reserve fund set up by the SIC. This reserve fund itself is funded from an agreement concluded on 12 July 1974 between the SIC and oil companies using the harbour facilities of Sullum Voe. This agreement states that fees are paid by these companies "in respect of the import of crude oil and as compensation for disturbance caused thereby".
French: (6) The funding of both the Charitable Trust and the SDT are both derived from a reserve fund set up by the SIC. This reserve fund itself is funded from an agreement concluded on 12 July 1974 between the SIC and oil companies using the harbour facilities of Sullum Voe. This agreement states that fees are paid by these companies "in respect of the import of crude oil and as compensation for disturbance caused thereby".
Greek: (7) For commercial and development activities the SIC has set up Shetland Leasing and Property Ltd (SLAP), which is a commercial limited company operating for profit wholly owned by Charitable Trust. The tasks of SLAP are to take equity in local businesses and to make loans to local industry at commercial rates and construct industrial buildings for lease at commercial rents.
French: (7) For commercial and development activities the SIC has set up Shetland Leasing and Property Ltd (SLAP), which is a commercial limited company operating for profit wholly owned by Charitable Trust. The tasks of SLAP are to take equity in local businesses and to make loans to local industry at commercial rates and construct industrial buildings for lease at commercial rents.
Greek: (8) As a commercial limited company wholly owned by the Charitable trust the funding for SLAP's activities is mostly provided by funding from the Charitable Trust and by its own profit. For some specific projects funds are also provided by the SDT.
French: (8) As a commercial limited company wholly owned by the Charitable trust the funding for SLAP's activities is mostly provided by funding from the Charitable Trust and by its own profit. For some specific projects funds are also provided by the SDT.
Greek: (9) In 1999 the board of SLAP decided to invest in a company named Shetland Seafish Ltd. This company was established on 7 October 1999 as a result of a financial merger between Williamson Ltd and Ronas Ltd. Both companies were loss making at the time and considered insolvent. By setting up of Shetland Seafish Ltd and merging both loss making companies it was expected that profits would grow and that the new company would be profit making within a short time. It was projected that by the end of 2002 Shetland Seafish Ltd would be generating a profit in excess of GBP 460000.
French: (9) In 1999 the board of SLAP decided to invest in a company named Shetland Seafish Ltd. This company was established on 7 October 1999 as a result of a financial merger between Williamson Ltd and Ronas Ltd. Both companies were loss making at the time and considered insolvent. By setting up of Shetland Seafish Ltd and merging both loss making companies it was expected that profits would grow and that the new company would be profit making within a short time. It was projected that by the end of 2002 Shetland Seafish Ltd would be generating a profit in excess of GBP 460000.
Greek: (10) SLAP invested in Shetland Seafish Ltd by acquiring 156250 shares (62,5 %) of the ordinary shares of GBP 1 each and 1000000 preference shares of GBP 1 each (100 %), investing a total amount of in total GBP 1562500. The other shareholders of ordinary shares were the Shetland Seafish Producers Organisation Ltd (43750 shares), Mr. L.A. Williamson (18750 shares), Mr. R.A. Carter (18750 shares) and the Shetland Fisheries Centre Ltd (12500 shares).
French: (10) SLAP invested in Shetland Seafish Ltd by acquiring 156250 shares (62,5 %) of the ordinary shares of GBP 1 each and 1000000 preference shares of GBP 1 each (100 %), investing a total amount of in total GBP 1562500. The other shareholders of ordinary shares were the Shetland Seafish Producers Organisation Ltd (43750 shares), Mr. L.A. Williamson (18750 shares), Mr. R.A. Carter (18750 shares) and the Shetland Fisheries Centre Ltd (12500 shares).
Greek: (11) In June 2000 the board of SLAP decided to invest once more in Shetland Seafish Ltd when the company decided to take over the activities of Whalsay Ltd, a loss making fish processing company based in Shetland. The funding of this take over by SLAP amounted in SLAP acquiring 2000000 additional preference shares in Shetland Seafish Ltd, which were subscribed by SLAP in two trenches; in November 2000 SLAP acquired 1200000 Preference Shares and on 16 February another 800000 Preference Shares.
French: (11) In June 2000 the board of SLAP decided to invest once more in Shetland Seafish Ltd when the company decided to take over the activities of Whalsay Ltd, a loss making fish processing company based in Shetland. The funding of this take over by SLAP amounted in SLAP acquiring 2000000 additional preference shares in Shetland Seafish Ltd, which were subscribed by SLAP in two trenches; in November 2000 SLAP acquired 1200000 Preference Shares and on 16 February another 800000 Preference Shares.
Greek: (12) As from 16 February 2001, the issued shared capital of Shetland Seafish Ltd thus comprised 250000 Ordinary shares and 3000000 Preference shares, held in the same proportions and by the same shareholders as at the initial issuing of shares in 1999.
French: (12) As from 16 February 2001, the issued shared capital of Shetland Seafish Ltd thus comprised 250000 Ordinary shares and 3000000 Preference shares, held in the same proportions and by the same shareholders as at the initial issuing of shares in 1999.
Greek: (13) According to a special resolution adopted in 17 December 1999 by the board of Shetland Seafish Ltd the preference shares in Shetland Seafish Ltd have "the right to a fixed non-cumulative preferential dividend at the rate of 10 % (net of associated tax credit) per annum on the capital for the time being paid up or credit as paid up thereon accruing from the date of subscription therefore and to be paid (to the extent that there are profits available for distribution) annually on 31 January in each year in respect of the 12 months ending on that date; and may be redeemed at par (i.e. at 1 per preference share) plus any unpaid preferential dividend, at the option of the Company at any time after the first anniversary of the date of the allotment of the preference shares."
French: (13) According to a special resolution adopted in 17 December 1999 by the board of Shetland Seafish Ltd the preference shares in Shetland Seafish Ltd have "the right to a fixed non-cumulative preferential dividend at the rate of 10 % (net of associated tax credit) per annum on the capital for the time being paid up or credit as paid up thereon accruing from the date of subscription therefore and to be paid (to the extent that there are profits available for distribution) annually on 31 January in each year in respect of the 12 months ending on that date; and may be redeemed at par (i.e. at 1 per preference share) plus any unpaid preferential dividend, at the option of the Company at any time after the first anniversary of the date of the allotment of the preference shares."
Greek: (14) From the data provided it shows that Shetland Seafish Ltd has been loss making since 1999.
French: (14) From the data provided it shows that Shetland Seafish Ltd has been loss making since 1999.
Greek: Comments from the United Kingdom
French: Comments from the United Kingdom
Greek: (15) In its letters from 30 April 2004 and of 13 December 2004 the United Kingdom has stated that the investments should be considered as private investments as SLAP is a private body and at the time of the investments both the SIC and SLAP had legitimate expectations that the monies involved should be considered as private funds.
French: (15) In its letters from 30 April 2004 and of 13 December 2004 the United Kingdom has stated that the investments should be considered as private investments as SLAP is a private body and at the time of the investments both the SIC and SLAP had legitimate expectations that the monies involved should be considered as private funds.
Greek: (16) Secondly the United Kingdom states that if the monies involved are considered to be public funds, the investments made by SLAP are investments which could have been decided by a normal private operator. To support this statement the United Kingdom has provided 2 reports issued with regard to the investments in question: the Shetland Seafish Merger Report and the Whalsay Report.
French: (16) Secondly the United Kingdom states that if the monies involved are considered to be public funds, the investments made by SLAP are investments which could have been decided by a normal private operator. To support this statement the United Kingdom has provided 2 reports issued with regard to the investments in question: the Shetland Seafish Merger Report and the Whalsay Report.
Greek: Shetland Seafish Merger Report
French: Shetland Seafish Merger Report
Greek: (17) The Seafish Merger Report of 27 September 1999 is a report from Mr. M. Goodlad and Mr. S. Gillani to the Directors of SLAP on "A proposed restructure and merger of L Williamson %amp% Sons (Shetland) Limited %amp% Ronas Fisheries Limited".
French: (17) The Seafish Merger Report of 27 September 1999 is a report from Mr. M. Goodlad and Mr. S. Gillani to the Directors of SLAP on "A proposed restructure and merger of L Williamson %amp% Sons (Shetland) Limited %amp% Ronas Fisheries Limited".
Greek: (18) According to the figures and the prognoses in the report, the merger of L Williamson %amp% Sons (Shetland) Limited %amp% Ronas Fisheries Limited, through the establishing of Shetland Seafish would become profit making within 3 years.
French: (18) According to the figures and the prognoses in the report, the merger of L Williamson %amp% Sons (Shetland) Limited %amp% Ronas Fisheries Limited, through the establishing of Shetland Seafish would become profit making within 3 years.
Greek: Whalsay Report
French: Whalsay Report
Greek: (19) The Whalsay Report is a report of Mr. John Inkster, who at that time held the position of Managing Director of Whalsay Fish Processors Ltd, issued in June 2000. This report gives an analysis of the situation of the companies involved, the developments in the market and possible advantages for Shetland Seafish Ltd to acquire Whalsay Ltd.
French: (19) The Whalsay Report is a report of Mr. John Inkster, who at that time held the position of Managing Director of Whalsay Fish Processors Ltd, issued in June 2000. This report gives an analysis of the situation of the companies involved, the developments in the market and possible advantages for Shetland Seafish Ltd to acquire Whalsay Ltd.
Greek: 3. ASSESSMENT
French: 3. ASSESSMENT
Greek: (20) It must be determined first if the measure can be regarded as State aid and if this is the case, if this aid is compatible with the common market.
French: (20) It must be determined first if the measure can be regarded as State aid and if this is the case, if this aid is compatible with the common market.
Greek: Existence of State aid
French: Existence of State aid
Greek: (21) The funds of SLAP which have been used for the investment are derived from funding from the Charitable Trust. The Charitable Trust was created by the SIC to receive and hold on behalf of the Shetland community, disturbance receipts which the oil industry agreed to pay.
French: (21) The funds of SLAP which have been used for the investment are derived from funding from the Charitable Trust. The Charitable Trust was created by the SIC to receive and hold on behalf of the Shetland community, disturbance receipts which the oil industry agreed to pay.
Greek: (22) As was already pointed out by the Commission in its decision of 3 June 2003 on loans for the purchase of fishing quotas in the Shetland Islands (United Kingdom) [3], these monies, which are directly related to the disturbances caused to the Shetland Islands population and not to the effective supplying of the service of the harbour facilities, cannot be considered as private funds, but must be regarded as State resources for the purposes of Article 87 of the EC Treaty.
French: (22) As was already pointed out by the Commission in its decision of 3 June 2003 on loans for the purchase of fishing quotas in the Shetland Islands (United Kingdom) [3], these monies, which are directly related to the disturbances caused to the Shetland Islands population and not to the effective supplying of the service of the harbour facilities, cannot be considered as private funds, but must be regarded as State resources for the purposes of Article 87 of the EC Treaty.
Greek: (23) The investments of SLAP currently under investigation are funded from the same type of funding. With regard to the conclusions of the Commission in its decision mentioned above and the fact that the United Kingdom has not provided any additional arguments to proof that these funds are private funds, the Commission considers that the investments must be regarded as granted through State resources.
French: (23) The investments of SLAP currently under investigation are funded from the same type of funding. With regard to the conclusions of the Commission in its decision mentioned above and the fact that the United Kingdom has not provided any additional arguments to proof that these funds are private funds, the Commission considers that the investments must be regarded as granted through State resources.
Greek: (24) Furthermore, the decision of the Commission mentioned above also pointed out that the trustees of the Charitable Trust are the councillors of the SIC. Although these councillors act as trustees ex officio, the fact that they are nominated by the SIC means that the latter is able to exercise a dominant influence over the trust and SLAP as well as over the funds at their disposal. There is therefore a set of indicators showing that decisions can not be taken without regard for the requirements of the public authority.
French: (24) Furthermore, the decision of the Commission mentioned above also pointed out that the trustees of the Charitable Trust are the councillors of the SIC. Although these councillors act as trustees ex officio, the fact that they are nominated by the SIC means that the latter is able to exercise a dominant influence over the trust and SLAP as well as over the funds at their disposal. There is therefore a set of indicators showing that decisions can not be taken without regard for the requirements of the public authority.
Greek: Market economy investor principle
French: Market economy investor principle
Greek: (25) Public investments are regarded State aid if the investments are decided under circumstances which would not be acceptable for a private investor acting under normal market economy principles.
French: (25) Public investments are regarded State aid if the investments are decided under circumstances which would not be acceptable for a private investor acting under normal market economy principles.
Greek: (26) According to the United Kingdom, SLAP acted like a normal market economy investor in investing in Shetland Seafish Ltd and the take over of Whalsay Ltd by Shetland Seafish Ltd. This would follow from two reports submitted to the board at the time of the investments: the Shetland Seafish Merger Report and the Whalsay Report.
French: (26) According to the United Kingdom, SLAP acted like a normal market economy investor in investing in Shetland Seafish Ltd and the take over of Whalsay Ltd by Shetland Seafish Ltd. This would follow from two reports submitted to the board at the time of the investments: the Shetland Seafish Merger Report and the Whalsay Report.
Greek: (27) An investment can be considered to be in line with the market economy investor principle if the investment is made in circumstances that would be acceptable to a private investor operating under normal market economy conditions. An investment would not be considered in line with this principle where the financial position of the company, and particularly the structure and volume of its debt, is such that a normal return cannot be expected within a reasonable time from the investment.
French: (27) An investment can be considered to be in line with the market economy investor principle if the investment is made in circumstances that would be acceptable to a private investor operating under normal market economy conditions. An investment would not be considered in line with this principle where the financial position of the company, and particularly the structure and volume of its debt, is such that a normal return cannot be expected within a reasonable time from the investment.
Greek: (28) The prognoses of profit laid down in the Seafish Merger Report of 27 September 1999 are based on a number of assumptions, for which insufficient arguments are provided. The report contains a projected profit and loss account, a projected balance sheet and a projected cash flow statement for 2000, 2001 and 2002. The data in these sheets show that Shetland Seafish Ltd would become profitable and that the turnover is expected to increase in comparison to 2000, with more than 16 % in 2001 and with 26 % in 2002. However, the report does not contain sufficient data and arguments to establish the reliability of these projections as the necessary data on supply, prices and production to support these expectations are not contained in the report.
French: (28) The prognoses of profit laid down in the Seafish Merger Report of 27 September 1999 are based on a number of assumptions, for which insufficient arguments are provided. The report contains a projected profit and loss account, a projected balance sheet and a projected cash flow statement for 2000, 2001 and 2002. The data in these sheets show that Shetland Seafish Ltd would become profitable and that the turnover is expected to increase in comparison to 2000, with more than 16 % in 2001 and with 26 % in 2002. However, the report does not contain sufficient data and arguments to establish the reliability of these projections as the necessary data on supply, prices and production to support these expectations are not contained in the report.
Greek: (29) Without further argumentation for these projections and assumptions, it is impossible to establish their credibility, both for the Commission at this stage, as well as for any normal private investor wishing to invest in such an operation.
French: (29) Without further argumentation for these projections and assumptions, it is impossible to establish their credibility, both for the Commission at this stage, as well as for any normal private investor wishing to invest in such an operation.
Greek: (30) It is mentioned in the report that "the new management organisation and production strategy have been carefully devised to address previous shortfall within the two companies concerned. But the core of the new philosophy is the recognition that only a market led approach will ensure success and continued whitefish processing in Shetland", which according to the United Kingdom demonstrates that the intent at the time the investments were made was to ensure that the companies were operating in a manner consistent with their market in order to ensure the long term viability if the companies.
French: (30) It is mentioned in the report that "the new management organisation and production strategy have been carefully devised to address previous shortfall within the two companies concerned. But the core of the new philosophy is the recognition that only a market led approach will ensure success and continued whitefish processing in Shetland", which according to the United Kingdom demonstrates that the intent at the time the investments were made was to ensure that the companies were operating in a manner consistent with their market in order to ensure the long term viability if the companies.
Greek: (31) From the figures and data contained in the report the Commission can however not established if these arguments have been correctly applied and in absence of further data leading to the decision to invest, the Commission can not establish that indeed the investment could be considered to be a profitable investment and that SLAP has acted like a normal private investor.
French: (31) From the figures and data contained in the report the Commission can however not established if these arguments have been correctly applied and in absence of further data leading to the decision to invest, the Commission can not establish that indeed the investment could be considered to be a profitable investment and that SLAP has acted like a normal private investor.