# Official Journal C 236/2009

| | ISSN 1725-2423
  doi:10.3000/17252423.C_2009.236.eng |
| --- | --- |
| Official Journal
  of the European Union | C 236 |
| | |
| English edition | Information and Notices | Volume 521 October 2009 |

ISSN 1725-2423

doi:10.3000/17252423.C_2009.236.eng

Official Journal

of the European Union

C 236

English edition

Information and Notices

Volume 521 October 2009

---

| Notice No | Contents | page |
| --- | --- | --- |
| | II   Information |
| | INFORMATION FROM EUROPEAN UNION INSTITUTIONS AND BODIES |
| | Commission |
| 2009/C 236/01 | Non-opposition to a notified concentration (Case COMP/M.5613 — Piraeus Bank/BNP Paribas/Greek JV/Swiss JV) (
  1
  ) | 1 |

Notice No

Contents

page

II   Information

INFORMATION FROM EUROPEAN UNION INSTITUTIONS AND BODIES

Commission

2009/C 236/01

Non-opposition to a notified concentration (Case COMP/M.5613 — Piraeus Bank/BNP Paribas/Greek JV/Swiss JV) (
  1
  )

1

1

| | IV   Notices |
| --- | --- |
| | NOTICES FROM EUROPEAN UNION INSTITUTIONS AND BODIES |
| | Commission |
| 2009/C 236/02 | Euro exchange rates | 2 |
| 2009/C 236/03 | Commission notice on current State aid recovery interest rates and reference/discount rates for 27 Member States applicable as from 1 September 2009(Published in accordance with Article 10 of Commission Regulation (EC) No 794/2004 of 21 April 2004 (OJ L 140, 30.4.2004, p. 1)) | 3 |
| 2009/C 236/04 | Commission notice on current State aid recovery interest rates and reference/discount rates for 27 Member States applicable as from 1 October 2009(Published in accordance with Article 10 of Commission Regulation (EC) No 794/2004 of 21 April 2004 (OJ L 140, 30.4.2004, p. 1)) | 4 |
| | NOTICES CONCERNING THE EUROPEAN ECONOMIC AREA |
| | Commission |
| 2009/C 236/05 | Authorisation of State aid pursuant to Article 61 of the EEA Agreement and Article 1(3) in Part 1 of Protocol 3 to the Surveillance and Court Agreement | 5 |
| | EFTA Surveillance Authority |
| 2009/C 236/06 | Invitation to submit comments pursuant to Article 1(2) in Part I of Protocol 3 to the Agreement between the EFTA States on the Establishment of a Surveillance Authority and a Court of Justice on State aid with regard to taxation of investment undertakings according to the Liechtenstein Tax Act | 6 |

IV   Notices

NOTICES FROM EUROPEAN UNION INSTITUTIONS AND BODIES

Commission

2009/C 236/02

Euro exchange rates

2

2009/C 236/03

Commission notice on current State aid recovery interest rates and reference/discount rates for 27 Member States applicable as from 1 September 2009(Published in accordance with Article 10 of Commission Regulation (EC) No 794/2004 of 21 April 2004 (OJ L 140, 30.4.2004, p. 1))

(Published in accordance with Article 10 of Commission Regulation (EC) No 794/2004 of 21 April 2004 (OJ L 140, 30.4.2004, p. 1))

3

2009/C 236/04

Commission notice on current State aid recovery interest rates and reference/discount rates for 27 Member States applicable as from 1 October 2009(Published in accordance with Article 10 of Commission Regulation (EC) No 794/2004 of 21 April 2004 (OJ L 140, 30.4.2004, p. 1))

(Published in accordance with Article 10 of Commission Regulation (EC) No 794/2004 of 21 April 2004 (OJ L 140, 30.4.2004, p. 1))

4

NOTICES CONCERNING THE EUROPEAN ECONOMIC AREA

Commission

2009/C 236/05

Authorisation of State aid pursuant to Article 61 of the EEA Agreement and Article 1(3) in Part 1 of Protocol 3 to the Surveillance and Court Agreement

5

EFTA Surveillance Authority

2009/C 236/06

Invitation to submit comments pursuant to Article 1(2) in Part I of Protocol 3 to the Agreement between the EFTA States on the Establishment of a Surveillance Authority and a Court of Justice on State aid with regard to taxation of investment undertakings according to the Liechtenstein Tax Act

6

| | V   Announcements |
| --- | --- |
| | PROCEDURES RELATING TO THE IMPLEMENTATION OF THE COMMON COMMERCIAL POLICY |
| | Commission |
| 2009/C 236/07 | Planned closure of complaint 2009/4209 | 20 |
| | PROCEDURES RELATING TO THE IMPLEMENTATION OF THE COMPETITION POLICY |
| | Commission |
| 2009/C 236/08 | Prior notification of a concentration (Case COMP/M.5632 — Pepsico/Pepsi Americas) (
  1
  ) | 22 |
| 2009/C 236/09 | Prior notification of a concentration (Case COMP/M.5633 — Pepsico/The Pepsico Bottling Group) (
  1
  ) | 23 |
| 2009/C 236/10 | Prior notification of a concentration (Case COMP/M.5565 — BAE Systems/BVT) — Candidate case for simplified procedure (
  1
  ) | 24 |
| | OTHER ACTS |
| | Commission |
| 2009/C 236/11 | Publication of an application pursuant to Article 6(2) of Council Regulation (EC) No 510/2006 on protected geographical indications and designations of origin for agricultural products and foodstuffs | 25 |
| 2009/C 236/12 | Publication of an application pursuant to Article 6(2) of Council Regulation (EC) No 510/2006 on the protection of geographical indications and designations of origin for agricultural products and foodstuffs | 29 |

V   Announcements

PROCEDURES RELATING TO THE IMPLEMENTATION OF THE COMMON COMMERCIAL POLICY

Commission

2009/C 236/07

Planned closure of complaint 2009/4209

20

PROCEDURES RELATING TO THE IMPLEMENTATION OF THE COMPETITION POLICY

Commission

2009/C 236/08

Prior notification of a concentration (Case COMP/M.5632 — Pepsico/Pepsi Americas) (
  1
  )

1

22

2009/C 236/09

Prior notification of a concentration (Case COMP/M.5633 — Pepsico/The Pepsico Bottling Group) (
  1
  )

1

23

2009/C 236/10

Prior notification of a concentration (Case COMP/M.5565 — BAE Systems/BVT) — Candidate case for simplified procedure (
  1
  )

1

24

OTHER ACTS

Commission

2009/C 236/11

Publication of an application pursuant to Article 6(2) of Council Regulation (EC) No 510/2006 on protected geographical indications and designations of origin for agricultural products and foodstuffs

25

2009/C 236/12

Publication of an application pursuant to Article 6(2) of Council Regulation (EC) No 510/2006 on the protection of geographical indications and designations of origin for agricultural products and foodstuffs

29

| | |
| --- | --- |
| | (1)   Text with EEA relevance |

---

(1)   Text with EEA relevance

1

| EN | |
| --- | --- |

EN

---

II Information

INFORMATION FROM EUROPEAN UNION INSTITUTIONS AND BODIES

Commission

| 1.10.2009 | EN | Official Journal of the European Union | C 236/1 |
| --- | --- | --- | --- |

1.10.2009

EN

Official Journal of the European Union

C 236/1

---

Non-opposition to a notified concentration

(Case COMP/M.5613 — Piraeus Bank/BNP Paribas/Greek JV/Swiss JV)

(Text with EEA relevance)

2009/C 236/01

On 24 September 2009, the Commission decided not to oppose the above notified concentration and to declare it compatible with the common market. This decision is based on Article 6(1)(b) of Council Regulation (EC) No 139/2004. The full text of the decision is available only in English and will be made public after it is cleared of any business secrets it may contain. It will be available:

| — | in the merger section of the Competition website of the Commission (http://ec.europa.eu/competition/mergers/cases/). This website provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes, |
| --- | --- |

—

in the merger section of the Competition website of the Commission (http://ec.europa.eu/competition/mergers/cases/). This website provides various facilities to help locate individual merger decisions, including company, case number, date and sectoral indexes,

| — | in electronic form on the EUR-Lex website (http://eur-lex.europa.eu/en/index.htm) under document number 32009M5613. EUR-Lex is the on-line access to the European law. |
| --- | --- |

—

in electronic form on the EUR-Lex website (http://eur-lex.europa.eu/en/index.htm) under document number 32009M5613. EUR-Lex is the on-line access to the European law.

---

IV Notices

NOTICES FROM EUROPEAN UNION INSTITUTIONS AND BODIES

Commission

| 1.10.2009 | EN | Official Journal of the European Union | C 236/2 |
| --- | --- | --- | --- |

1.10.2009

EN

Official Journal of the European Union

C 236/2

---

Euro exchange rates (1)

30 September 2009

2009/C 236/02

1 euro =

| | Currency | Exchange rate |
| --- | --- | --- |
| USD | US dollar | 1,4643 |
| JPY | Japanese yen | 131,07 |
| DKK | Danish krone | 7,4443 |
| GBP | Pound sterling | 0,90930 |
| SEK | Swedish krona | 10,2320 |
| CHF | Swiss franc | 1,5078 |
| ISK | Iceland króna | |
| NOK | Norwegian krone | 8,4600 |
| BGN | Bulgarian lev | 1,9558 |
| CZK | Czech koruna | 25,164 |
| EEK | Estonian kroon | 15,6466 |
| HUF | Hungarian forint | 269,70 |
| LTL | Lithuanian litas | 3,4528 |
| LVL | Latvian lats | 0,7079 |
| PLN | Polish zloty | 4,2295 |
| RON | Romanian leu | 4,2180 |
| TRY | Turkish lira | 2,1734 |
| AUD | Australian dollar | 1,6596 |
| CAD | Canadian dollar | 1,5709 |
| HKD | Hong Kong dollar | 11,3485 |
| NZD | New Zealand dollar | 2,0287 |
| SGD | Singapore dollar | 2,0654 |
| KRW | South Korean won | 1 723,95 |
| ZAR | South African rand | 10,8984 |
| CNY | Chinese yuan renminbi | 9,9958 |
| HRK | Croatian kuna | 7,2580 |
| IDR | Indonesian rupiah | 14 130,03 |
| MYR | Malaysian ringgit | 5,0679 |
| PHP | Philippine peso | 69,318 |
| RUB | Russian rouble | 43,9800 |
| THB | Thai baht | 48,988 |
| BRL | Brazilian real | 2,6050 |
| MXN | Mexican peso | 19,7454 |
| INR | Indian rupee | 70,0010 |

Currency

Exchange rate

USD

US dollar

1,4643

JPY

Japanese yen

131,07

DKK

Danish krone

7,4443

GBP

Pound sterling

0,90930

SEK

Swedish krona

10,2320

CHF

Swiss franc

1,5078

ISK

Iceland króna

NOK

Norwegian krone

8,4600

BGN

Bulgarian lev

1,9558

CZK

Czech koruna

25,164

EEK

Estonian kroon

15,6466

HUF

Hungarian forint

269,70

LTL

Lithuanian litas

3,4528

LVL

Latvian lats

0,7079

PLN

Polish zloty

4,2295

RON

Romanian leu

4,2180

TRY

Turkish lira

2,1734

AUD

Australian dollar

1,6596

CAD

Canadian dollar

1,5709

HKD

Hong Kong dollar

11,3485

NZD

New Zealand dollar

2,0287

SGD

Singapore dollar

2,0654

KRW

South Korean won

1 723,95

ZAR

South African rand

10,8984

CNY

Chinese yuan renminbi

9,9958

HRK

Croatian kuna

7,2580

IDR

Indonesian rupiah

14 130,03

MYR

Malaysian ringgit

5,0679

PHP

Philippine peso

69,318

RUB

Russian rouble

43,9800

THB

Thai baht

48,988

BRL

Brazilian real

2,6050

MXN

Mexican peso

19,7454

INR

Indian rupee

70,0010

---

(1)  Source: reference exchange rate published by the ECB.

---

| 1.10.2009 | EN | Official Journal of the European Union | C 236/3 |
| --- | --- | --- | --- |

1.10.2009

EN

Official Journal of the European Union

C 236/3

---

Commission notice on current State aid recovery interest rates and reference/discount rates for 27 Member States applicable as from 1 September 2009

(Published in accordance with Article 10 of Commission Regulation (EC) No 794/2004 of 21 April 2004 (OJ L 140, 30.4.2004, p. 1))

2009/C 236/03

Base rates calculated in accordance with the Communication from the Commission on the revision of the method for setting the reference and discount rates (OJ C 14, 19.1.2008, p. 6). Depending on the use of the reference rate, the appropriate margins have still to be added as defined in this communication. For the discount rate this means that a margin of 100 basis points has to be added. The Commission Regulation (EC) No 271/2008 of 30 January 2008 amending the implementing Regulation (EC) No 794/2004 foresees that, unless otherwise provided for in a specific decision, the recovery rate will also be calculated by adding 100 basis points to the base rate.

| From | To | AT | BE | BG | CY | CZ | DE | DK | EE | EL | ES | FI | FR | HU | IE | IT | LT | LU | LV | MT | NL | PL | PT | RO | SE | SI | SK | UK |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1.9.2009 | | 1,77 | 1,77 | 6,41 | 1,77 | 2,96 | 1,77 | 2,78 | 7,34 | 1,77 | 1,77 | 1,77 | 1,77 | 10,01 | 1,77 | 1,77 | 9,53 | 1,77 | 15,54 | 1,77 | 1,77 | 4,53 | 1,77 | 10,75 | 1,49 | 1,77 | 1,77 | 1,85 |
| 1.8.2009 | 31.8.2009 | 1,77 | 1,77 | 6,41 | 1,77 | 2,96 | 1,77 | 2,78 | 7,34 | 1,77 | 1,77 | 1,77 | 1,77 | 10,01 | 1,77 | 1,77 | 9,53 | 1,77 | 15,54 | 1,77 | 1,77 | 4,53 | 1,77 | 13,20 | 1,49 | 1,77 | 1,77 | 1,85 |
| 1.7.2009 | 31.7.2009 | 1,77 | 1,77 | 6,41 | 1,77 | 2,96 | 1,77 | 3,44 | 7,34 | 1,77 | 1,77 | 1,77 | 1,77 | 10,01 | 1,77 | 1,77 | 9,53 | 1,77 | 13,20 | 1,77 | 1,77 | 4,53 | 1,77 | 13,20 | 1,49 | 1,77 | 1,77 | 2,20 |
| 1.6.2009 | 30.6.2009 | 2,22 | 2,22 | 6,41 | 2,22 | 2,96 | 2,22 | 3,44 | 7,34 | 2,22 | 2,22 | 2,22 | 2,22 | 10,01 | 2,22 | 2,22 | 9,53 | 2,22 | 13,20 | 2,22 | 2,22 | 4,53 | 2,22 | 17,29 | 1,49 | 2,22 | 2,22 | 2,20 |
| 1.5.2009 | 31.5.2009 | 2,22 | 2,22 | 7,63 | 2,22 | 2,96 | 2,22 | 4,57 | 7,34 | 2,22 | 2,22 | 2,22 | 2,22 | 10,01 | 2,22 | 2,22 | 9,53 | 2,22 | 13,20 | 2,22 | 2,22 | 5,62 | 2,22 | 17,29 | 1,81 | 2,22 | 2,22 | 2,84 |
| 1.4.2009 | 30.4.2009 | 2,74 | 2,74 | 7,63 | 2,74 | 2,96 | 2,74 | 4,57 | 7,34 | 2,74 | 2,74 | 2,74 | 2,74 | 10,01 | 2,74 | 2,74 | 9,53 | 2,74 | 13,20 | 2,74 | 2,74 | 5,62 | 2,74 | 17,29 | 2,30 | 2,74 | 2,74 | 2,84 |
| 1.3.2009 | 31.3.2009 | 3,47 | 3,47 | 7,63 | 3,47 | 3,74 | 3,47 | 6,00 | 7,34 | 3,47 | 3,47 | 3,47 | 3,47 | 10,01 | 3,47 | 3,47 | 9,53 | 3,47 | 13,20 | 3,47 | 3,47 | 6,78 | 3,47 | 17,29 | 3,31 | 3,47 | 3,47 | 3,58 |
| 1.2.2009 | 28.2.2009 | 4,99 | 4,99 | 7,63 | 4,99 | 4,53 | 4,99 | 6,00 | 7,34 | 4,99 | 4,99 | 4,99 | 4,99 | 10,01 | 4,99 | 4,99 | 7,81 | 4,99 | 13,20 | 4,99 | 4,99 | 6,78 | 4,99 | 17,29 | 4,31 | 4,99 | 4,99 | 4,81 |
| 1.1.2009 | 31.1.2009 | 4,99 | 4,99 | 7,63 | 4,99 | 4,53 | 4,99 | 6,00 | 7,34 | 4,99 | 4,99 | 4,99 | 4,99 | 10,01 | 4,99 | 4,99 | 7,81 | 4,99 | 11,05 | 4,99 | 4,99 | 6,78 | 4,99 | 17,29 | 5,18 | 4,99 | 4,99 | 5,70 |
| 1.12.2008 | 31.12.2008 | 5,36 | 5,36 | 6,70 | 5,36 | 4,20 | 5,36 | 5,55 | 6,43 | 5,36 | 5,36 | 5,36 | 5,36 | 8,58 | 5,36 | 5,36 | 7,10 | 5,36 | 9,44 | 5,36 | 5,36 | 6,42 | 5,36 | 15,87 | 5,49 | 5,36 | 5,00 | 5,66 |
| 1.11.2008 | 30.11.2008 | 5,36 | 5,36 | 6,70 | 5,36 | 4,20 | 5,36 | 5,55 | 6,43 | 5,36 | 5,36 | 5,36 | 5,36 | 8,58 | 5,36 | 5,36 | 6,10 | 5,36 | 9,44 | 5,36 | 5,36 | 6,42 | 5,36 | 11,02 | 5,49 | 5,36 | 5,00 | 5,66 |
| 1.10.2008 | 31.10.2008 | 5,36 | 5,36 | 6,70 | 5,36 | 4,20 | 5,36 | 5,55 | 6,43 | 5,36 | 5,36 | 5,36 | 5,36 | 8,58 | 5,36 | 5,36 | 6,10 | 5,36 | 9,44 | 5,36 | 5,36 | 6,42 | 5,36 | 11,02 | 5,49 | 5,36 | 4,34 | 5,66 |
| 1.9.2008 | 30.9.2008 | 4,59 | 4,59 | 6,70 | 4,59 | 4,20 | 4,59 | 5,55 | 6,43 | 4,59 | 4,59 | 4,59 | 4,59 | 8,58 | 4,59 | 4,59 | 6,10 | 4,59 | 9,44 | 4,59 | 4,59 | 6,42 | 4,59 | 11,02 | 5,49 | 4,59 | 4,34 | 5,66 |
| 1.7.2008 | 31.8.2008 | 4,59 | 4,59 | 6,70 | 4,59 | 4,20 | 4,59 | 4,81 | 6,43 | 4,59 | 4,59 | 4,59 | 4,59 | 8,58 | 4,59 | 4,59 | 6,10 | 4,59 | 9,44 | 4,59 | 4,59 | 6,42 | 4,59 | 11,02 | 4,75 | 4,59 | 4,34 | 5,66 |

From

To

AT

BE

BG

CY

CZ

DE

DK

EE

EL

ES

FI

FR

HU

IE

IT

LT

LU

LV

MT

NL

PL

PT

RO

SE

SI

SK

UK

1.9.2009

1,77

1,77

6,41

1,77

2,96

1,77

2,78

7,34

1,77

1,77

1,77

1,77

10,01

1,77

1,77

9,53

1,77

15,54

1,77

1,77

4,53

1,77

10,75

1,49

1,77

1,77

1,85

1.8.2009

31.8.2009

1,77

1,77

6,41

1,77

2,96

1,77

2,78

7,34

1,77

1,77

1,77

1,77

10,01

1,77

1,77

9,53

1,77

15,54

1,77

1,77

4,53

1,77

13,20

1,49

1,77

1,77

1,85

1.7.2009

31.7.2009

1,77

1,77

6,41

1,77

2,96

1,77

3,44

7,34

1,77

1,77

1,77

1,77

10,01

1,77

1,77

9,53

1,77

13,20

1,77

1,77

4,53

1,77

13,20

1,49

1,77

1,77

2,20

1.6.2009

30.6.2009

2,22

2,22

6,41

2,22

2,96

2,22

3,44

7,34

2,22

2,22

2,22

2,22

10,01

2,22

2,22

9,53

2,22

13,20

2,22

2,22

4,53

2,22

17,29

1,49

2,22

2,22

2,20

1.5.2009

31.5.2009

2,22

2,22

7,63

2,22

2,96

2,22

4,57

7,34

2,22

2,22

2,22

2,22

10,01

2,22

2,22

9,53

2,22

13,20

2,22

2,22

5,62

2,22

17,29

1,81

2,22

2,22

2,84

1.4.2009

30.4.2009

2,74

2,74

7,63

2,74

2,96

2,74

4,57

7,34

2,74

2,74

2,74

2,74

10,01

2,74

2,74

9,53

2,74

13,20

2,74

2,74

5,62

2,74

17,29

2,30

2,74

2,74

2,84

1.3.2009

31.3.2009

3,47

3,47

7,63

3,47

3,74

3,47

6,00

7,34

3,47

3,47

3,47

3,47

10,01

3,47

3,47

9,53

3,47

13,20

3,47

3,47

6,78

3,47

17,29

3,31

3,47

3,47

3,58

1.2.2009

28.2.2009

4,99

4,99

7,63

4,99

4,53

4,99

6,00

7,34

4,99

4,99

4,99

4,99

10,01

4,99

4,99

7,81

4,99

13,20

4,99

4,99

6,78

4,99

17,29

4,31

4,99

4,99

4,81

1.1.2009

31.1.2009

4,99

4,99

7,63

4,99

4,53

4,99

6,00

7,34

4,99

4,99

4,99

4,99

10,01

4,99

4,99

7,81

4,99

11,05

4,99

4,99

6,78

4,99

17,29

5,18

4,99

4,99

5,70

1.12.2008

31.12.2008

5,36

5,36

6,70

5,36

4,20

5,36

5,55

6,43

5,36

5,36

5,36

5,36

8,58

5,36

5,36

7,10

5,36

9,44

5,36

5,36

6,42

5,36

15,87

5,49

5,36

5,00

5,66

1.11.2008

30.11.2008

5,36

5,36

6,70

5,36

4,20

5,36

5,55

6,43

5,36

5,36

5,36

5,36

8,58

5,36

5,36

6,10

5,36

9,44

5,36

5,36

6,42

5,36

11,02

5,49

5,36

5,00

5,66

1.10.2008

31.10.2008

5,36

5,36

6,70

5,36

4,20

5,36

5,55

6,43

5,36

5,36

5,36

5,36

8,58

5,36

5,36

6,10

5,36

9,44

5,36

5,36

6,42

5,36

11,02

5,49

5,36

4,34

5,66

1.9.2008

30.9.2008

4,59

4,59

6,70

4,59

4,20

4,59

5,55

6,43

4,59

4,59

4,59

4,59

8,58

4,59

4,59

6,10

4,59

9,44

4,59

4,59

6,42

4,59

11,02

5,49

4,59

4,34

5,66

1.7.2008

31.8.2008

4,59

4,59

6,70

4,59

4,20

4,59

4,81

6,43

4,59

4,59

4,59

4,59

8,58

4,59

4,59

6,10

4,59

9,44

4,59

4,59

6,42

4,59

11,02

4,75

4,59

4,34

5,66

---

| 1.10.2009 | EN | Official Journal of the European Union | C 236/4 |
| --- | --- | --- | --- |

1.10.2009

EN

Official Journal of the European Union

C 236/4

---

Commission notice on current State aid recovery interest rates and reference/discount rates for 27 Member States applicable as from 1 October 2009

(Published in accordance with Article 10 of Commission Regulation (EC) No 794/2004 of 21 April 2004 (OJ L 140, 30.4.2004, p. 1))

2009/C 236/04

Base rates calculated in accordance with the Communication from the Commission on the revision of the method for setting the reference and discount rates (OJ C 14, 19.1.2008, p. 6). Depending on the use of the reference rate, the appropriate margins have still to be added as defined in this communication. For the discount rate this means that a margin of 100 basis points has to be added. The Commission Regulation (EC) No 271/2008 of 30 January 2008 amending the implementing Regulation (EC) No 794/2004 foresees that, unless otherwise provided for in a specific decision, the recovery rate will also be calculated by adding 100 basis points to the base rate.

| From | To | AT | BE | BG | CY | CZ | DE | DK | EE | EL | ES | FI | FR | HU | IE | IT | LT | LU | LV | MT | NL | PL | PT | RO | SE | SI | SK | UK |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 1.10.2009 | ... | 1,45 | 1,45 | 6,41 | 1,45 | 2,49 | 1,45 | 2,31 | 7,34 | 1,45 | 1,45 | 1,45 | 1,45 | 10,01 | 1,45 | 1,45 | 9,53 | 1,45 | 18,77 | 1,45 | 1,45 | 4,53 | 1,45 | 10,75 | 1,49 | 1,45 | 1,45 | 1,53 |
| 1.9.2009 | 30.9.2009 | 1,77 | 1,77 | 6,41 | 1,77 | 2,96 | 1,77 | 2,78 | 7,34 | 1,77 | 1,77 | 1,77 | 1,77 | 10,01 | 1,77 | 1,77 | 9,53 | 1,77 | 15,54 | 1,77 | 1,77 | 4,53 | 1,77 | 10,75 | 1,49 | 1,77 | 1,77 | 1,85 |
| 1.8.2009 | 31.8.2009 | 1,77 | 1,77 | 6,41 | 1,77 | 2,96 | 1,77 | 2,78 | 7,34 | 1,77 | 1,77 | 1,77 | 1,77 | 10,01 | 1,77 | 1,77 | 9,53 | 1,77 | 15,54 | 1,77 | 1,77 | 4,53 | 1,77 | 13,20 | 1,49 | 1,77 | 1,77 | 1,85 |
| 1.7.2009 | 31.7.2009 | 1,77 | 1,77 | 6,41 | 1,77 | 2,96 | 1,77 | 3,44 | 7,34 | 1,77 | 1,77 | 1,77 | 1,77 | 10,01 | 1,77 | 1,77 | 9,53 | 1,77 | 13,20 | 1,77 | 1,77 | 4,53 | 1,77 | 13,20 | 1,49 | 1,77 | 1,77 | 2,20 |
| 1.6.2009 | 30.6.2009 | 2,22 | 2,22 | 6,41 | 2,22 | 2,96 | 2,22 | 3,44 | 7,34 | 2,22 | 2,22 | 2,22 | 2,22 | 10,01 | 2,22 | 2,22 | 9,53 | 2,22 | 13,20 | 2,22 | 2,22 | 4,53 | 2,22 | 17,29 | 1,49 | 2,22 | 2,22 | 2,20 |
| 1.5.2009 | 31.5.2009 | 2,22 | 2,22 | 7,63 | 2,22 | 2,96 | 2,22 | 4,57 | 7,34 | 2,22 | 2,22 | 2,22 | 2,22 | 10,01 | 2,22 | 2,22 | 9,53 | 2,22 | 13,20 | 2,22 | 2,22 | 5,62 | 2,22 | 17,29 | 1,81 | 2,22 | 2,22 | 2,84 |
| 1.4.2009 | 30.4.2009 | 2,74 | 2,74 | 7,63 | 2,74 | 2,96 | 2,74 | 4,57 | 7,34 | 2,74 | 2,74 | 2,74 | 2,74 | 10,01 | 2,74 | 2,74 | 9,53 | 2,74 | 13,20 | 2,74 | 2,74 | 5,62 | 2,74 | 17,29 | 2,30 | 2,74 | 2,74 | 2,84 |
| 1.3.2009 | 31.3.2009 | 3,47 | 3,47 | 7,63 | 3,47 | 3,74 | 3,47 | 6,00 | 7,34 | 3,47 | 3,47 | 3,47 | 3,47 | 10,01 | 3,47 | 3,47 | 9,53 | 3,47 | 13,20 | 3,47 | 3,47 | 6,78 | 3,47 | 17,29 | 3,31 | 3,47 | 3,47 | 3,58 |
| 1.2.2009 | 28.2.2009 | 4,99 | 4,99 | 7,63 | 4,99 | 4,53 | 4,99 | 6,00 | 7,34 | 4,99 | 4,99 | 4,99 | 4,99 | 10,01 | 4,99 | 4,99 | 7,81 | 4,99 | 13,20 | 4,99 | 4,99 | 6,78 | 4,99 | 17,29 | 4,31 | 4,99 | 4,99 | 4,81 |
| 1.1.2009 | 31.1.2009 | 4,99 | 4,99 | 7,63 | 4,99 | 4,53 | 4,99 | 6,00 | 7,34 | 4,99 | 4,99 | 4,99 | 4,99 | 10,01 | 4,99 | 4,99 | 7,81 | 4,99 | 11,05 | 4,99 | 4,99 | 6,78 | 4,99 | 17,29 | 5,18 | 4,99 | 4,99 | 5,70 |
| 1.12.2008 | 31.12.2008 | 5,36 | 5,36 | 6,70 | 5,36 | 4,20 | 5,36 | 5,55 | 6,43 | 5,36 | 5,36 | 5,36 | 5,36 | 8,58 | 5,36 | 5,36 | 7,10 | 5,36 | 9,44 | 5,36 | 5,36 | 6,42 | 5,36 | 15,87 | 5,49 | 5,36 | 5,00 | 5,66 |
| 1.11.2008 | 30.11.2008 | 5,36 | 5,36 | 6,70 | 5,36 | 4,20 | 5,36 | 5,55 | 6,43 | 5,36 | 5,36 | 5,36 | 5,36 | 8,58 | 5,36 | 5,36 | 6,10 | 5,36 | 9,44 | 5,36 | 5,36 | 6,42 | 5,36 | 11,02 | 5,49 | 5,36 | 5,00 | 5,66 |
| 1.10.2008 | 31.10.2008 | 5,36 | 5,36 | 6,70 | 5,36 | 4,20 | 5,36 | 5,55 | 6,43 | 5,36 | 5,36 | 5,36 | 5,36 | 8,58 | 5,36 | 5,36 | 6,10 | 5,36 | 9,44 | 5,36 | 5,36 | 6,42 | 5,36 | 11,02 | 5,49 | 5,36 | 4,34 | 5,66 |
| 1.9.2008 | 30.9.2008 | 4,59 | 4,59 | 6,70 | 4,59 | 4,20 | 4,59 | 5,55 | 6,43 | 4,59 | 4,59 | 4,59 | 4,59 | 8,58 | 4,59 | 4,59 | 6,10 | 4,59 | 9,44 | 4,59 | 4,59 | 6,42 | 4,59 | 11,02 | 5,49 | 4,59 | 4,34 | 5,66 |
| 1.7.2008 | 31.8.2008 | 4,59 | 4,59 | 6,70 | 4,59 | 4,20 | 4,59 | 4,81 | 6,43 | 4,59 | 4,59 | 4,59 | 4,59 | 8,58 | 4,59 | 4,59 | 6,10 | 4,59 | 9,44 | 4,59 | 4,59 | 6,42 | 4,59 | 11,02 | 4,75 | 4,59 | 4,34 | 5,66 |

From

To

AT

BE

BG

CY

CZ

DE

DK

EE

EL

ES

FI

FR

HU

IE

IT

LT

LU

LV

MT

NL

PL

PT

RO

SE

SI

SK

UK

1.10.2009

...

1,45

1,45

6,41

1,45

2,49

1,45

2,31

7,34

1,45

1,45

1,45

1,45

10,01

1,45

1,45

9,53

1,45

18,77

1,45

1,45

4,53

1,45

10,75

1,49

1,45

1,45

1,53

1.9.2009

30.9.2009

1,77

1,77

6,41

1,77

2,96

1,77

2,78

7,34

1,77

1,77

1,77

1,77

10,01

1,77

1,77

9,53

1,77

15,54

1,77

1,77

4,53

1,77

10,75

1,49

1,77

1,77

1,85

1.8.2009

31.8.2009

1,77

1,77

6,41

1,77

2,96

1,77

2,78

7,34

1,77

1,77

1,77

1,77

10,01

1,77

1,77

9,53

1,77

15,54

1,77

1,77

4,53

1,77

13,20

1,49

1,77

1,77

1,85

1.7.2009

31.7.2009

1,77

1,77

6,41

1,77

2,96

1,77

3,44

7,34

1,77

1,77

1,77

1,77

10,01

1,77

1,77

9,53

1,77

13,20

1,77

1,77

4,53

1,77

13,20

1,49

1,77

1,77

2,20

1.6.2009

30.6.2009

2,22

2,22

6,41

2,22

2,96

2,22

3,44

7,34

2,22

2,22

2,22

2,22

10,01

2,22

2,22

9,53

2,22

13,20

2,22

2,22

4,53

2,22

17,29

1,49

2,22

2,22

2,20

1.5.2009

31.5.2009

2,22

2,22

7,63

2,22

2,96

2,22

4,57

7,34

2,22

2,22

2,22

2,22

10,01

2,22

2,22

9,53

2,22

13,20

2,22

2,22

5,62

2,22

17,29

1,81

2,22

2,22

2,84

1.4.2009

30.4.2009

2,74

2,74

7,63

2,74

2,96

2,74

4,57

7,34

2,74

2,74

2,74

2,74

10,01

2,74

2,74

9,53

2,74

13,20

2,74

2,74

5,62

2,74

17,29

2,30

2,74

2,74

2,84

1.3.2009

31.3.2009

3,47

3,47

7,63

3,47

3,74

3,47

6,00

7,34

3,47

3,47

3,47

3,47

10,01

3,47

3,47

9,53

3,47

13,20

3,47

3,47

6,78

3,47

17,29

3,31

3,47

3,47

3,58

1.2.2009

28.2.2009

4,99

4,99

7,63

4,99

4,53

4,99

6,00

7,34

4,99

4,99

4,99

4,99

10,01

4,99

4,99

7,81

4,99

13,20

4,99

4,99

6,78

4,99

17,29

4,31

4,99

4,99

4,81

1.1.2009

31.1.2009

4,99

4,99

7,63

4,99

4,53

4,99

6,00

7,34

4,99

4,99

4,99

4,99

10,01

4,99

4,99

7,81

4,99

11,05

4,99

4,99

6,78

4,99

17,29

5,18

4,99

4,99

5,70

1.12.2008

31.12.2008

5,36

5,36

6,70

5,36

4,20

5,36

5,55

6,43

5,36

5,36

5,36

5,36

8,58

5,36

5,36

7,10

5,36

9,44

5,36

5,36

6,42

5,36

15,87

5,49

5,36

5,00

5,66

1.11.2008

30.11.2008

5,36

5,36

6,70

5,36

4,20

5,36

5,55

6,43

5,36

5,36

5,36

5,36

8,58

5,36

5,36

6,10

5,36

9,44

5,36

5,36

6,42

5,36

11,02

5,49

5,36

5,00

5,66

1.10.2008

31.10.2008

5,36

5,36

6,70

5,36

4,20

5,36

5,55

6,43

5,36

5,36

5,36

5,36

8,58

5,36

5,36

6,10

5,36

9,44

5,36

5,36

6,42

5,36

11,02

5,49

5,36

4,34

5,66

1.9.2008

30.9.2008

4,59

4,59

6,70

4,59

4,20

4,59

5,55

6,43

4,59

4,59

4,59

4,59

8,58

4,59

4,59

6,10

4,59

9,44

4,59

4,59

6,42

4,59

11,02

5,49

4,59

4,34

5,66

1.7.2008

31.8.2008

4,59

4,59

6,70

4,59

4,20

4,59

4,81

6,43

4,59

4,59

4,59

4,59

8,58

4,59

4,59

6,10

4,59

9,44

4,59

4,59

6,42

4,59

11,02

4,75

4,59

4,34

5,66

---

NOTICES CONCERNING THE EUROPEAN ECONOMIC AREA

Commission

| 1.10.2009 | EN | Official Journal of the European Union | C 236/5 |
| --- | --- | --- | --- |

1.10.2009

EN

Official Journal of the European Union

C 236/5

---

Authorisation of State aid pursuant to Article 61 of the EEA Agreement and Article 1(3) in Part 1 of Protocol 3 to the Surveillance and Court Agreement

2009/C 236/05

The EFTA Surveillance Authority raises no objections to the following aid measure:

| Date of adoption of the decision | : | 31.3.2009 |
| --- | --- | --- |
| Case number | : | 65120 |
| EFTA State | : | Norway |
| Title (and/or name of the beneficiary) | : | Aid schemes for audiovisual productions and development of screenplays and educational measures |
| Legal basis | : | Regulation for support to audiovisual productions
  Regulation for support for screenplay development and educational measures
  State budget 2009 (Chapter 0334 regarding film and media) |
| Type of measure | : | Scheme |
| Objective | : | Culture |
| Form of aid | : | Direct grants |
| Budget | : | NOK 321 million in 2008 |
| Duration | : | Until 31 December 2014 |
| Economic sectors | : | Cultural |

Date of adoption of the decision

:

31.3.2009

Case number

:

65120

EFTA State

:

Norway

Title (and/or name of the beneficiary)

:

Aid schemes for audiovisual productions and development of screenplays and educational measures

Legal basis

:

Regulation for support to audiovisual productions

Regulation for support for screenplay development and educational measures

State budget 2009 (Chapter 0334 regarding film and media)

Type of measure

:

Scheme

Objective

:

Culture

Form of aid

:

Direct grants

Budget

:

NOK 321 million in 2008

Duration

:

Until 31 December 2014

Economic sectors

:

Cultural

The authentic text of the decision, from which all confidential information has been removed, can be found on the EFTA Surveillance Authority’s website:

http://www.eftasurv.int/fieldsofwork/fieldstateaid/stateaidregistry/

---

EFTA Surveillance Authority

| 1.10.2009 | EN | Official Journal of the European Union | C 236/6 |
| --- | --- | --- | --- |

1.10.2009

EN

Official Journal of the European Union

C 236/6

---

Invitation to submit comments pursuant to Article 1(2) in Part I of Protocol 3 to the Agreement between the EFTA States on the Establishment of a Surveillance Authority and a Court of Justice on State aid with regard to taxation of investment undertakings according to the Liechtenstein Tax Act

2009/C 236/06

By means of Decision No 149/09/COL of 18 March 2009, reproduced in the authentic language on the pages following this summary, the EFTA Surveillance Authority initiated proceedings pursuant to Article 1(2) in Part I of Protocol 3 to the Agreement between the EFTA States on the Establishment of a Surveillance Authority and a Court of Justice. The Liechtenstein authorities have been informed by means of a copy of the decision.

The EFTA Surveillance Authority hereby gives the EFTA States, EU Member States and interested parties notice to submit their comments on the measure in question within one month from the publication of this notice to:

| EFTA Surveillance Authority |
| --- |
| Registry |
| Rue Belliard 35 |
| 1040 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

EFTA Surveillance Authority

Registry

Rue Belliard 35

1040 Bruxelles/Brussel

BELGIQUE/BELGIË

The comments will be communicated to the Liechtenstein authorities. Confidential treatment of the identity of the interested party submitting the comments may be requested in writing, stating the reasons for the request.

SUMMARY

The case was initiated by the Authority sending a request for information to the Liechtenstein authorities 14 March 2007.

According to Section 2 of Act of 3 May 1996 on Investment Undertakings (Gesetz über Investmentunternehmen, hereafter the ‘IUG’) investment undertaking are:

‘assets raised from the public following public advertising for the purpose of a collective capital investment which are invested and managed for the collective account of the individual investors usually according to the principle of risk-spreading’

Investment undertaking within the meaning of the IUG describes the fund capital placed by different investors. To deal commercially on the market, an investment undertaking needs to fulfil three requirements in terms of the IUG:

| — | it needs to choose a recognised legal form, |
| --- | --- |

—

it needs to choose a recognised legal form,

| — | the management needs to be carried out by a body which has legal personality, |
| --- | --- |

—

the management needs to be carried out by a body which has legal personality,

| — | it needs to have a deposit account in a depot bank (see Section 39 IUG 1996). |
| --- | --- |

—

it needs to have a deposit account in a depot bank (see Section 39 IUG 1996).

Regardless of the organizational form, the assets transferred by the investors (the managed assets) must be differentiated from the own assets of the management company.

For taxation purposes, in the case of investment companies no distinction was made between the management company’s own assets and the managed assets as both were subject to the rules applying to domiciliary companies as such in accordance with Section 85(2) of the Tax Act. That meant that no income tax was levied for the management activities or for the managed assets. The capital tax was fixed at 1 ‰ instead of 2 ‰ and reduced further for any capital exceeding CHF 2 million. No coupon tax was levied.

With effect from 2006, a new section 35(3) was introduced in the Act on investment undertakings. This provision requires also the investment companies to record and hold separately own and managed assets. Further, the Tax Act was revised in 2005. Section 85(2) of the Tax Act, which provided for a similar taxation as applicable for domiciliary companies and a reduced capital tax for any amount in excess of CHF 2 million, was repealed. Instead, a new section 73(f) was inserted, which require the fund direction of an investment fund and investment companies to pay income and capital tax in relation to its own assets. In addition, following this reform, investment companies were also subject to payment of a coupon tax.

The presence of State aid

The presence of State aid

The Authority has assessed whether the tax reliefs applicable to investment companies between 1996 and 2006 constitute State aid within the meaning of Article 61(1) of the EEA Agreement.

Undertaking

Undertaking

According to the European Court of Justice, the notion of an undertaking in the sense of Article 87 EC, which corresponds to Article 61(1) of the EEA Agreement, encompasses ‘every entity engaged in an economic activity, regardless of the legal status of the entity and the way in which it is financed’ (1).

every entity engaged in an economic activity, regardless of the legal status of the entity and the way in which it is financed

1

Investment companies under Liechtenstein law take corporate form as they are organised as companies limited by shares or Societas Europea. They are active with assembling and managing the assets of various investors with the intention of making profits via various fees related to the placements. The Authority consequently finds that investment companies for the part of the company carrying out the asset management are undertakings within the meaning of Article 61(1) of the EEA Agreement (2).

2

Advantage

Advantage

By not being obliged to pay any income or coupon tax and only a reduced capital tax on their own assets, investment companies received an advantage in relation to other undertakings, in particular towards the fund direction of investment funds who were subject to ordinary taxation on revenues from their business activities.

The advantage is selective as it was granted only to investment undertakings organised in the form of investment companies. In the Authority’s preliminary view, the tax relief on the management company’s own assets cannot be justified by the nature and overall scheme of the Liechtenstein taxation system.

Presence of State resources

Presence of State resources

The advantage must be granted by the State or through State resources. A loss of tax revenue is equivalent to consumption of state resources in the form of fiscal expenditure (3). The Liechtenstein State foregoes revenues in the form of tax income from the investment companies.

3

Distortion of competition and effect on trade between Contracting Parties

Distortion of competition and effect on trade between Contracting Parties

When a support measure granted by the State strengthens the position of an undertaking vis-à-vis other undertakings competing in EEA trade, the latter must be regarded as affected by that aid. Therefore, the Authority takes the preliminary view that the tax concessions for the own assets of investment companies from 1996 to 2005 strengthened the competitive position of the investment companies within the EEA, as these tax concessions reduced the ordinary operational costs of these companies compared to other EEA companies which can operate in international markets (4).

4

For the above-mentioned reasons, the Authority takes the preliminary view that the tax relief on the management companies’ own assets constitutes state aid with the meaning of Article 61(1) of the EEA Agreement.

Compatibility of the aid

Compatibility of the aid

The Authority has doubts that the tax derogations under assessment are compatible with the EEA Agreement on the basis of any of the derogations provided for in Article 61(2) and (3) of the EEA Agreement.

Conclusion

Conclusion

In the light of the foregoing considerations, the Authority decided to open the formal investigation procedure in accordance with Article 1(2) of the EEA Agreement. Interested parties are invited to submit their comments within one month from publication of this Decision in the Official Journal of the European Union.

Official Journal of the European Union

EFTA SURVEILLANCE AUTHORITY DECISION

No 149/09/COL

of 18 March 2009

to initiate the procedure provided for in Article 1(2) in Part I of Protocol 3 to the Surveillance and Court Agreement with regard to the taxation of investment undertakings according to the Liechtenstein Tax Act

(Liechtenstein)

THE EFTA SURVEILLANCE AUTHORITY (5),

Having regard to the Agreement on the European Economic Area (6), in particular to Articles 61 to 63 and Protocol 26 thereof,

Having regard to the Agreement between the EFTA States on the Establishment of a Surveillance Authority and a Court of Justice (7), in particular to Article 24 thereof,

Having regard to Article 1(2) of Part I and Article 4(4) and 6 of Part II of Protocol 3 to the Surveillance and Court Agreement (8),

Having regard to the Authority’s Guidelines (9) on the application and interpretation of Articles 61 and 62 of the EEA Agreement, and in particular the chapter dealing with the application of State aid rules to measures relating to direct business taxation,

Having regard to the Authority’s Decision of 14 July 2004 on the implementing provisions referred to under Article 27 of Part II of Protocol 3 (10),

Whereas:

I.   FACTS

1.   Procedure

By letter dated 14 March 2007 (Event No 393563), the Authority sent a request for information to the Liechtenstein authorities, inquiring about various tax derogations for certain company types under the Liechtenstein Tax Act. The Liechtenstein authorities provided information by letter dated 30 May 2007 (Event No 423398).

By letter dated 12 July 2007 (Event No 428102), the Authority requested more information. The Liechtenstein authorities provided a response by letter dated 29 August 2007 (Event No 437041). On 31 October 2007, the case was discussed by the Authority and the Liechtenstein authorities. The Liechtenstein authorities submitted further information by letter dated 3 December 2007 (Event No 456325). The Liechtenstein authorities presented the case in another meeting with the Authority on 18 December. The Authority requested further information on 20 December 2007 (Event No 458438). The Liechtenstein authorities responded by letter dated 1 February 2008 (Event No 463410). Further clarifications were submitted by the Liechtenstein authorities by email. By letter dated 6 October 2008, the Liechtenstein authorities submitted an expert study on the legal forms of investment undertakings and the respective taxation they were subject to (Event No 493967) (11). By email dated 19 January 2009, the Liechtenstein authorities submitted further information. The case was further discussed with the Liechtenstein authorities in a meeting in Vaduz on 27 January 2009.

2.   Scope of this decision

The current investigation concerns the treatment of investment undertakings under the Liechtenstein Tax Act (Gesetz über die Landes-und Gemeindesteuern, hereinafter: ‘the Tax Act’) (12) between 1996 and 2006.

3.   General description of investment undertakings

3.1.   Definition of investment undertakings

In 1996, Act of 3 May 1996 on Investment Undertakings (Gesetz über Investmentunternehmen, hereafter the ‘IUG’) was adopted. Section 2 (13) contained a definition of investment undertaking as:

‘assets raised from the public following public advertising for the purpose of a collective capital investment which are invested and managed for the collective account of the individual investors usually according to the principle of risk-spreading’

Investment undertaking within the meaning of the IUG describes the fund capital placed by different investors. To deal commercially on the market, an investment undertaking needs to fulfil three requirements in terms of the IUG:

| — | it needs to choose a recognised legal form, |
| --- | --- |

—

it needs to choose a recognised legal form,

| — | the management needs to be carried out by a body which has legal personality, |
| --- | --- |

—

the management needs to be carried out by a body which has legal personality,

| — | it needs to have a deposit account in a depot bank. |
| --- | --- |

—

it needs to have a deposit account in a depot bank.

| | First condition: Recognised legal form
  Regarding the first requirement, the choice of a recognised legal form, two options are available under Liechtenstein law. The investment undertaking may choose the form of a collective trust (14) in which case it is called investment fund (Anlagefonds). Alternatively, it may opt for the legal form of an investment company (Anlagegesellschaft). |
| --- | --- |

First condition: Recognised legal form

Regarding the first requirement, the choice of a recognised legal form, two options are available under Liechtenstein law. The investment undertaking may choose the form of a collective trust (14) in which case it is called investment fund (Anlagefonds). Alternatively, it may opt for the legal form of an investment company (Anlagegesellschaft).

14

Anlagefonds

Anlagegesellschaft

| | Second condition: The management company
  The management of both types of investment undertaking is carried out by a management company which is called the fund direction in the case of an investment fund (15). The investment undertaking (the fund capital) and the management company (the fund direction) constitute two separate parts.
  In the case of an investment company, the management is taken care of by the investment company itself. That company may be organised either as a company limited by shares or a Societas Europea. The investment company acts via the board of directors or its management. As opposed to an investment fund, the investment company constitutes one single entity.
  In both cases, the entities which are carrying out management functions (management companies) are undertakings operating business activities and carrying out services for a fee. |
| --- | --- |

Second condition: The management company

The management of both types of investment undertaking is carried out by a management company which is called the fund direction in the case of an investment fund (15). The investment undertaking (the fund capital) and the management company (the fund direction) constitute two separate parts.

15

In the case of an investment company, the management is taken care of by the investment company itself. That company may be organised either as a company limited by shares or a Societas Europea. The investment company acts via the board of directors or its management. As opposed to an investment fund, the investment company constitutes one single entity.

Societas Europea

In both cases, the entities which are carrying out management functions (management companies) are undertakings operating business activities and carrying out services for a fee.

| | Third condition: The depot bank
  The fund capital, that is the managed assets of both investment companies and investment funds, is held in custody by a depot bank (16). The depot bank can be any bank having a licence according to the Act on Banks. |
| --- | --- |

Third condition: The depot bank

The fund capital, that is the managed assets of both investment companies and investment funds, is held in custody by a depot bank (16). The depot bank can be any bank having a licence according to the Act on Banks.

16

3.2.   Distinction between managed and own assets of investment undertakings

Distinction between managed and own assets of investment undertakings

Regardless of the organisational form, the assets transferred by the investors (the managed assets) must be differentiated from the own assets of the management company (see sections 4.1 and 4.2 below respectively).

3.2.1.   The assets placed by investors and managed by the management company

The assets placed by investors and managed by the management company

For the establishment of an investment undertaking, the investors transfer their assets to the fund direction of the investment fund or to the management side of the investment company.

The assets raised constitute capital which the original investors have entrusted the management companies to administer for the account and risk of the investors. The fund capital is as such a property object which is subject to taxation.

The management company manages these assets as a separate fund in its own name but on behalf and for the account of the investors. Section 66(4) IUG stipulates that the managed assets of an investment undertaking do not form part of the management company’s own assets. According to Liechtenstein bankruptcy law (bankruptcy code of 1973), assets which do not belong to the debtor are subject to the right of separation, i.e. they are transferred to the owner according to the normal principles of civil law.

3.2.2.   Own assets of the management company

Own assets of the management company

The notion of ‘own’ assets (Eigenmittel) is used to describe assets owned by the management company (i.e. the assets owned by the fund direction or by the investment company). These assets are used to cover daily expenses (rent, payment of salaries, infrastructure, etc.). They cover the capital stock, the legal and voluntary reserves and the accumulated profit/deficit.

Eigenmittel

In return for the management, the management company gets a management fee, which becomes part of its own assets. In addition, other fees (performance fees) might be levied (17). The Liechtenstein authorities have confirmed that all fees remaining with the management company fall under the notion of ‘own assets’. The same applies to all revenues stemming from the management activities.

17

3.2.3.   Separation of managed and own assets within investment undertakings

Separation of managed and own assets within investment undertakings

3.2.3.1.   Investment fund

Investment fund

According to section 4(1)(a) IUG investment funds are classified as collective trusts, which represent a trust relationship between an appointed trustee and an indefinite number of trustors. According to section 897 of the Persons- and Company Act (PGR), a trust is defined as a transfer of assets from the trustor to the trustee with the obligation that the latter holds, manages and disposes of the assets of, for the benefit of one or more beneficiaries with effect for all other persons. The trustee consequently takes care of the assets in his own name, but on behalf and on the account of the investors.

Upon establishment of this trust relationship, the transferred assets form a special fund, the so-called trust property, which is held separately from the trustee’s own assets., For investment funds the trusted assets are physically placed in a depot bank (18). In bankruptcy proceedings, these assets do not form part of the own assets of the management company, i.e. creditors cannot satisfy their claims against the management from the investors placements (19). There is a right of separation under Liechtenstein insolvency law for the trustor, who can claim back his entire investment in the insolvency proceedings. According to section 915 of the PGR, trust property is to be considered as distinct/foreign property (‘Fremdvermögen’) and the creditors of the trustee do not have access to it.

18

19

Fremdvermögen

3.2.3.2.   Investment company

Investment company

In the setting of an investment company, managed and own assets share one entity (i.e. the investment company). Nevertheless, as for investment funds, there is a strict distinction between the investment company entrusted with the management of the assets and the assets themselves. The latter is not a commercially active entity. As for investment funds, the managed assets are physically held at the depot bank, which keeps them in custody. The managed assets are kept separate from the investment company’s own assets (20). As for investment funds, the managed assets can profit from a right of separation of the investor in bankruptcy proceedings (21). Thus, the managed assets do not belong to the insolvency capital in case of a bankruptcy of the investment company.

20

21

The Liechtenstein authorities have explained that the managed assets do not become part of the company’s own assets and that the investors do not become shareholders in the investment company. The placement of the investor consequently does not raise the capital of the investment company. The investor who transfers his assets to an investment company acquires a claim against the investment company in relation to the entire assets placed by him.

4.   Tax provisions applicable to investment undertakings in Liechtenstein

Tax provisions applicable to investment undertakings in Liechtenstein

4.1.   General description of the Liechtenstein company taxation

General description of the Liechtenstein company taxation

4.1.1.   Income and capital tax

Income and capital tax

Sections 73 to 81 in Part 4, heading A, The company taxes (‘Die Gesellschaftssteuern’) of the Tax Act comprise two taxes relating to companies (22):

Die Gesellschaftssteuern

22

| — | A business income tax (Ertragssteuer). According to section 77 of the Tax Act this tax is assessed on the entire annual net income. Taxable net income is the entire revenues minus company expenditures (including write-offs and other provisions). The income tax rate depends on the ratio of net income to taxable capital and lies between 7,5 % and 15 % (23). This tax rate may be increased by 1 percentage point to, at most, 5 percentage points depending on the relation between dividends and taxable capital. The maximum income tax is therefore 20 %. |
| --- | --- |

—

A business income tax (Ertragssteuer). According to section 77 of the Tax Act this tax is assessed on the entire annual net income. Taxable net income is the entire revenues minus company expenditures (including write-offs and other provisions). The income tax rate depends on the ratio of net income to taxable capital and lies between 7,5 % and 15 % (23). This tax rate may be increased by 1 percentage point to, at most, 5 percentage points depending on the relation between dividends and taxable capital. The maximum income tax is therefore 20 %.

income tax

Ertragssteuer

23

| — | A capital tax (Kapitalsteuer). According to section 76 of the Tax Act, the basis for this tax is the paid-up capital stock, joint stock, share capital, or initial capital as well as the reserves of the company constituting company equity. Taxes are assessed at the end of the company’s business year (generally on 31 December). The tax rate for the capital tax is 2 ‰. |
| --- | --- |

—

A capital tax (Kapitalsteuer). According to section 76 of the Tax Act, the basis for this tax is the paid-up capital stock, joint stock, share capital, or initial capital as well as the reserves of the company constituting company equity. Taxes are assessed at the end of the company’s business year (generally on 31 December). The tax rate for the capital tax is 2 ‰.

capital tax

Kapitalsteuer

According to section 73 of the Tax Act, legal persons operating commercial businesses in Liechtenstein pay income and capital tax. The same applies to foreign companies operating a branch in Liechtenstein in accordance with section 73(e) of the Tax Act.

4.1.2.   Coupon tax

Coupon tax

Part 5 of the Tax Act concerns the so-called coupon tax. According to section 88(a)(1) of the Tax Act, Liechtenstein levies a tax on coupons. The coupon tax is levied on the coupons of securities (or documents equal to securities) issued by ‘a national’. This notion covers any person who has the place of residence, domicile or statutory seat in Liechtenstein. It also covers undertakings that are registered in the public register of Liechtenstein.

coupon tax

The coupon tax applies to companies the capital of which is divided into shares, as for example companies limited by shares and companies with limited liability (24). It is levied at the rate of 4 % on any distribution of dividends or profit shares (including distributions in the form of shares).

24

The coupon tax is a withholding tax, which falls on the investor as the ultimate tax payer (Steuerträger), but is withheld on the level of the company (debtor of the tax) (25).

25

4.2.   The taxation of investment undertakings between 1996 and 2006

The taxation of investment undertakings between 1996 and 2006

In 1996 the rules regarding taxation of investment undertakings were revised (26).

26

4.2.1.   The taxation of the assets managed by investment undertakings

The taxation of the assets managed by investment undertakings

In 1996, with the introduction of Section 84(5), investment undertakings — in the meaning of collective capital — were formally put on the same footing as domiciliary companies (‘Sitzgesellschaften’) (27).

Sitzgesellschaften’

27

As domiciliary companies would not pay any income tax, the assets managed by investment undertakings would not pay income tax. According to section 84(1) of the Tax Act, only a reduced capital tax of 1 ‰ (instead of 2 ‰) was applicable (28). This rate was further reduced to 0,4 ‰ for the capital of investment undertakings exceeding 2 million CHF in accordance with Section 85(2) of the Tax Act (29).

income tax

capital tax

28

29

Moreover, in 1996, the coupon tax on the distribution of profits generated from the fund capital was abolished (30).

30

4.2.2.   The taxation of the own assets of investment funds

The taxation of the own assets of investment funds

4.2.2.1.   The taxation of the management side of investment funds

The taxation of the management side of investment funds

As any company operating business in Liechtenstein, the fund direction of investment funds (the management side of the fund) would be fully liable to pay income, capital as well as coupon tax for the own income and capital.

The fund direction had also been fully taxed prior to 1996 in accordance with Section 84(2) of the Tax Act 1961.

4.2.2.2.   The taxation of the management side of investment companies

The taxation of the management side of investment companies

In the case of investment companies, no distinction was made between the management company’s own assets and the managed assets. The investment companies own assets were therefore subject to the rules applying to domiciliary companies, as such, in accordance with Section 84(2) of the Tax Act. That meant that no income tax was levied for the management activities or for the managed assets. The capital tax was fixed at 1 ‰ instead of 2 ‰ and reduced further for any capital exceeding CHF 2 million in accordance with Section 85(2) of the Tax Act. No coupon tax was levied.

The tax situation from 1996 to 2006 for investment funds and investment companies can be illustrated as follows:

Image

4.3.   The situation from 2006 until today

The situation from 2006 until today

By the Act on Investment Undertakings of 19 May 2005, a new section 35(3) was introduced in the Act on investment undertakings. This provision requires also the investment companies to record and hold separately own and managed assets.

Further, the Tax Act was also revised. The result of the revision was that section 84(5) Tax Act was abolished. In accordance with a new section 86(2), the managed assets for both types of investment undertakings, i.e. the investment fund and the investment company, were explicitly exempted from payment of a capital tax (31).

31

Section 85(2) of the Tax Act, which provided for a reduced capital tax for any amount in excess of CHF 2 million, was repealed. Instead, a new section 73(f) was inserted, which requires the fund direction of an investment fund and investment companies to pay income and capital tax in relation to its own assets.

The tax situation for investment funds and investment companies from 2006 onwards can be illustrated as follows:

Image

5.   Comments by the Liechtenstein authorities

Comments by the Liechtenstein authorities

5.1.   No selective advantage

No selective advantage

The Liechtenstein authorities firstly argued that the tax rules applicable to investment undertakings from 1996 to 2006 did not confer any advantage to a specific form of investment undertaking. Rather, there was a uniform tax regime for both investment funds and investment companies as defined by Section 2(1)(a) IUG 1996. They were taxed according to the general level of domiciliary companies. If anything, the taxation imposed on the fund direction of the investment fund which was subject to income tax, full capital tax and coupon tax, was a disadvantage for the fund rather than a selective advantage for the investment company.

The Liechtenstein authorities have stated that, despite the difference in taxation for investment companies compared to the fund direction with regard to own assets, the first investment company was only founded in 2001. In 2006, only 16 investment companies existed in Liechtenstein. By contrast, 192 investment funds were active in Liechtenstein by 2006. According to the Liechtenstein authorities, this shows that there was no incentive for enterprises to organise themselves in the form of an investment company. Hence, there was no advantage for investment companies.

In addition, an advantage within the meaning of the EEA State aid provisions is only selective if it favours the economic activity of certain undertakings or productions of certain goods compared to others. In the present case, the economic activities of the investment funds and the investment companies are identical. The difference in taxation results exclusively from the legal form in which these economic activities are carried out.

Finally, the Liechtenstein authorities argue that all economic agents active in the business of managing funds are free to choose both forms of investment undertakings. Once the form has been chosen, the investment undertaking has to abide by Liechtenstein’s corporate and tax laws. As the difference in treatment applies to all economic activities alike, there is no State aid issue.

By letter dated 6 October 2008, the Liechtenstein authorities submitted an expert study on the taxation of investment undertakings. The expert study comes to the conclusion that if investment companies had been established already prior to 1996, they would have been subject to ordinary business taxation until 1996. The study concludes that during the time from 1996 to 2006, in order to be ‘consistent with the Liechtenstein tax system the unit within the Anlagegesellschaft that operates the business and therefore, the own assets of the Anlagegesellschaft, should have been subject to the regular capital and profit tax’. (32)

consistent with the Liechtenstein tax system the unit within the Anlagegesellschaft that operates the business and therefore, the own assets of the Anlagegesellschaft, should have been subject to the regular capital and profit tax

32

The study moreover concludes that while in 1996 section 88(f) of the Tax Act dealing with coupon taxes for investment funds was repealed, section 88(d) dealing with such taxation in respect of capital divided into shares was not removed. Therefore, as for and regarding shares representing own assets, section 88(d) of the Tax Act would still have been applicable.

The Liechtenstein authorities have made the expert opinion part of their submission and reasoning in this case.

5.2.   Comments on the 2006 tax reform

Comments on the 2006 tax reform

The Liechtenstein authorities have explained that there were various reasons for the revision. Firstly, it was found that the Liechtenstein Tax Act, by international comparison, was less advantageous as the managed assets of investment undertakings were hitherto subject to capital taxation. This led to double taxation, as both the investment undertaking and the investor were taxed (33). Other countries, such as Switzerland, Germany and Austria, did not tax the managed assets of investment funds. In order to improve the conditions for attracting fund investments to Liechtenstein, a revision was considered necessary.

33

Further, to avoid any unintentional double taxation of invested funds, uniform accounting standards were adopted which allowed for a more balanced taxation of both forms of investment undertakings without changing the structural difference required by Liechtenstein’s corporate law (34).

34

Moreover, the tax distinction between the management side of investment funds and investment companies could lead to an increase in demand for products run by investment companies. To avoid a tax-motivated shift to investment companies, investment funds and investment companies were put on the same footing. The 2005/2006 reform should result in a uniform taxation of both forms of investment undertakings despite their structural differences.

II.   ASSESSMENT

ASSESSMENT

1.   The presence of State aid

The presence of State aid

The Authority will investigate below whether the fact that investment companies did not pay any income and coupon tax and only a reduced capital tax on their own assets until the 2006 reform constitutes State aid within the meaning of Article 61(1) of the EEA Agreement. Article 61(1) of the EEA Agreement reads as follows:

‘Save as otherwise provided in this Agreement, any aid granted by EC Member States, EFTA States or through state resources in any form whatsoever which distorts or threatens to distort competition by favouring certain undertakings or the production of certain goods shall, in so far as it affects trade between Contracting Parties, be incompatible with the functioning of this Agreement.’

1.1.   Undertaking

Undertaking

According to the European Court of Justice, the notion of an undertaking in the sense of Article 87 EC, which corresponds to Article 61(1) of the EEA Agreement, encompasses ‘every entity engaged in an economic activity, regardless of the legal status of the entity and the way in which it is financed’ (35).

every entity engaged in an economic activity, regardless of the legal status of the entity and the way in which it is financed

35

As can be seen from the structure of investment undertakings, the pooled assets of the investors are managed either by a separate management company acting as a trustee in case of an investment fund (fund direction) or by the investment company itself.

In BBL (36), the Court of Justice of the European Communities dealt with the activity of investment companies (SICAVs under Belgian law) which consist of the collective investment in transferable securities of capital raised from the public and which aim to produce income on a continuing basis. With the capital provided by subscribers when they purchase shares, SICAVs assemble and manage, on behalf of the subscribers and for a fee, portfolios consisting of transferable securities. The Court held that this constitutes an economic activity within the meaning of Article 4(2) of the Sixth VAT Directive.

36

The Authority finds, in line with the Commission’s case practice in this area (37), that this jurisprudence can also be applied when assessing the existence of an economic activity under the State aid provisions of the EEA Agreement. Investment companies and the fund direction for an investment fund under Liechtenstein law take corporate form as they are organised as companies limited by shares or Societas Europea. They are active in assembling and managing the assets of various investors with the intention of making profits via various fees related to the placements. The Authority consequently finds that investment companies, for the part of the company carrying out the asset management, are undertakings within the meaning of Article 61(1) of the EEA Agreement (38).

37

38

1.2.   Advantage

Advantage

By not being obliged to pay any income or coupon tax and only a reduced capital tax on their own assets, investment companies receive an advantage in relation to other undertakings, in particular towards the fund direction of investment funds who were subject to ordinary taxation on revenues from their business activities.

The advantage is selective as it was granted only to investment undertakings organised in the form of investment companies. The Authority does not subscribe to the relevance of the argument forwarded by the Liechtenstein authorities that each undertaking in Liechtenstein carrying out such an economic activity is in principle free to choose the appropriate legal form and consequently profit from the tax concessions. A state measure which is limited to a specified group of undertakings cannot be attributed a general character just because it could be used by any interested undertaking if this undertaking was organising itself in a certain manner to fulfil the specified criteria and benefit from tax concessions (39).

39

A specific tax measure can nevertheless be justified by the logic of the tax system. The specific tax rules applicable to investment companies will not be selective in the sense of Article 61(1) of the EEA Agreement if the rule is justified by the nature and general scheme of the Liechtenstein tax system (40).

40

In the Authority’s preliminary view, the tax relief on the management company’s own assets cannot be justified by the nature and overall scheme of the Liechtenstein taxation system.

The general scheme for taxing companies engaged in commercial business activities is laid down in sections 76 and 77 of the Liechtenstein Tax Act. Moreover, Section 73 of the Liechtenstein Tax Act (41) stipulates that legal entities that operate a business in Liechtenstein should pay income taxes on their entire revenues and a capital tax on the capital held as the company’s own equity.

41

In the case of a company divided into shares, a coupon tax on the dividends is due in accordance with section 88(d) of the Tax Act. Investment companies are legal entities incorporated under Liechtenstein law in the form of companies limited by shares which gain revenues from the management of placements by investors and dispose of capital. They should therefore be subject to payment of coupon tax whenever their capital is divided into shares (42).

42

The tax relief for the management’s own assets falls neither within the logic of the general tax system in Liechtenstein, nor within the logic of the taxation of investment undertakings as such. The Liechtenstein taxation rules and taxation practice shows that the logic behind the special taxation of investment undertakings applies to the fund capital, but not to the management companies own assets. Indeed, the fund direction of the investment funds has always been subject to ordinary business taxation for its own revenues and own capital.

In the view of the Authority, there is nothing in the organisational form of investment companies which would justify a special tax derogation in favour of the management activities of an investment company compared to the management activities of an investment fund. Both types of investment undertakings must keep the company’s own assets separated from the managed assets of the investors, put at the custody of the depot bank. In bankruptcy proceedings, the own assets are at the disposal of the creditors for both investment funds and investment companies.

In 2006, the legislation was changed and investment companies were subject thereafter to ordinary business taxation as the fund direction of investment funds and any other legal entity operating a business in Liechtenstein. In view of the Liechtenstein authorities this eliminated the ‘inconsistency’ (43) of not levying any taxes on the own assets before.

inconsistency

43

For these reasons, the Authority takes the preliminary view that investment companies were granted a selective advantage.

1.3.   Presence of state resources

Presence of state resources

The advantage must be granted by the State or through state resources. A loss of tax revenue is equivalent to consumption of state resources in the form of fiscal expenditure (44). The Liechtenstein State foregoes revenues in the form of tax income from the investment companies. Therefore, the Authority considers that there were state resources involved.

44

1.4.   Distortion of competition and effect on trade between Contracting Parties

Distortion of competition and effect on trade between Contracting Parties

When a support measure granted by the State strengthens the position of an undertaking vis-à-vis other undertakings competing in EEA trade, the latter must be regarded as affected by that aid.

According to well established case law (45), the prohibition of Article 61(1) of the EEA Agreement is applicable to any aid which distorts or threatens to distort competition, irrespective of the amount, in so far as it affects trade between Member States. The Commission has also considered that investment vehicles can operate in international markets and pursue commercial and other economic activities in markets where competition is intense (46).

45

46

Therefore, the Authority takes the preliminary view that the tax concessions for the own assets of investment companies from 1996 to 2006 strengthened the competitive position of the investment companies within the EEA, as these tax concessions reduced the ordinary operational costs of these companies compared to other EEA companies which can operate in international markets (47).

47

Investment companies compete with other financial undertakings and operate in an open market characterised by substantial intra-EEA trade. Thus, trade between the Contracting Parties is affected. In line with the case law (48), the Authority does not have to demonstrate that all investment companies operate in international markets. It is sufficient in the assessment of aid schemes to assess its general characteristics without examining each individual application.

48

The Authority is therefore of the preliminary view that the tax concessions distort or threaten to distort competition and affect trade between the Contracting Parties.

1.5.   Conclusion

Conclusion

For the above-mentioned reasons, the Authority takes the preliminary view that the tax relief on the management companies own assets constitutes state aid with the meaning of Article 61(1) of the EEA Agreement.

2.   Classification of the measures under assessment as new aid

Classification of the measures under assessment as new aid

According to Article 1(c) in Part II of Protocol 3, new aid means aid that is not existing aid. Pursuant to Article 1(b) of the Protocol 3, ‘existing aid’ shall mean (inter alia):

inter alia

‘(i)..., all aid which existed prior to the entry into force of the Treaty in the respective Member States, that is to say, aid schemes and individual aid which were put into effect before, and are still applicable after, the entry into force of the Treaty;...’.

Section 84(5) of the Tax Act, which provides for the tax relief of the own assets of investment companies, was introduced in 1996. Previously, no investment company existed, as the first company was only founded in 2001.

The expert opinion forwarded by Liechtenstein comes to the conclusion that the own assets of investment companies would have been subject to ordinary business taxation if such companies had existed before 1996. The Authority concurs with this view.

For these reasons, the Authority finds that the non-taxation of the investment company’s own assets constitutes new aid.

3.   Procedural requirements

Procedural requirements

Pursuant to Article 1(3) of Part I of Protocol 3, ‘the EFTA Surveillance Authority shall be informed, in sufficient time to enable it to submit its comments, of any plans to grant or alter aid. [...]. The State concerned shall not put its proposed measures into effect until the procedure has resulted in a final decision’.

The Liechtenstein authorities did not notify the tax relief for the own assets of investment companies to the Authority before they were put into effect. The Authority concludes that the Liechtenstein authorities have not respected their obligations pursuant to Article 1(3) of Part I of Protocol 3.

4.   Compatibility of the aid

Compatibility of the aid

As the measure constitutes state aid within the meaning of Article 61(1) of the EEA Agreement, its compatibility with the functioning of the EEA Agreement must be assessed in the light of the derogations provided for in Article 61(2) and (3) of the EEA Agreement.

The aid in question is not linked to any investment in production capital. It reduces the costs which companies would normally have to bear in the course of pursuing their day-to-day business activities and is consequently to be classified as operating aid. Operating aid is normally not considered suitable to facilitate the development of certain economic activities or of certain regions as provided for in Article 61(3)(c) of the EEA Agreement. Operating aid is only allowed under special circumstances (e.g. for certain types of environmental or regional aid), when the Authority’s Guidelines provide for such an exemption. None of these Guidelines apply to the aid in question.

The Authority therefore doubts that the tax derogations under assessment are compatible with the EEA Agreement.

5.   Conclusion

Conclusion

Based on the information submitted by the Liechtenstein authorities, the Authority finds that the tax concessions granted for the own assets of the investment companies between 1996 and 2006 constitute aid within the meaning of Article 61(1) of the EEA Agreement.

The Authority finds that the tax relief on the own assets of the investment company constitutes new aid.

The Authority has doubts that these measures are compatible with 61(3)(c) of the EEA Agreement. The Authority thus doubts that the above-mentioned measures are compatible with the functioning of the EEA Agreement.

Consequently, and in accordance Article 4(4) of Part II of Protocol 3, the Authority is obliged to open the procedure provided for in Article 1(2) of Part I of Protocol 3 of the Surveillance and Court Agreement. The decision to open proceedings is without prejudice to the final decision of the Authority, which may conclude that the measures in question do not constitute state aid or that they are compatible with the functioning of the EEA Agreement. The Authority would like to point out, however, that if new aid was not found to be compatible with the functioning of the EEA Agreement, it would constitute unlawful aid within the meaning of Article 1(f) in Part II of Protocol 3. Unlawful aid and incompatible aid is normally recovered from the aid beneficiaries according to Article 14 in Part II of Protocol 3. According to the case law of the Court of Justice, a diligent trader should himself be able to verify that new aid has been put into effect in accordance with the applicable procedural rules, notably Article 88 EC, corresponding to Article 1 in Part I of Protocol 3 to the Surveillance and Court Agreement. For that reason, the beneficiary of new aid, granted in contravention of that provision, can only in exceptional circumstances claim that he had legitimate expectations barring the repayment of the aid.

In light of the foregoing considerations, the Authority, acting under the procedure laid down in Article 1(2) of Part I of Protocol 3, requests the Liechtenstein authorities to submit their comments within one month of the date of receipt of this Decision.

Moreover, the Authority requires that, within one month of receipt of this decision, the Liechtenstein authorities provide all documents, information and data needed for assessment of the compatibility of the tax derogations in favour of investment companies. It invites the Liechtenstein authorities to forward a copy of this decision to the potential aid recipients of the aid immediately,

HAS ADOPTED THIS DECISION:

Article 1

The EFTA Surveillance Authority has decided to open the formal investigation procedure provided for in Article 1(2) of Part I of Protocol 3 against Liechtenstein regarding the non-levy of income tax and coupon tax on the management side of investment companies (own assets) from 1996 to 2006. Likewise it opens the formal investigation on the levy of a reduced capital tax on the own assets of investment companies from 1996 to 2006. This includes the further reduction of the capital tax for investment companies whose capital exceeds 2 million CHF.

Article 2

The Liechtenstein authorities are invited, pursuant to Article 6(1) of Part II of Protocol 3, to submit their comments on the opening of the formal investigation procedure within one month from the notification of this Decision.

Article 3

The Liechtenstein authorities are requested to provide within one month from notification of this decision, all documents, information and data needed for assessment of the compatibility of the aid measure.

Article 4

This Decision is addressed to the Principality of Liechtenstein.

Article 5

Only the English version is authentic.

Done at Brussels, 18 March 2009.

For the EFTA Surveillance Authority

Per SANDERUD

President

Kurt JAEGER

College Member

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(1)  Joined Cases C-180/98 to C-184/98 Pavlov [2000] ECR I-6451, paragraph 75.

1

Pavlov

(2)  Case T-445/05 Associazione Italiana del risparmio gestito, e.a. v Commission, not yet published, paragraph 127 ff.

2

Associazione Italiana del risparmio gestito, e.a

Commission

(3)  See point 3(3) of the Authority’s Guidelines on measures relating to direct business taxation.

3

(4)  See Case T-424/05, cited above, paragraph 156.

4

(5)  Hereinafter referred to as the Authority.

5

(6)  Hereinafter referred to as ‘the EEA Agreement’.

6

(7)  Hereinafter referred to as ‘the Surveillance and Court Agreement’.

7

(8)  Hereinafter referred to as ‘Protocol 3’.

8

(9)  Guidelines on the application and interpretation of Articles 61 and 62 of the EEA Agreement and Article 1 of Protocol 3 to the Surveillance and Court Agreement, adopted and issued by the EFTA Surveillance Authority on 19 January 1994, published in the Official Journal of the European Union (hereinafter referred to as OJ) L 231, 3.9.1994, p. 1 and the EEA Supplement No 32, 3.9.1994, p. 1. Hereinafter referred to as the State Aid Guidelines, which can be found on http://www.eftasurv.int/fieldsofwork/fieldstateaid/state_aid_guidelines/

9

Official Journal of the European Union

(10)  Decision No 195/04/COL of 14 July 2004 (published in OJ L 139, 25.5.2006, p. 37 and the EEA Supplement No 26, 25.5.2006, p. 1), as amended. A consolidated version of the decision can be found on www.eftasurv.int

10

(11)  The Liechtenstein authorities clarified that the expert opinion constitutes part of the submission of the Liechtenstein government and is part of their reasoning in this case.

11

(12)  Liechtensteinisches Landesgesetzblatt 1961, Nr. 7, with subsequent amendments.

12

(13)  Cf. Section 2(1)(a) IUG.

13

(14)  See section 4(1) lit a IUG.

14

(15)  See section 64 IUG. The fund direction has the legal form of either a company limited by shares, a private establishment or a Societas Europea, see section 65 IUG.

15

(16)  Section 31 IUG.

16

(17)  The Liechtenstein authorities have stated that it is impossible to list these fees exhaustively as a fund direction (or the management side of the investment company) is free to levy fees as its own discretion.

17

(18)  Cf. section 31 IUG.

18

(19)  Section 24 in conjunction with section 41 of the Liechtenstein Bankruptcy Act.

19

(20)  Section 35(3) IUG.

20

(21)  Section 37 IUG.

21

(22)  Private persons are subject to income tax (Erwerbssteuer) and property tax (Vermögenssteuer), which are not relevant for this investigation.

22

(23)  The net profit is set in relation to the taxable capital. The tax rate is then set at half the percentage which the net profit constitutes of the taxable capital. However, there is a minimum level of 7,5 % and a maximum ceiling of 15 %, see section 79(2) of the Tax Act.

23

(24)  Section 88(d) of the Tax Act.

24

(25)  Section 88(i) of the Tax Act reads: ‘(s)teuerpflichtig ist der Schuldner des Coupons oder der steuerbaren Leistung’.

25

(s)teuerpflichtig ist der Schuldner des Coupons oder der steuerbaren Leistung

(26)  LGBL 1996, Nr. 88.

26

(27)  Cf. the former section 84(5) of the Tax Act. Domiciliary companies are still tax regulated in section 84 of the Tax Act. They are legal entities registered in the public register, which only have their seat or an office in Liechtenstein, but do not exercise any commercial or business activity in Liechtenstein.

27

(28)  The tax derogation in favour of domiciliary companies pre-dates the entry of Liechtenstein to the EEA Agreement and is therefore not part of this decision, which only deals with tax derogations introduced after 1 May 1995, the date of Liechtenstein’s entry to the EEA.

28

(29)  Cf. section 85(2) of the Tax Act in the form of the 1996 amendment, LGBL 1996 Nr. 88.

29

(30)  Sections 88(f), 88(g), 88(h)(3), 88(i)(2) of the 1961 Tax Act which dealt with the coupon taxation of investment funds were repealed, see Government Bill No 69/1995, p. 10, in which it was stated that the repeal of the coupon tax on ‘their’ distributions was a pre-condition for the foundation of investment undertakings. Regarding the entry into force, see Gesetz vom 3. Mai 1996 über die Abänderung des Steuergesetzes, LGBl. Nr. 88 of 10 July 1996.

30

(31)  See information submitted by the Liechtenstein authorities by letter dated 1 February 2008, paragraphs 48-52.

31

(32)  Expert opinion DII,b.ii.3. The word profit tax used by the expert refers to what is described in this decision as the income tax.

32

(33)  The Liechtenstein authorities explained that the investor would be tax liable for the investment in Liechtenstein or in other countries.

33

(34)  The Liechtenstein authorities explained the 2005/2006 tax reform in their letter of 3 December 2007.

34

(35)  Joined Cases C-180/98 to C-184/98 Pavlov [2000] ECR I-6451, paragraph 75.

35

Pavlov

(36)  Case C-8/03, Banque Bruxelles Lambert SA (BBL) v Belgian State [2004] ECR. I-10157, paragraphs 42 and 43. The judgment was given in the area of taxation, however the Authority considers that the problem in question is the same under the State aid rules. See also Commission Decision of 6 September 2005 on the Italian scheme for collective investments in transferable securities, OJ L 268, 27.9.2006, p. 1 (hereafter Italian collective investment scheme).

36

Banque Bruxelles Lambert SA (BBL)

Belgian State

(37)  See Italian collective investment scheme, paragraph 38.

37

(38)  Case T-445/05 Associazione Italiana del risparmio gestito, e.a. v Commission, not yet published, paragraph 127 ff.

38

Associazione Italiana del risparmio gestito, e.a

Commission

(39)  The Court of First Instance has e.g. recognised that a fiscal measure does not loose its character as a being selective just because it is based on objective criteria, see judgment of the CFI of 6 March 2002, T-127/99, T-129/99 and T-148/99, Diputación Foral de Álava e.a. v Commission, [2002] ECR II-1275.

39

Diputación Foral de Álava e.a

Commission

(40)  Joined Cases E-5/04 — E-7/04 Fesil and other v the Authority, cited above, paragraphs 82 et seq.

40

Fesil and other

the Authority

et seq

(41)  According to section 73 a, companies limited by shares are obliged to pay capital and income tax.

41

(42)  See Section 4.1.2 above in this decision.

42

(43)  Expert opinion DII, b.ii.3.

43

(44)  See point 3(3) of the Authority’s Guidelines on measures relating to direct business taxation.

44

(45)  Case T-214/95 Vlaamse Gewest v Commission, ECR [1998] II-717, paragraph 46. Case T-424/05, Italy v Commission, judgement of 4 March 2009, not yet published, paragraph 154 ff.

45

Vlaamse Gewest

Commission

Italy

Commission

(46)  See Italian collective investment scheme, paragraph 45. Recently upheld by the Court of First Instance in Case T-445/05 Associazione italiana del risparmio gestito v Commission cited above, and T-424/05 Italy v Commission not yet published.

46

Associazione italiana del risparmio gestito

Commission cited above

Italy

Commission

(47)  See footnote 4.

47

(48)  See Case T-424/05, cited above, paragraph 160.

48

---

V Announcements

PROCEDURES RELATING TO THE IMPLEMENTATION OF THE COMMON COMMERCIAL POLICY

Commission

| 1.10.2009 | EN | Official Journal of the European Union | C 236/20 |
| --- | --- | --- | --- |

1.10.2009

EN

Official Journal of the European Union

C 236/20

---

Planned closure of complaint 2009/4209

2009/C 236/07

The Commission services have completed their investigation of complaint 2009/4209 regarding the remuneration of doctors who were undergoing specialised training in Italy between 1982 and 1991.

Following examination of the complaint and of the documentation submitted by the complainants from the point of view of the applicable Community law, the Commission services have concluded that it is not possible, at this stage, to identify an infringement of Council Directive 93/16/EEC (1) in the case in question.

Directive 93/16/EEC on facilitating mutual recognition of doctors′ diplomas and coordination of their training states that trainee specialist doctors must receive appropriate remuneration during the training period. This obligation arises specifically from Council Directive 82/76/EEC (2) which amended Directive 75/363/EEC; both directives were consolidated by Directive 93/16/EEC, which was in turn repealed by Directive 2005/36/EC of the European Parliament and of the Council (3).

The deadline for transposing Directive 82/76/EEC was 1 January 1983. In its judgment of 7 July 1987, the Court of Justice of the EC acknowledged that Italy had failed to comply with its obligations by not transposing Directive 82/76/EEC within the deadline laid down. By legislative decree No 257/1991 adopted in 1991 (entry into force: 1 September 1991), Italy had indeed transposed the Directive but had limited the right to remuneration to the academic years 1991/92 and after. In the judgments handed down in preliminary rulings C-131/97 Carbonari and C-371/97 Gozza, the Court considered that the damage suffered by specialist doctors (registered between academic years 1983/84 and 1990/91) could be compensated by retrospectively applying national rules on remuneration, with the national court refraining from applying national rules that ran counter to the Directive (the rules limiting the right to remuneration to 1991/92 and after).

Since several specialist doctors had registered before the academic year 1991/92, proceedings were brought before civil and administrative courts in Italy to obtain damages. In the judgments of 25 February 1994 by the regional court of Lazio, Section 1a, the court admitted the appeals: legislative decree No 257 of 8 August must not be applied by the national courts since this decree reserves application of Community law to those doctors accepted for specialist training in the 1991/92 academic year, leaving the previous training programme for specialist doctors in place.

Notwithstanding this judgment, Italy refused to provide appropriate payment to trainee specialist doctors before the 1990/91 academic year, opting instead to adopt a law, Law No 370 of 19 October 1999, Article 11 of which states that a grant of LIT 13 000 000 should be paid to each doctor who followed specialist training during the period 1983-1991 provided that they were personally covered by the judgment. A ministerial decree had specified the procedures for applying for these grants. Some doctors had appealed this ministerial decree, which led to a ruling recognising that doctors who had followed specialist training and had been registered before the 1991/92 academic year were entitled to damages.

According to the complainants, doctors who have followed specialised training since the deadline for transposition of the Directive in question (31 December 1982) and who were registered in the training programme prior to the 1991/92 academic year are currently being deprived of their entitlement to damages because of the late and incomplete transposition of the Directive by Italy. The Commission services understand why the current complainants are criticising Italy for not having amended the relevant Italian regulations.

Having received other similar complaints from Italian doctors concerning this matter, the Commission services examined Italian case law and found that the principles laid down by the Court of Justice of the EC in its rulings in cases C-131/97 Carbonari and C-371/97 Gozza had been fully respected by the national court. The national court had accepted the principle of the retrospective application of entitlement to remuneration by not applying the national rules that were contrary to Directive 82/76/EEC (Article 8 of legislative decree No 257/1991 which limits entitlement to remuneration to the 1991/92 academic years and after) and had recognised entitlement to remuneration and, therefore, to reparation for the damage suffered. Notwithstanding this, in some cases the national court had refused reparation for the damage suffered because of the time limit for bringing a case based on the national law applicable. This decision does not appear to infringe Community law as interpreted by the Court of Justice of the EC, in particular in the judgment of 5 March 1996 in cases C-46/93 Brasserie du pêcheur and C-48/93 and Factortame, which states that in the absence of relevant Community provisions on the reparation of damage suffered by private individuals, it is for the domestic legal system of each Member State to set the criteria for determining the extent of reparation. However, those criteria must not be less favourable than those applying to similar claims based on domestic law (point 83 of the above-mentioned judgment of 5 March 1996). The application of domestic law in this case complies with this principle.

Consequently, the Commission services will propose to the Commission that the corresponding complaint case be closed.

This does not preclude the case being reopened and proceedings being re-initiated should the Commission come into possession — even after closure — of new facts that could justify opening such a new procedure regarding the same subject.

---

(1)  OJ L 165, 7.7.1993, p. 1.

(2)  OJ L 43, 15.2.1982, p. 21.

(3)  OJ L 255, 30.9.2005, p. 22.

---

PROCEDURES RELATING TO THE IMPLEMENTATION OF THE COMPETITION POLICY

Commission

| 1.10.2009 | EN | Official Journal of the European Union | C 236/22 |
| --- | --- | --- | --- |

1.10.2009

EN

Official Journal of the European Union

C 236/22

---

Prior notification of a concentration

(Case COMP/M.5632 — Pepsico/Pepsi Americas)

(Text with EEA relevance)

2009/C 236/08

| 1. | On 21 September 2009, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Pepsico (USA) acquires within the meaning of Article 3(1)(b) of the Regulation control of the whole of Pepsi Americas (USA) by way of purchase of shares. |
| --- | --- |

1.

On 21 September 2009, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Pepsico (USA) acquires within the meaning of Article 3(1)(b) of the Regulation control of the whole of Pepsi Americas (USA) by way of purchase of shares.

| 2. | The business activities of the undertakings concerned are:






  — | for Pepsico: food and beverage in over 200 countries, |
| --- | --- | --- |

2.

The business activities of the undertakings concerned are:

—

for Pepsico: food and beverage in over 200 countries,

| — | for Pepsi Americas: bottling mostly Pepsico beverages with operations in USA, Central and Eastern Europe, the Caribbean and Central America. |
| --- | --- |

—

for Pepsi Americas: bottling mostly Pepsico beverages with operations in USA, Central and Eastern Europe, the Caribbean and Central America.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. |
| --- | --- |

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved.

| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301 or 22967244) or by post, under reference number COMP/M.5632 — Pepsico/Pepsi Americas, to the following address:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301 or 22967244) or by post, under reference number COMP/M.5632 — Pepsico/Pepsi Americas, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  OJ L 24, 29.1.2004, p. 1.

---

| 1.10.2009 | EN | Official Journal of the European Union | C 236/23 |
| --- | --- | --- | --- |

1.10.2009

EN

Official Journal of the European Union

C 236/23

---

Prior notification of a concentration

(Case COMP/M.5633 — Pepsico/The Pepsico Bottling Group)

(Text with EEA relevance)

2009/C 236/09

| 1. | On 21 September 2009, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Pepsico (USA) acquires within the meaning of Article 3(1)(b) of the Regulation control of the whole of The Pepsico Bottling Group (USA) by way of purchase of shares. |
| --- | --- |

1.

On 21 September 2009, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking Pepsico (USA) acquires within the meaning of Article 3(1)(b) of the Regulation control of the whole of The Pepsico Bottling Group (USA) by way of purchase of shares.

| 2. | The business activities of the undertakings concerned are:






  — | for Pepsico: food and beverage in over 200 countries, |
| --- | --- | --- |

2.

The business activities of the undertakings concerned are:

—

for Pepsico: food and beverage in over 200 countries,

| — | for The Pepsico Bottling Group: bottling mostly Pepsico beverages with operations in USA, Mexico, Canada, Spain, Russia, Greece and Turkey. |
| --- | --- |

—

for The Pepsico Bottling Group: bottling mostly Pepsico beverages with operations in USA, Mexico, Canada, Spain, Russia, Greece and Turkey.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. |
| --- | --- |

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved.

| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301 or 22967244) or by post, under reference number COMP/M.5633 — Pepsico/The Pepsico Bottling Group, to the following address:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301 or 22967244) or by post, under reference number COMP/M.5633 — Pepsico/The Pepsico Bottling Group, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  OJ L 24, 29.1.2004, p. 1.

---

| 1.10.2009 | EN | Official Journal of the European Union | C 236/24 |
| --- | --- | --- | --- |

1.10.2009

EN

Official Journal of the European Union

C 236/24

---

Prior notification of a concentration

(Case COMP/M.5565 — BAE Systems/BVT)

Candidate case for simplified procedure

(Text with EEA relevance)

2009/C 236/10

| 1. | On 24 September 2009, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking BAE Systems plc (‘BAE Systems’, United Kingdom) acquires within the meaning of Article 3(1)(b) of the Regulation control of the whole of the undertaking BVT Surface Fleet Limited (‘BVT’, United Kingdom), a company currently jointly-controlled by BAE Systems and VT Group plc, by way of purchase of shares. |
| --- | --- |

1.

On 24 September 2009, the Commission received a notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which the undertaking BAE Systems plc (‘BAE Systems’, United Kingdom) acquires within the meaning of Article 3(1)(b) of the Regulation control of the whole of the undertaking BVT Surface Fleet Limited (‘BVT’, United Kingdom), a company currently jointly-controlled by BAE Systems and VT Group plc, by way of purchase of shares.

| 2. | The business activities of the undertakings concerned are:






  — | for BAE Systems: provision of systems and services for air, land and naval forces as well as advanced electronics, information technology solutions and customer support services, |
| --- | --- | --- |

2.

The business activities of the undertakings concerned are:

—

for BAE Systems: provision of systems and services for air, land and naval forces as well as advanced electronics, information technology solutions and customer support services,

| — | for BVT: provision of surface warships and through-life support, principally as a partner for the United Kingdom Ministry of Defence. |
| --- | --- |

—

for BVT: provision of surface warships and through-life support, principally as a partner for the United Kingdom Ministry of Defence.

| 3. | On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice. |
| --- | --- |

3.

On preliminary examination, the Commission finds that the notified transaction could fall within the scope of Regulation (EC) No 139/2004. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in the Notice.

| 4. | The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
  Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301 or 22967244) or by post, under reference number COMP/M.5565 — BAE Systems/BVT, to the following address:





  European Commission |
| --- | --- |
| Directorate-General for Competition |
| Merger Registry |
| 1049 Bruxelles/Brussel |
| BELGIQUE/BELGIË |

4.

The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.

Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301 or 22967244) or by post, under reference number COMP/M.5565 — BAE Systems/BVT, to the following address:

European Commission

Directorate-General for Competition

Merger Registry

1049 Bruxelles/Brussel

BELGIQUE/BELGIË

---

(1)  OJ L 24, 29.1.2004, p. 1.

(2)  OJ C 56, 5.3.2005, p. 32.

---

OTHER ACTS

Commission

| 1.10.2009 | EN | Official Journal of the European Union | C 236/25 |
| --- | --- | --- | --- |

1.10.2009

EN

Official Journal of the European Union

C 236/25

---

Publication of an application pursuant to Article 6(2) of Council Regulation (EC) No 510/2006 on protected geographical indications and designations of origin for agricultural products and foodstuffs

2009/C 236/11

This publication confers the right to object to the application pursuant to Article 7 of Council Regulation (EC) No 510/2006. Statements of objection must reach the Commission within six months of the date of this publication.

AMENDMENT APPLICATION

COUNCIL REGULATION (EC) No 510/2006

Amendment application in accordance with article 9

‘MONTES DE TOLEDO’

EC No: ES-PDO-0105-0083-19.09.2007

PGI ( ) PDO ( X )

1.   Heading in the product specification affected by the amendment:

| — |  | Name of product |
| --- | --- | --- |
| — | | Description of product |
| — | | Geographical area |
| — |  | Proof of origin |
| — |  | Method of production |
| — |  | Link |
| — |  | Labelling |
| — |  | National requirements |
| — |  | Other |

—



Name of product

—

Image

Description of product

—

Image

Geographical area

—



Proof of origin

—



Method of production

—



Link

—



Labelling

—



National requirements

—



Other

2.   Type of amendment:

| — | | Amendment to Single Document or Summary Sheet |
| --- | --- | --- |
| — |  | Amendment to specification of registered PDO or PGI for which neither the Single Document nor Summary has been published |
| — |  | Amendment to Specification that requires no amendment to the published Single Document (Article 9(3) of Regulation (EC) No 510/2006) |
| — |  | Temporary amendment to Specification resulting from imposition of obligatory sanitary or phytosanitary measures by public authorities (Article 9(4) of Regulation (EC) No 510/2006) |

—

Image

Amendment to Single Document or Summary Sheet

—



Amendment to specification of registered PDO or PGI for which neither the Single Document nor Summary has been published

—



Amendment to Specification that requires no amendment to the published Single Document (Article 9(3) of Regulation (EC) No 510/2006)

—



Temporary amendment to Specification resulting from imposition of obligatory sanitary or phytosanitary measures by public authorities (Article 9(4) of Regulation (EC) No 510/2006)

3.   Amendments:

3.1.   Description:

Amendment of the peroxide value from 12 m O2/kg to 15 m O2/kg.

The reason for the amendment concerning the peroxide value is the fact that in determining the upper limit, account was not taken of the effect that weather conditions have on this each season. Despite the fact that the Cornicabra variety generally has a peroxide value of less than 12 m O2/kg, that value increases naturally if the olive has been subject to low temperatures while it was still on the tree.

Removal of the reference ‘minimum organoleptic assessment: 6,5’, since ‘organoleptic assessment: extra virgin’ is already stated

So far as concerns the minimum organoleptic assessment, it is merely a matter of adapting the earlier requirement to the provisions in Commission Regulation (EC) No 796/2002 of 6 May 2002 (Annex II).

3.2.   Geographical area:

Addition of 25 neighbouring municipalities to the current area.

The application to include these 25 municipalities bordering the current area is on the basis of the fact that they make up a homogeneous whole with the other municipalities so far as concerns the varieties used and olive cultivation and olive oil production techniques; as well as from the, inter alia, climatological, geological, edaphological points of view, which results in the oil produced there having the same characteristics as that protected by the PDO Montes de Toledo.

The 25 municipalities, which are all in the Province of Toledo, are the following: Alameda de la Sagra, Añover de Tajo, Borox, Cabañas de la Sagra, Carmena, Carranque, Cedillo del Condado, Cobeja, Esquivias, Illescas, Lominchar, Magán, Numancia de la Sagra, Palomeque, Pantoja, Recas, Seseña, Ugena, Villaluenga de la Sagra, Villaseca de la Sagra, El Viso de San Juan, Yeles, Yuncler, Yunclillos and Yuncos.

SINGLE DOCUMENT

COUNCIL REGULATION (EC) No 510/2006

‘MONTES DE TOLEDO’

EC No: ES-PDO-0105-0083-19.09.2007

PGI ( ) PDO ( X )

1.   Name:

‘Montes de Toledo’

2.   Member State or Third Country:

Spain

3.   Description of the agricultural product or foodstuff:

3.1.   Type of product:

| Clasa 1.5 — | Oils and fats |
| --- | --- |

Clasa 1.5 —

Oils and fats

3.2.   Description of the product to which the name in (1) applies:

Extra virgin olive oil obtained from the fruit of the olive tree (Olea Europea L.), of the CORNICABRA variety, by mechanical processes or other physical means that do not lead to deterioration of the oil, conserving the taste, aroma and characteristics of the fruit from which it is obtained.

Physical, chemical and organoleptic properties.

| — | The oil with the ‘Montes de Toledo’ Designation of Origin is characterised by its high oleic acid and low linoleic acid contents, with a high content of total polyphenols, which makes it very stable, a quality for which it is appreciated and known in the trade. |
| --- | --- |

—

The oil with the ‘Montes de Toledo’ Designation of Origin is characterised by its high oleic acid and low linoleic acid contents, with a high content of total polyphenols, which makes it very stable, a quality for which it is appreciated and known in the trade.

| — | Acidity: maximum 0,7 ° |
| --- | --- |

—

Acidity: maximum 0,7 °

| — | Peroxide value: maximum 15 m O2/kg |
| --- | --- |

—

Peroxide value: maximum 15 m O2/kg

| — | Ultraviolet absorbency K 270: maximum 0,15 |
| --- | --- |

—

Ultraviolet absorbency K 270: maximum 0,15

| — | Moisture content: maximum 0,1 % |
| --- | --- |

—

Moisture content: maximum 0,1 %

| — | Impurities: maximum 0,1 % |
| --- | --- |

—

Impurities: maximum 0,1 %

| — | The colour varies depending on the time of harvesting and the geographical location inside the area, from golden yellow to intense green. |
| --- | --- |

—

The colour varies depending on the time of harvesting and the geographical location inside the area, from golden yellow to intense green.

| — | From an organoleptic point of view, the Montes de Toledo Designation of Origin oils have a medium to strong fruitiness with average values for bitterness and spiciness. |
| --- | --- |

—

From an organoleptic point of view, the Montes de Toledo Designation of Origin oils have a medium to strong fruitiness with average values for bitterness and spiciness.

3.3.   Raw materials (for processed products only):

—

3.4.   Feed (for products of animal origin only):

—

3.5.   Specific steps in production that must take place in the identified geographical area:

—

3.6.   Specific rules governing slicing, grating, packaging, etc:

| — | The oil must be stored in mills and bottling plants certified by the Fundación and that have facilities suitable to ensure optimum conservation. |
| --- | --- |

—

The oil must be stored in mills and bottling plants certified by the Fundación and that have facilities suitable to ensure optimum conservation.

| — | The bottler must have separate systems for bottling the protected designation of origin oils and any other oils to be bottled. Likewise, it must have approved systems for measuring oil. |
| --- | --- |

—

The bottler must have separate systems for bottling the protected designation of origin oils and any other oils to be bottled. Likewise, it must have approved systems for measuring oil.

| — | The oil must be packaged in containers of glass, coated metal, PET or vitrified ceramic. |
| --- | --- |

—

The oil must be packaged in containers of glass, coated metal, PET or vitrified ceramic.

3.7.   Specific rules covering labelling:

The logo of the designation and the words ‘Denominación de Origen Montes de Toledo’ must appear on all labels.

The containers in which the protected oil is packaged for consumption must bear a seal of warranty, label or numbered secondary label issued by the inspection body so that they cannot be reused.

4.   Concise definition of the geographical area:

The area is in the interior of the Autonomous Community of Castile-La Mancha, in the south-east of the Province of Toledo and the north-east of the Province of Ciudad Real, of which the central axis is the Montes de Toledo mountain range.

The geographical production area is made up of 128 municipalities in the Provinces of Toledo and Ciudad Real. Of those municipalities, 106 are in the Province of Toledo and 22 in Ciudad Real.

Municipalities in the Province of Toledo:

Ajofrín, Alameda de la Sagra, Albarreal de Tajo, Alcaudete de la Jara, Aldeanueva de Barbarroya, Aldeanueva de San Bartolome, Almonacid de Toledo, Añover de Tajo, Arges, Bargas, Belvis de la Jara, Borox, Burguillos de Toledo, Burujón, Cabañas de la Sagra, Calera y Chozas, Campillo de la Jara, Cañumas, Carmena, Carpio de Tajo (El), Carranque, Casasbuenas, Cebolla, Cedillo del Condado, Cobeja, Chueca, Cobisa, Consuegra, Cuerva, Dosbarrios, Espinoso del Rey, Esquivias, Estrella (La), Gálvez, Guadamur, Guardia (La), Herencias (Las), Hontanar, Huerta de Valdecarábanos, Illescas, Layos, Lominchar, Madridejos, Magán, Malpica de Tajo, Manzaneque, Marjaliza, Mascaraque, Mata (La), Mazarambroz, Menasalbas, Mesegar, Mocejón, Mohedas de la Jara, Montearagón, Mora, Nambroca, Nava de Ricomalillo (La), Navahermosa, Navalmorales (Los), Navalucillos (Los), Noez, Numancia de la Sagra, Olías del Rey, Orgaz, Palomeque, Pantoja, Polán, Puebla de Montalban (La), Pueblanueva (La), Pulgar, Recas, Retamoso, Robledo de Mazo, Romeral (El), San Bartolome de las Abiertas, San Martín de Montalbán, San Martín de Pusa, San Pablo de los Montes, Santa Ana de Pusa, Seseña, Sevilleja de la Jara, Sonseca, Talavera de la Reina, Tembleque, Toledo, Torrecilla de la Jara, Totanes, Turleque, Ugena, Urda, Ventas con Peña Aguilera (Las), Villaluenga de la Sagra, Villaminaya, Villamuelas, Villanueva de Bogas, Villarejo de Montalbán, Villaseca de la Sagra, Villasequilla de Yepes, El Viso de San Juan, Yébenes (Los), Yeles, Yepes, Yuncler, Yunclillos and Yuncos.

Municipalities in the Province of Ciudad Real:

Alcoba, Anchuras, Arroba de los Montes, Cortijos (Los), El Robledo, Fernancaballero, Fontanarejo, Fuente el Fresno, Herencia, Horcajo de los Montes, Labores (Las), Luciana, Malagón, Navalpino, Navas de Estena, Picón, Piedrabuena, Porzuna, Puebla de Don Rodrigo, Puertolápice, Retuerta del Bullaque and Villarrubia de los Ojos.

5.   Link with the geographical area:

5.1.   Specificity of the geographical area:

The production area of olives for making protected oils is located in the Montes de Toledo range.

The Montes de Toledo are a line of low mountains with extensive flat areas in the interior.

Temperatures are fairly markedly continental.

Average annual rainfall is between 400 and 600 mm, and winter is the wettest season.

5.2.   Specificity of the product:

The characteristics of the ‘Montes de Toledo’ monovarietal Cornicabra olive oil are as follows:

| — | High oleic acid and low linoleic acid content. |
| --- | --- |

—

High oleic acid and low linoleic acid content.

| — | High content of total polyphenols, which makes it very stable. |
| --- | --- |

—

High content of total polyphenols, which makes it very stable.

| — | From an organoleptic point of view, the oils of this variety give a very thick mouth-feel and are fruity and aromatic as well as having average values for bitterness and spiciness. |
| --- | --- |

—

From an organoleptic point of view, the oils of this variety give a very thick mouth-feel and are fruity and aromatic as well as having average values for bitterness and spiciness.

5.3.   Causal link between the geographical area and the quality or characteristics of the product (for PDO) or a specific quality, the reputation or other characteristic of the product (for PGI):

The soil and climatic conditions of the area, and the work of numerous generations of olive growers, have resulted in the natural selection of the Cornicabra variety, the best adapted to the area and the only one used in the production of ‘Montes de Toledo’ olive oil.

With regard to the link between the geological and soil conditions, it should be noted how the formation of soils that are generally not very fertile has again left its mark on the crop, which is subject to continuous stress, these aspects having in turn acted as a means of natural selection, leading to product differentiation.

The Cornicabra variety together with the soil and climatic conditions of the area give the oil its specific physico-chemical and organoleptic properties referred to in point 4.2.

Reference to publication of the specification:

Regional Ministry of Agriculture Decision of 15 June 2007 granting the application to amend the specification of the Protected Designation of Origin Montes de Toledo (Resolución de 15 de junio de 2007, de la Consejería de Agricultura, por la que se adopta decisión favorable sobre solicitud de modificación del pliego de condiciones de la Denominación de Origen Protegida Montes de Toledo).

Official Gazette of Castile-La Mancha (D.O.C.M.) No 142 of 6 July 2007

The specification was published as an annex to that Decision.

It can be found at:

http://docm.jccm.es/portaldocm/verDiarioAntiguo.do?ruta=2006/07/06

Resolución de 15 de junio de 2007, Consejería de Agricultura por la que se adopta decisión favorable sobre solicitud de modificacion de pliego de condiciones de la Denominación de Origen Protegida Montes de Toledo. d.o.c.m. no 142 de 6 de julio de 2007. pág. 18173

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| 1.10.2009 | EN | Official Journal of the European Union | C 236/29 |
| --- | --- | --- | --- |

1.10.2009

EN

Official Journal of the European Union

C 236/29

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Publication of an application pursuant to Article 6(2) of Council Regulation (EC) No 510/2006 on the protection of geographical indications and designations of origin for agricultural products and foodstuffs

2009/C 236/12

This publication confers the right to object to the application pursuant to Article 7 of Council Regulation (EC) No 510/2006. Statements of objection must reach the Commission within six months of the date of this publication.

SINGLE DOCUMENT

COUNCIL REGULATION (EC) No 510/2006

‘AGLIO DI VOGHIERA’

EC No: IT-PDO-0005-0638-30.07.2007

PGI ( ) PDO ( X )

1.   Name:

‘Aglio di Voghiera’

2.   Member State or Third Country:

Italy

3.   Description of the agricultural product or foodstuff:

3.1.   Type of product (Annex II):

| Class 1.6. | Fruit, vegetables and cereals, fresh or processed |
| --- | --- |

Class 1.6.

Fruit, vegetables and cereals, fresh or processed

3.2.   Description of the product to which the name in (1) applies:

The ‘Aglio di Voghiera’ protected designation of origin is for the ‘Aglio di Voghiera’ garlic ecotype. It is a plant with uniform luminescent white bulbs with very few pink striations. The skins enveloping the cloves are white in colour, sometimes with striations of a more or less intense pink colour. The bulbs are rounded, regular and compact in shape, slightly flattened at the point of attachment to the root system. The bulb is made up of a variable number of cloves, which are joined together in a compact manner, with characteristic curving on the outside, fitting snugly together. When released for consumption, ‘Aglio di Voghiera’ must present as follows: sound bulbs with no signs of rot, free of parasites, cleaned, compact, free of frost- or sun-damage, free of externally visible sprouts, free of abnormal external moisture, free of any foreign smell and/or taste. Only ‘Extra’ class garlic (minimum diameter 45 mm) or Class I garlic (minimum diameter 40 mm) may be recognised as ‘Aglio di Voghiera’ PDO. ‘Aglio di Voghiera’ is placed on the market in the following forms: FRESH/GREEN GARLIC with green stalk, firm at the collar, and the outer skin of the bulb still fresh, white- or ivory-coloured bulb, possibly with pink striations, whitish roots; SEMI-DRY GARLIC: stalk not completely dry, ranging from green in colour to whitish, less firm at the collar; outer skin of the bulb not completely dry, bulb white or ivory in colour, possibly with pink striations, whitish roots; DRY GARLIC: dry stalk, whitish in colour and delicate in consistency, outer skin of the bulb and the skin surrounding each clove completely dry, white-coloured bulb containing visible cloves, ivory-coloured roots.

3.3.   Raw materials (for processed products only):

—

3.4.   Feed (for products of animal origin only):

—

3.5.   Specific steps in production that must take place in the identified geographical area:

All production operations must be carried out within the production area, since the specific characteristics of ‘Aglio di Voghiera’ may be attributed both to the knowledge of the producers and to the typical climate conditions of the area and the types of soil present.

3.6.   Specific rules concerning slicing, grating, packaging, etc.:

The fresh product must be placed on the market between the day it is picked and five days after, the semi-dry product between the sixth and 10th day after picking and the dry product after the 11th day. All the products are placed on the market in the following forms: braid (treccia) of from 5 to 18 bulbs weighing between 400 and 900 g, extra-large braid (treccia extra) of from 8 to 80 bulbs weighing between 1 and 5 kg, net containing a variable number of bulbs weighing between 100 and 500 grams, bags of a variable number of bulbs weighing between 1 and 5 kg, small braids (treccina) of from 3 to 5 bulbs weighing between 150 and 500 g, and individual bulbs weighing between 50 and 100 g. The packaging is made from net, wood, plastic, card, paper and natural plant materials. Containers used as packaging must be sealed so as to prevent the contents from being removed without breaking the packaging. Individual bulbs must have the stalk and roots completely removed. The packaging must be carried out carefully in such a way as to ensure that transportation and excessive handling do not cause heads to be broken or, above all, make the skin fragment, thus creating the risk of mould and deterioration of the product.

3.7.   Specific rules concerning labelling:

All packaging must bear, in legible, indelible writing on the same side, the information identifying the packer or shipper. The containers must also feature the name ‘Aglio di Voghiera’ and the words ‘denominazione di origine protetta’ (protected denomination of origin) or acronym DOP (PDO) in larger characters than any other wording featured on the packaging, and the Community logo. Individual items must bear a label with the name ‘Aglio di Voghiera’ and the letters ‘DOP’ (PDO) with the Community logo and the producer’s name. The circular logo is made up of a symbol representing a garlic clove inset into the curve of the letter V on a light blue background. The body of the garlic clove is yellow, with shading in a darker colour. Within the circle, the words ‘Aglio di Voghiera’ are written in black at an oblique angle. At the top, within the circle, the letters DOP (PDO) are shown in black. For publicity purposes only, a black and white version may be used; in this case, the circular logo is surrounded by a black line. When printed on a label, the logo must be reproduced at a scale of 1/3 with regard to the total size of the label.

4.   Concise definition of the geographical area:

The ‘Aglio di Voghiera’ production area comprises the following municipalities in the Province of Ferrara: Voghiera, Masi Torello, Portomaggiore, Argenta and Ferrara.

5.   Link with the geographical area:

5.1.   Specificity of the geographical area:

The area where ‘Aglio di Voghiera’ is cultivated is on the plain, in delta and multi-river basin conditions which offer an ideal climate for the growth of the product. The soil types are predominantly clay, clay-loam and silty-loam. The abundant fluvial sand deposits confer great underground water draining capacity, which favours the growth and development of garlic while safeguarding it from the risk of rot. The climate is characterised by low rainfall compared with other areas of the plain, with rain more frequent in spring than in the summer months. The hot, sunny summers the area enjoys favour harvesting operations and, in combinations with the humidity conditions typical of the Ferrara area, allows ‘Aglio di Voghiera’ to be dried in a slow and gradual fashion.

5.2.   Specificity of the product:

The special characteristics of ‘Aglio di Voghiera’ are its luminescent white colour, the large, round and regular bulb made up of tightly compacted cloves and, most especially, its great keeping qualities. Its chemical composition is a perfect balance of volatile oils with sulphur compounds, enzymes, vitamin B, mineral salts and flavonoids. Another no less important characteristic is the specific genetic identity, demonstrated through DNA amplification techniques and the fruit of a natural selection process effected by applying selection methods handed down from generation to generation.

5.3.   Causal link between the geographical area and the quality or characteristics of the product (for PDO) or a specific quality, the reputation or other characteristic of the product (for PGI):

The characteristics of ‘Aglio di Voghiera’ stem not only from human factors but also from its strong link with the environment. The typical characteristics of the product identified in Section 5.2 should be attributed to the land in which it is grown. The clay, clay-loam and silty-loam soils in which extensive fluvial sand deposits promote underground water drainage give rise to the keeping quality of the bulbs, their large growth, luminescent white colour and, in particular, their characteristic regular and compact shape. The reproduction of the cloves from seed by vegetative propagation using the best cloves from a bulb produces the perfect balance of enzymes, vitamins and mineral salts that give this garlic a specific genetic identity. As stated above, the other strong link that makes ‘Aglio di Voghiera’ special is that with the people of the area. They have always paid special attention to irrigation techniques during sowing and harvesting seasons and, with skills refined over the years and handed down from father to son, have hand-selected the best bulbs from previous harvests from which to draw the material to be sown, making sure that large and healthy specimens were selected, and have prepared and worked the bulbs with masterly craftsmanship, hand-making bunches, braids, smaller braids and individual bulbs and, lastly, have passed on such delicious recipes. Archaeological evidence, recent and past, of ancient Voghenza confirms the predominant role of this centre for the Po delta up to at least the seventh century. At the end of the high medieval period, the d’Este, the Dukes of Ferrara, gave the Voghiera territory a new lease of life. The domain of the d’Este family provided incentives for every possible crop on the land of this area, with particular focus on kitchen garden plants such as salad vegetables, herbs and aromatic plants and, above all, garlic. After the departure of the d’Estes in 1598, the experience gained in the agricultural field was not entirely lost since other illustrious owners noted the value of these fertile lands along the former Po river course which still today enable highly specialised crops such as garlic to be grown.

Reference to publication of the specification:

The government launched the national objection procedure with the publication of the proposal for recognising ‘Aglio di Voghiera’ as a protected designation of origin in Official Gazette of the Italian Republic No 124 of 30 May 2007.

The full text of the product specification is available:

| | at the following site: http://www.politicheagricole.it/DocumentiPubblicazioni/Search_Documenti_Elenco.htm?txtTipoDocumento=Disciplinare%20in%20esame%20UE&txtDocArgomento=Prodotti%20di%20Qualit%E0>Prodotti%20Dop,%20Igp%20e%20Stg
  or |
| --- | --- |

at the following site: http://www.politicheagricole.it/DocumentiPubblicazioni/Search_Documenti_Elenco.htm?txtTipoDocumento=Disciplinare%20in%20esame%20UE&txtDocArgomento=Prodotti%20di%20Qualit%E0>Prodotti%20Dop,%20Igp%20e%20Stg

or

| | by going directly to the home page of the Ministry (http://www.politicheagricole.it) and clicking on ‘Prodotti di Qualità’ (on the left of the screen) and finally on ‘Disciplinari di Produzione all’esame dell’UE [regolamento (CE) n. 510/2006]’. |
| --- | --- |

by going directly to the home page of the Ministry (http://www.politicheagricole.it) and clicking on ‘Prodotti di Qualità’ (on the left of the screen) and finally on ‘Disciplinari di Produzione all’esame dell’UE [regolamento (CE) n. 510/2006]’.

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