CELEX: 62005TJ0424
Language: en
Date: 2009-03-04
Title: Judgment of the Court of First Instance (Fifth Chamber) of 4 March 2009.#Italian Republic v Commission of the European Communities.#State aid - Aid scheme established by the Italian authorities for certain undertakings for collective investment in transferable securities specialised in shares of small- and medium-capitalisation companies - Decision declaring the aid to be incompatible with the common market - Obligation to state reasons - Selective nature of the measure - Effect on trade between the Member States and distortion of competition - Article 87(3)(c) EC.#Case T-424/05.

Judgment of the Court of First Instance (Fifth Chamber) of 4 March 2009 – Italy v Commission
      (Case T-424/05)
      State aid – Aid scheme established by the Italian authorities for certain undertakings for collective investment in transferable securities
         specialised in shares of small- and medium-capitalisation companies – Decision declaring the aid incompatible with the common market – Obligation to state reasons – Selective nature of the measure – Effect on trade between the Member States and distortion of competition – Article 87(3)(c) EC
      
      1.                     Acts of the institutions – Statement of reasons – Contradiction – Effects (Art. 253 EC) (see para 67)
      2.                     State aid – Examination by the Commission – Decision to open the formal investigation procedure under Article 88(2) EC (Art.
            88(2) EC; Council Regulation No 659/1999, Art. 6(1) and (7)) (see paras 69-70)
      3.                     Acts of the institutions – Statement of reasons – Obligation – Scope – Commission decision on State aid (Arts 87(1) EC and
            253 EC) (see paras 78, 85)
      4.                     State aid – Effect on trade between Member States – Adverse effect on competition – Aid of little importance in a sector with
            lively competition (Art. 87(1) EC) (see paras 153-156)
      5.                     Actions for annulment – Pleas in law – Pleas that may be raised against a Commission decision on State aid (Arts 88(2) EC
            and 230 EC) (see paras 169-171)
      6.                     State aid – Prohibition – Exceptions (Art. 87(3)(c) EC) (see paras 174-175, 179)
      Re: 
      
         
               ACTION for annulment of Commission Decision 2006/638/EC of 6 September 2005 on the aid scheme implemented by Italy for certain
                  undertakings for collective investment in transferable securities specialised in shares of small- and medium-capitalisation
                  companies listed on regulated markets (OJ 2006 L 268, p. 1).
               
            Operative part
      The Court: 
      
         
                  1.
               
               
                  
               
               
                  	Dismisses the action;
               
            
         
                  2.
               
               
                  
               
               
                  	Orders the Italian Republic to pay the costs.