CELEX: E2002C1003(03)
Language: en
Date: 2002-10-03 00:00:00
Title: Authorisation of State aid pursuant to Articles 61 and 63 of the EEA Agreement and Article 1(3) of Protocol 3 to the Surveillance and Court Agreement — EFTA Surveillance Authority decision not to raise objections

Important legal notice

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E2002C1003(03)

Authorisation of State aid pursuant to Articles 61 and 63 of the EEA Agreement and Article 1(3) of Protocol 3 to the Surveillance and Court Agreement — EFTA Surveillance Authority decision not to raise objections  

Official Journal C 238 , 03/10/2002 P. 0018 - 0018

Authorisation of State aid pursuant to Articles 61 and 63 of the EEA Agreement and Article 1(3) of Protocol 3 to the Surveillance and Court AgreementEFTA Surveillance Authority decision not to raise objections(2002/C 238/10)Date of adoption: 31 May 2002EFTA State: IcelandAid No: SAM 030.01.008Title: Prolongation of supplementary insurance cover for third-party damage due to acts of war and terrorism ("war insurance") in support of Icelandic airline companies and cargo operatorsObjectives: Maintenance of adequate insurance cover to aircraft licensed in Iceland following exceptional circumstances (Article 61(2)(b) EEA Agreement)Legal basis: Parliamentary Acts No 120/2001, No 156/2001, No 5/2002 and No 26/2002 authorising the National Treasury to offer reinsurance for "war insurance"; reinsurance agreements with commercial insurance undertakingForm of aid: Guarantee/reinsuranceAmount of aid: 100 % reinsurance for supplementary "war insurance" in excess of USD 50/150 million and up to a ceiling of USD 700/600 million per damage or total damage during insurance period; remuneration through premium incomeDuration: 24 October 2001 to 31 May 2002