Source: https://www.global-regulation.com/translation/denmark/610634/ordinance-to-the-law-on-state-guarantees-for-loans-to-test-construction.html
Timestamp: 2019-04-21 08:11:01+00:00

Document:
Hereby promulgated the Act on State guarantee for loans for experimental construction, see. lovbekendtgørelse nr. 34 of 21. January 1999, with the changes imposed by section 69 of Act No. 430 of 6. June 2005, and section 165 of law No. 1336 of 19. December 2008.
§ 1. (Repealed) section 1a. The Minister for economic and business affairs can provide State guarantee to the experimental construction, see. paragraph 2, within a framework of up to 15 million. DKK annually for mortgages or similar mortgage loans after economic and business Minister's detailed provision granted by a financial institution, who admitted to cover 80 per cent of the difference between the value of the property at the time of loan uptake and the documented costs, including borrowing costs and, where appropriate, exchange rate losses to the construction of the following new construction for year-round use as well as for the establishment of common facilities associated with it: 1) home ownership, 2) private rental properties , 3) private cooperative dwellings which are not communicated or communicated to the undertaking in accordance with the law on public housing and supported private cooperative housing, etc., or 4) private cooperative housing, for which the Municipal Council shall notify the undertaking pursuant to section 160 (a) of the law on public housing and supported private cooperative housing, etc. the State guarantee in lieu of the in § 160 d, paragraph 1, of the law on public housing and supported private cooperative housing, etc. referred to municipal guarantee.
(2). The guarantee of the loan referred to in paragraph 1 may not cover more than 15 percent of the documented expenses for the construction of new buildings, including borrowing costs and, where appropriate, exchange rate losses. It is a condition for granting the guarantee referred to in paragraph 1, the project previously approved by the Minister for economic and business affairs as containing effort significantly with new or modified construction methods, building design and operation and maintenance methods, including experiments with organic solutions and new accommodation facilities.
(3). The net proceeds of the total equity including the Government-guaranteed loans may not exceed 80 percent of the documented expenses for the construction of new buildings, including borrowing costs and, where appropriate, exchange rate losses. It is a condition of the guarantee, the loan is granted against mortgages on the property, see. § 1 mortgage, with Lien after the preceding oprykkende loan and that the loan, which is under warranty, have the same maturity and repaid in the same way as the above loans.
(4). The guarantee covers the lender's loss on the Government-guaranteed loans and possibly overdue futures services, see. paragraph 1 and paragraph 3, 2. point, with 100 per cent Guarantee covers at all times fully a proportion of the total current remaining debt on guaranteed and preceding ugaranterede loans, which corresponds to the share of the guaranteed loan principal represents of the total principal amount of the guaranteed and the preceding ugaranterede loans. That may not be included with priority ahead of new loans it guaranteed loans, as long as the warranty runs.
(5). The guarantee scheme administered by the Danish Agency for giving the guarantee statement in relation to the lending institution.
(6). The Minister for economic and business affairs shall lay down detailed rules concerning the mentioned in paragraphs 1 to 5 ratio, including about which construction which can be considered as experimental construction, see. paragraph 2, as well as on the formulation of warranty statement, etc.
§ 2. The Minister for economic and business affairs for the Danish Agency can fully or partially transfer the powers conferred on the Minister under this Act.
(2). The Minister for economic and business affairs lays down rules on access to appeal against decisions taken pursuant to the authority in accordance with paragraph 1, including that decisions should not be brought before the Minister.
§ 3. The who provides false or misleading information in connection with the application for the granting of State guarantee, be punished with fine or booklet, unless higher penalty is inflicted for other legislation.
§ 3 the Minister for economic and Business Affairs establishes the time of the entry into force of the Act.
§ 2 the law shall enter into force on the 1. January 1999.
section 70 (1). The law shall enter into force on the day after publication in the Official Gazette.
(2). The law shall take effect from the 1. November 2005, see. However, paragraph 3.
(3). Decisions about recovery in the 1. October 2005 the appeal was lodged to the existing administrative review bodies, released for treatment in the national tax Tribunal on 1. on January 1, 2006, if the existing review bodies has not finalised its complaint before this date.
Economic and business affairs, the 16. December 2010 Brian M/Finn Lauritzen Official notes 1) Notice in the Official Gazette took place on 23. December 1993.
2 the notice in the Official Gazette) took place on 15 July. June 1995.

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