Source: https://www.global-regulation.com/translation/belgium/6524314/act-amending-the-act-of-november-3%252c-2001%252c-relative-to-the-creation-of-the-belgian-investment-company-for-developing-countries-and-amending-the-act.html
Timestamp: 2020-03-29 17:20:18
Document Index: 359662304

Matched Legal Cases: ['Art. 2', 'art. 2', 'art. 1', 'Art. 4', 'art. 3', '§ 4', 'Art. 5', 'art. 4', 'art. 3', 'Art. 6', 'art. 3', 'Art. 7', 'art. 6', 'art. 3', '§ 1', '§ 2', '§ 3', '§ 6', 'Art. 8', 'art. 7', 'art. 3', '§ 1', '§ 1', '§ 1', '§ 4', '§ 5', 'Art. 9', 'art. 8', 'art. 3', '§ 1', '§ 1', '§ 2', '§ 1', '§ 4', 'art. 9', 'Art. 11', 'art. 9']

Machine Translation of "Act Amending The Act Of November 3, 2001, Relative To The Creation Of The Belgian Investment Company For Developing Coun..." (Belgium)
Act Amending The Act Of November 3, 2001, Relative To The Creation Of The Belgian Investment Company For Developing Countries And Amending The Act Of 21 December 1998 On The Establishment Of The "belgian Technical Cooperation" In The Form Of A Company Of
Original Language Title: Loi modifiant la loi du 3 novembre 2001 relative à la création de la Société belge d'Investissement pour les Pays en Développement et modifiant la loi du 21 décembre 1998 portant création de la "Coopération technique belge" sous la forme d'une société de
Published the: 2016-08-11 Numac: 2016015098 FOREIGN AFFAIRS, OUTSIDE TRADE AND DEVELOPMENT COOPERATION FEDERAL PUBLIC SERVICE JULY 21, 2016. -Law amending the law of November 3, 2001, relative to the creation of the Belgian investment company for developing countries and amending the Act of 21 December 1998 on the establishment of the "Belgian Technical Cooperation" in the form of a public company PHILIPPE, King of the Belgians, all, present and future, A salvation.
Art. 2. (new) in the Act of November 3, 2001, relative to the creation of the Belgian investment company for developing countries and amending the Act of 21 December 1998 establishing the "Belgian Technical Cooperation" in the form of a public company, it is inserted an Ierbis chapter titled "Définitions".
3. (former art. 2) in chapter Ierbis, inserted by section 2, inserted a 1erbis article, written as follows: "art. 1erbis. in this Act, means: (1) "MSMES" (Micro-, small and medium-sized enterprises): companies not reaching the limits set by the European Commission related to the annual turnover and the balance sheet total (recommendation 2003/361/EC of 6 May 2003);
(2) "country of intervention": developing countries, belonging to the following categories such as defined by the Committee of the Organization for cooperation and development (OECD) development assistance:-the least developed countries;
-countries with low income;
-Middle and lower income countries;
-the middle income countries, slice superior;
(3) "technical assistance": the set of measures designed to strengthen the skills of companies and to support their activities in technical, financial, administrative, social, environmental, and management and good governance. Technical assistance has for objective the transfer of knowledge, skills and experiences to businesses, to improve their performance in economic, social, environmental and development;
(4) "feasibility study": the study which examines whether a project is technically feasible and economically viable. The study reflected a project in terms of figures, realistic, measurable and achievable objectives in a given context and indicates the means necessary to achieve them;
(5) "intermediate structure": the investment funds, holding companies or investment companies oriented exclusively to companies established in the country of intervention, as well as financial institutions, non-banking, such as commercial or cooperative banks and banking institutions and microfinance banks, leasing companies, factoring companies, and insurance companies that provide services to the companies and the populations of the countries of intervention;
(6) "final beneficiary": the company established in the country of intervention which receives the intervention. "."
Art. 4. (former art. 3) in the article 2bis of the same law, paragraph 4 is replaced by the following: "§ § 4 4." Executive Director of the Development Cooperation and humanitarian aid represents the Directorate-General of Cooperation for development and humanitarian aid of the FPS Foreign Affairs, foreign trade and Cooperation to development within the Board of Directors. He does have the right to vote.
His remuneration is identical to that of administrators and is in charge of BIO. "."
Art. 5 (former art. 4) section 3 of the Act is replaced by the following: "art. 3. ORGANIC has for purpose to invest directly or indirectly in the development of: 1 ° MSMES and companies of the social economy in the country of intervention.
(2) MSMES and companies located in the countries response, contributing either (i) to improve energy access businesses and the population of the countries of intervention, or (ii) to improve access to digital technology companies and the population of the country of intervention or (iii) which contribute to the fight against climate change in the country of intervention.
(3) MSMES and companies established in the countries active in the production, processing, trade or the marketing of agricultural commodities, agricultural products and food products, contributing directly or indirectly to strengthen food security in the country of intervention;
(4) MSMES and companies established in the country of intervention whose purpose is to provide basic services to the population of these countries.
BIO may invest if the interventions referred to in paragraph 1, 1 ° to 4 °, meet the following conditions: (1) aim to contribute to the economic and social progress of the countries and thus provide a sufficient perspective on development performance;
(2) lead directly or indirectly to sustainable productive employment, respecting fundamental social rights as defined by the conventions of the International Labour Organization;
(3) provide a sufficient performance perspective;
(4) be additional.
BIO exercises its tasks in a way not related. The direct or indirect funding are not conditioned by the purchase of goods or services from Belgian companies.
BIO's ambitious policy on equality between men and women, in order to achieve a fair distribution of direct or indirect financing granted. "."
Art. 6 (former article 5) in the same Act, it is inserted an article 3bis drafted as follows: "art. 3A. for the realization of its social, BIO object may undertake the following actions in the conditions of the market,: (1) create foreign companies, alone or jointly with other investors;
(2) create a management company under Belgian law, with a view to the creation of investment funds;
(3) participate directly in the capital of Belgian companies or foreign, including the acquisition of rights of subscription or other convertible financial instruments in capital;
(4) grant funding in the medium or long term, in the form of loans or in other forms, such as the subscription of bonds or other debt instruments. Debt can be subordinate or not, with a right of conversion into capital, with a collateral or not;
(5) create or take minority stakes in development funds, investment funds, corporations or the holdings of investment of Belgian or foreign law, exclusively oriented countries of intervention, for as far as the purpose of these funds or companies is compatible with its corporate purpose. If ORGANIC is the exclusive Manager of such development or investment funds, these funds are created in Belgian law;
(6) management or advise the funds or companies referred to in the 5th and provide other services in support of the activities of such funds or companies, alone or in partnership, either directly or indirectly through companies it represents for this purpose or in which she takes a stake.
(7) provide assurances;
(8) manage, enhance, and liquidate its interests and participations as well as participate directly indirectly or management, management, control, and the liquidation of companies, businesses and associations;
(9) study, develop and manage projects at the request of third parties;
(10) make all industrial, commercial, financial, promotional, securities or property necessary or useful to the achievement of its corporate purpose. "."
Art. 7 (former art. 6) in the same Act, it is inserted an article 3ter drafted as follows: "art. 3ter. § 1. BIO provides grants to fund programs to support the development of businesses.
Support programs may contain the following: (1) training programs;
(2) technical assistance programmes;
(3) feasibility studies;
(4) support programs for MSMES who develop pioneering projects and innovative investment.
The programs of support to the development of the following companies: 1 ° companies established in the country of intervention, funded directly or indirectly by BIO, in any form whatsoever except for a subsidy, provided that this funding is still ongoing in the allocation of the subsidy;
(2) at their request, companies established in the country of intervention likely to benefit, directly or indirectly, funding by BIO, in any form whatsoever except for a subsidy, but who have not yet benefited from such funding;
(3) companies to establish in the countries likely to benefit, directly or indirectly, funding by BIO, in any form whatsoever except for a subsidy, which the sponsor is an individual or entity established in a country of intervention.
§ 2. The grantees are: (1) the undertakings referred to in paragraph 1, subparagraph 3, 1 ° and 2 °.
(2) the promoter referred to in paragraph 1, paragraph 3 (3);
(3) the intermediate structures funded by BIO.
§ 3. The maximum amount of the grant is set at 350,000 euros per beneficiary.
When the grant is intended to finance a feasibility study, the amount referred to in paragraph 1 is limited to EUR 100 000.
4. The undertakings referred to in paragraph 1, subparagraph 3, 1 ° and 2 °, as well as the promoter of the undertakings referred to in paragraph 1, paragraph 3 (3), participate in the cost of the support program, in a proportion to be determined by BIO.
When the grant is intended to finance a feasibility study, financing of BIO is limited to maximum 50% of the cost of the support program.
5. The granting of the subsidy is made by the signing of an agreement between BIO and the beneficiary. The grant agreement includes: (1) the description of the activities;
(2) if the beneficiary is an intermediate structure which is not established in a country of intervention, the mention that the subsidies will be used exclusively for the financing of programmes to support the development of companies established in the country of intervention financed by these intermediate structures;
(3) the terms of financing;
(4) the obligations of reporting, including the rationale for the use of the means, the possibilities for control of BIO and the terms of repayment of the grant.
§ 6. The subsidies granted by BIO are not subject to the obligation to search for a performance referred to article 3, paragraph 2 (3), and are granted within the limit of resources specifically made available to ORGANIC by the Belgian State. "."
Art. 8 (former art. 7) in the same Act, it is inserted an article 3quater drafted as follows: "art. 3quater. § 1.
BIO implements itself in accordance with article 3ter support programs, § 1, paragraph 2, for the development of one or more of the undertakings referred to in article 3ter, § 1, paragraph 3, either with its own human resources or by the intervention of the experts that it mandates.
2. The business or businesses support program targets are specifically identified.
The use of this form of support is duly motivated for each support program.
3. The cost of support BIO-supported program is set to maximum 350,000 euros by support program.
When the support program is a feasibility study, the amount referred to in paragraph 1 is limited to EUR 100 000.
§ 4. The company or support program target companies participate in the cost of the support program, in a proportion to be determined by ORGANIC.
When the support program is a feasibility study, the cost borne by BIO is limited to maximum 50% of the cost of the support program.
§ 5. Support programs supported by BIO are not subject to the obligation to search for a performance referred to article 3, paragraph 2 (3), and are granted within the limit of resources specifically made available to ORGANIC by the Belgian State. "."
Art. 9 (former art. 8) in the same Act, it is inserted an article 3quinquies as follows: "art. 3quinquies. § 1. BIO cannot invest directly or via an intermediate structure, when the final recipient of the intervention or the intermediate structure are established in a country referred to in article 307, § 1, paragraph 5, has), the Tax Code on 1992 income, with the exception of the countries considered by the global OECD Forum on transparency and exchange of information for tax as having not put substantially and effectively implement the OECD for a time standard less than five years old.
§ 2. BIO cannot invest directly or via an intermediate structure, when the final recipient of the intervention or the intermediate structure are established in a country referred to in article 307, § 1, paragraph 5, b), of the 1992 income tax Code. This list is defined by royal decree deliberated in the Council of Ministers.
3. BIO cannot invest directly or via an intermediate structure, when the final recipient of the intervention or the intermediate structure are established in a country which is on the list of States that refuse to negotiate and to sign an agreement which provides, according to the OECD standards, the automatic exchange of information in tax and banking with the Belgium from 2015.
This list is defined by royal decree deliberated in the Council of Ministers.
§ 4. The limitations referred to in paragraphs 1 to 3 apply also to support programs funded by subsidies granted by BIO or directly implemented by BIO. "."
10. (former art. 9) article 7 of the same law is completed by two paragraphs written as follows: "BIO will report annually of justification for the use of the specifically means at his disposal to finance support programmes to the Member of Government who is responsible the Development Cooperation.
The report contains the following data: (1) the assessment of the activities carried out;
(2) the balance sheet;
(3) the assessment of development results and financial achieved;
(4) any changes to consider strategy in respect of the management contract. "."
Art. 11 (former article 10) in the same Act, it is inserted an article 9bis to read: "art. 9bis. BIO staff members are hired under employment contract in accordance with the employment contracts Act of 3 July 1978.
As far as BIO does not itself have the necessary expertise, it can appeal to a third party, with recognized skills, for the preparation of the investment decisions and of the control of their implementation. "."
Enact this Act, order that it self clothed with the seal of State and published in the Moniteur belge.
Given to Brussels, July 21, 2016.
PHILIPPE by the King: the Deputy Prime Minister and Minister of Cooperation to the development, the Digital Agenda, Telecommunications and post, A. DE CROO sealed with the seal of the State: the Minister of Justice, K. GEENS _ Note House of representatives (www.lachambre.be) Documents: 54 1865 full report: July 14, 2016.
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