natgillin/translations-raw huggingface dataset:
The high losses recorded by the three marine subsidiaries sold and the severe continuous downward trend of Elan Brod d.o.o. however highlight that the divestments were indeed at any rate necessary to restore viability and can also for this reason not be considered to qualify as compensatory measures.
Dokument, ki ga je sestavila uprava Elana, z dne 30. maja 2006 o dokapitalizaciji podjetij v Elanu.
The Commission therefore concludes that Elan's divestments and its reduction of employees and of its marketing expenditure cannot be qualified as compensatory measures.
Pismo uprave Elana podjetju KAD z dne 30. novembra 2006.
Since no appropriate compensatory measures were implemented, even taking into account Point 56 of the Rescue and Restructuring Guidelines, which stipulates that the conditions for authorising aid may be less stringent in assisted areas as regards the implementation of compensatory measures, the Commission has to conclude that the requirement of the Rescue and Restructuring Guidelines are not met with regard to the necessity to implement appropriate compensatory measures.
Glej točko 2.2 v zapisniku 134. seje nadzornega sveta KAD z dne 4. julija 2008.
As the requirements for compatible restructuring aid laid down in the Guidelines are cumulative, it is sufficient to exclude the applicability of the Guidelines if only one requirement is not met.
Sodba z dne 16. maja 2002 v zadevi Francija proti Komisiji (Stardust Marine) (C-482/99, Recueil, str.
The Commission does therefore not further assess whether the other requirements are met.
I-4397).
In light of the above, it is concluded that Measure 2 cannot be considered compatible according to the Rescue and Restructuring Guidelines.
Pripravila ga je odvetniška pisarna Jadek & Pensa, www.jadek-pensa.si, in sicer 16. aprila 2012.
Compatibility on another basis
Uradni list Republike Slovenije, št. 83/2001, s spremembami.
The exemptions in Article 107(2) of the TFEU do not apply in the present case because this measure does not have a social character, has not been awarded to individual consumers, is not designed to make good damage caused by natural disasters or exceptional occurrences and has not been awarded to the economy of certain areas of the Federal Republic of Germany affected by the division of that country.
Glej sodbo Sodišča z dne 14. novembra 1984Intermills proti Komisiji (C-323/82, Recueil, str. 3809, točka 11 in naslednje).
Further exemptions are set out in Article 107(3) TFEU.
Sodba z dne 6. marca 2003 v zadevi WestLB proti Komisiji (T-228/99, Recueil, str.
Article 107(3)(a) of the TFEU states that ‘aid to promote the economic development of areas where the standard of living is abnormally low or where there is serious underemployment’ may be declared compatible with the internal market.
II-435).
Elan is located in a region eligible for aid under Article 107(3)(a) of the TFEU [41].
Sodba z dne 16. maja 2002 v zadevi Francija proti Komisiji (Stardust Marine) (C-482/99, Recueil, str.
Compatibility of state aid to assisted areas is regulated by the Regional Aid Guidelines [42].
I-4397, točke 50 do 59).
Under the Regional Aid Guidelines, State aid can in principle only be granted to companies that are not in difficulty.
Pregled OECD: Corporate Governance in Slovenia, z dne 28. marca 2011, str. 9, http://www.oecd.org/document/58/0,3746,en_2649_34813_47492282_1_1_1_1,00.html.
Elan was however in difficulties at the time the measure was granted (see recital (74)).
„Gerüchten zufolge will die Regierung für Verluste nach dem schlechten Winter Elan eine Finanzspritze von EUR 5,7 Mio Euro zukommen lassen.“ Sport Artikel Zeitung „SAZsport“ z dne 9. junija 2008: „Zweiter Abgang an der Spitze“.
Therefore, Measure 2 cannot be considered as compatible regional aid.
[…], A Valuation of the Skimar Group, z dne 22. decembra 2006, str. 28.
In view of the above, the Commission concludes that the aid is not eligible for the derogation provided for in Article 107(3)(a) of the TFEU.
Glej zapisnik sestanka: „[…] soglaša, da uprava opravi vsa potrebna dejanja za zaščito oziroma maksimiranje vrednosti naložbe Kapitalske družbe, d.d. v družbo Skimar, d.o.o., vključno z dokapitalizacijo družbe, sorazmerno z lastniškim deležem Kapitalske družbe, d.d. in Prvega pokojninskega sklada RS, ki znaša skupaj znaša 57,606 % v maksimalni višini 5761000,00 EUR.“
Article 107(3)(b) of the TFEU states that ‘aid to promote the execution of an important project of common European interest or to remedy a serious disturbance in the economy of a Member State’ may be declared compatible with the internal market.
V sklepnih predlogih v zadevi Italija proti Komisiji (sodba z dne 19. maja 1999, C-6/97, Recueil, str.
The Commission notes that the aid in question was not designed to promote the execution of an important project of common European interest nor has the Commission found any evidence that it was designed to remedy a serious disturbance in the Slovenian economy.
I-2981) je generalni pravobranilec v točki (22) trdil, da „odločilno merilo ni ne oblika intervencije, ne njena pravna narava, ne njen namen, temveč njen rezultat.
In view of the above, the Commission concludes that the aid does not qualify for the derogation set out in Article 107(3)(b) of the TFEU.
Kakršna koli intervencija, ki daje gospodarsko prednost in jo spremlja sorazmerno zmanjšanje državnih sredstev […], je načeloma državna pomoč v smislu člena [107] Pogodbe.“
Article 107(3)(d) of the TFEU states that aid to promote culture and heritage conservation may be declared compatible with the TFEU where such aid does not affect trading conditions and competition in the EU to an extent that is contrary to the common interest.
„Strukturne prilagoditve v letih 2010 in 2011“, Vlada Republike Slovenije, oktober 2009, str. 13, http://www.arhiv.svrez.gov.si/fileadmin/svez.gov.si/pageuploads/docs/Novinarska_konferenca_strukturne_prilagoditve/NK_strukturne_prilagoditve_gradivo_1okt2009_CISTOPIS.doc.
This Article obviously does not apply to the current case.
Glej opombo 22.
Article 107(3)(c) of the TFEU provides for the authorisation of state aid to facilitate the development of certain economic activities or of certain economic areas, where such aid does not adversely affect trading conditions to an extent contrary to the common interest.
Glej zapisnik seje dne 8. septembra 2008: […]
The Commission has developed several guidelines and communications that explain how it will apply the derogation contained in this Article.
Glej zapisnik seje z dne 4. septembra 2008: „Nadzorni svet soglaša s sodelovanjem Zavarovalnice Triglav, d.d., pri povečanju osnovnega kapitala družbe Skimar, d.o.o., v višini največ 1200000,00 EUR […]“.
Given that the measures in question were granted to a company in difficulty, the Commission only assessed the compatibility of the measure under the Rescue and Restructuring Guidelines.
Glej zapisnik tega sestanka: „Nadzorni svet se je seznanil s poročilom o naložbi v Skimar d.o.o. in sklepih zadnje skupščine 28.
None of the other guidelines and communications are applicable to the measure under assessment.
8.
Therefore, the aid under assessment constitutes incompatible state aid.
2008 in podpira upravo pri aktivnem sodelovanju pri sanaciji podjetja in v tem smislu tudi potrebni dokapitalizaciji v skupni višini 10 mio. v sorazmernih deležih […].“
RECOVERY
Odločba Komisije 2008/948/ES z dne 23. julija 2008 o ukrepih Nemčije v korist družbe DHL in letališča Leipzig Halle C 48/06 (prej N 227/06) (UL L 326, 23.12.2008, str. 1), uvodne izjave (184)–(186), (226), (227); Sklep Komisije z dne 17. junija 2008 o letališču Frankfurt-Hahn – morebitna državna pomoč letališču in pogodba s podjetjem Ryanair, C 29/2008 (UL C 12, 17.1.2009, str. 6), uvodne izjave (212)–(218).
According to the TFEU and the Court of Justice's established case-law, the Commission is competent to decide that the state concerned must abolish or alter aid [43] when it has found that it is incompatible with the internal market.
Glej zlasti sodbo z dne 17. septembra 1980 v zadevi Philip Morris proti Komisiji (C-730/79, Recueil, str. 2671, točka 11), sodbo z dne 22. novembra 2001 v zadevi Ferring (C-53/00, Recueil, str.
The Court has also consistently held that the obligation on a state to abolish aid regarded by the Commission as being incompatible with the internal market is designed to re-establish the previously existing situation [44].
I-9067, točka 21) in sodbo z dne 29. aprila 2004 v zadevi Italija proti Komisiji (C-372/97, Recueil, str.
In this context, the Court has established that this objective is attained once the recipient has repaid the amounts granted by way of unlawful aid, thus forfeiting the advantage which it had enjoyed over its competitors on the market, and the situation prior to the payment of the aid is restored [45].
I-3679, točka 44).
Following the case-law, Article 14 of the Procedural Regulation laid down that ‘where negative decisions are taken in respect of unlawful aid, the Commission shall decide that the Member State concerned shall take all necessary measures to recover the aid from the beneficiary.’
Na primer sodba z dne 12. septembra 2007 v zadevi Olympiaki Aeroporia Ypiresies proti Komisiji (T-68/03, ZOdl., str.
Thus, given that the measure at hand is to be considered as unlawful and incompatible aid, the aid must be recovered in order to re-establish the situation that existed on the market prior to the granting of the aid.
II-2911, točke 34 do 37).
Recovery shall hence cover the time from when the advantage occurred to the beneficiary, that is to say when the aid was put at the disposal of the beneficiary until effective recovery and shall bear recovery interest until effective recovery.
Dopis odvetniške pisarne Jadek & Pensa v imenu Elana z dne 2. decembra 2012.
The capital injection in 2008 needs to be recovered in its totality as the decisions of all five entities taking part in the operation are imputable to the State.
Glej zadevo št.
The total amount of the capital injection was EUR 10 million, of which EUR 5,924 million were injected into Elan Winter sport and EUR 4,076 million into Elan Marine.
COMP/M.3765 – AMER SALOMON, http://ec.europa.eu/competition/mergers/cases/decisions/m3765_20051012_20212_en.pdf.
Those two companies, were however, in June 2010 merged into their parent company Elan.
Glej opombo 36.
The date from when the recovery interest has to be calculated is the date when the capital was actually put at the disposal of the beneficiary, which was 8 September 2008.
Glej predložene dokumente Slovenije z dne 10. oktobra 2011, v katerih je dopis KAD o prodaji podjetij v morski diviziji, ki štejejo kot „neključne dejavnosti“, oziroma dopis odvetniške pisarne Jadek & Pensa, ki zastopa Elan, z dne 26. aprila 2012, ki pojasnjuje, da so banke zahtevale prodajo neključnih sredstev na Hrvaškem kot pogoj za sklenitev sporazumov o refinanciranju.
CONCLUSION
Karta regionalnih pomoči za Slovenijo, ki jo je Komisija odobrila dne 13. septembra 2006 in je objavljena v UL C 256, 24.10.2006, str. 6.
The capital injection in favour of Elan decided in January 2007 (Measure 1) does not involve state aid, as the shareholders decision was in line with the market economy investor principle.
UL C 54, 4.3.2006, str. 13.
The capital injection in favour of Elan decided in August 2008 (Measure 2) involves state aid.
Sodba z dne 12. julija 1973 v zadevi Komisija proti Nemčiji (C-70/72, Recueil, str. 813, točka 13).
The state aid is not compatible with the internal market.
Sodba z dne 14. septembra 1994 v združenih zadevah Španija proti Komisiji (C-278/92, C-279/92 in C-280/92, Recueil, str.
It does not meet the requirements of the Rescue and Restructuring Guidelines.
I-4103, točka 75).
None of the provisions of Article 107(2) and (3) of the TFEU is met either.
Sodba z dne 17. junija 1999 v zadevi Belgija proti Komisiji (C-75/97, Recueil, str.
Therefore, the capital injection of EUR 10 million has to be recovered from Elan together with the recovery interests.
I-3671, točki 64 in 65).
HAS ADOPTED THIS DECISION:
UL L 140, 30.4.2004, str.
The capital injection of January 2007 does not constitute aid within the meaning of Article 107(1) of the Treaty on the Functioning of the European Union.
z dne 19. septembra 2012
Article 2
Komisija je Sloveniji poslala več zahtev za informacije, na katere je Slovenija odgovorila z dopisi z dne 14. oktobra 2008, 30. januarja 2010 in 22. februarja 2010.
The state aid measure in favour of Elan in the form of a capital increase of EUR 10 million in 2008 was unlawfully put into effect by Slovenia in breach of Article 108(3) of the Treaty on the Functioning of the European Union and is incompatible with the internal market.
Komisija je novembra 2009 poslala zahtevo za informacije tudi pritožniku, na katero je ta odgovoril 5. marca 2010.
Article 3
Komisija je nato 16. avgusta 2011 poslala slovenskim organom zahtevo za informacije, na katero so ti odgovorili z dopisom z dne 10. oktobra 2011.
Slovenia shall recover the aid referred to in Article 2 from the beneficiary Elan.
Več prilog k temu dopisu je bilo predloženih 11. oktobra 2011.
The sum to be recovered shall bear interest from the date on which it was put at the disposal of the beneficiary (8 September 2008) until its actual recovery.
Po sestanku med službami Komisije in predstavniki podjetja je Slovenija predložila dodatne informacije, in sicer z dopisi z dne 6. marca, 30. marca, 13. aprila, 16. aprila, 23. aprila, 10. maja, 15. maja in 30. maja 2012.
The interest shall be calculated on a compound basis in accordance with Chapter V of Commission Regulation (EC) No 794/2004 [46].
podjetju Elan d.o.o.
Slovenia shall cancel all outstanding payments of the aid referred to in Article 2 with effect from the date of adoption of this Decision.
(v nadaljnjem besedilu: Elan Winter sport), ki se je ukvarjalo z zimskimi dejavnostmi Elana.
Article 4
Podjetje Elan Winter sport je imelo deleže v več trgovinskih podjetjih,
Recovery of the aid referred to in Article 2 shall be immediate and effective.
podjetju Elan Marine d.o.o.
Slovenia shall ensure that this decision is implemented within four months following the date of notification of this Decision.
podjetju Elan Inventa d.o.o.
Article 5
podjetju Marine Nova d.o.o.
Within two months following notification of this Decision, Slovenia shall submit the following information to the Commission:
Leta 2007 se je položaj podjetja začel slabšati, kar je povzročilo upad prometa in neto izgube v letih 2007–2008.
the total amount (principal and recovery interests) to be recovered from the beneficiary;
Natančnejša ocena finančnega stanja Elana je navedena v uvodnih izjavah (68) do (74).
a detailed description of the measures already taken and planned to comply with this Decision;
PDP je finančni holding, ustanovljen junija 2009.
documents demonstrating that the beneficiary has been ordered to repay the aid.
Je v lasti treh skladov, ki so v lasti države, in sicer KAD, DSU in SOD, in v imenu slovenske države deluje kot podjetje za prestrukturiranje.
Slovenia shall keep the Commission informed of the progress of the national measures taken to implement this Decision until recovery of the aid referred to in Article 2 has been completed.
Za leti 2006–2007 so bile načrtovane naložbe v višini 20,2 milijona EUR.
It shall immediately submit, on simple request by the Commission, information on the measures already taken and planned to comply with this Decision.
Za financiranje teh naložb je Elan družbenikom predlagal dokapitalizacijo v višini 20,2 milijona EUR.
It shall also provide detailed information concerning the amounts of aid and recovery interest already recovered from the beneficiary
Istočasno, torej med letom 2006, je Elan začel kupovati novo proizvodno opremo, ki je bila prav tako predvidena v strateškem razvojnem načrtu.
Article 6
Potem je novembra 2006 Elan pripravil podrobnejšo analizo učinkov dokapitalizacije [9], ki je pokazala, da bi po naložbah skupni neto dobiček zimske divizije v obdobju 2006–2010 znašal 15,4 milijona EUR, medtem ko bi brez dokapitalizacije ta divizija imela skupno neto izgubo v višini 4,8 milijona EUR.
This Decision is addressed to the Republic of Slovenia.
Tudi skupni neto dobiček morske divizije za obdobje 2006–2010 bi bil višji v primeru dokapitalizacije (14,9 milijona EUR v primerjavi z 8 milijoni EUR).
Done at Brussels, 19 September 2012.
Hkrati je Elanov večinski družbenik KAD ocenil vrednost skupine na 22,8 milijona EUR.
For the Commission
Nadzorni sveti družbenikov Elana, in sicer KAD, DSU, Zavarovalnice Triglav in podjetja Triglav Naložbe, so odobrili dokapitalizacijo že decembra 2006 oziroma januarja 2007.
Vice-President
Uradno je bila dokapitalizacija potrjena na skupščini družbenikov 25. oktobra 2007.
OJ C 223, 18.8.2010, p. 8.
Družbeniki so svoje prispevke plačali 15. novembra 2007, in sicer v sorazmerju s svojim lastniškim deležem.
See footnote 1.
Potem ko je SKB banka d.d. v začetku leta 2008 zavrnila nadaljnje financiranje Elana, je KD Kapital marca 2008 izvršil svojo prodajno opcijo, transakcija je bila izvedena aprila 2008.
Guidelines on national regional aid for 2007-2013, OJ C 54, 4.3.2006, p. 13.
Delež, ki je pripadal KD Kapital, je odkupil KAD, ki je s tem povečal svoj delež v Elanu.
‘Structural Adjustments 2010 and 2011’, Government of the Republic of Slovenia, October 2009, p. 12, at: http://www.svrez.gov.si/fileadmin/svez.gov.si/pageuploads/docs/strukturne_prilagoditve/Structural_adjustmements_SLO_EN.pdf
Ravno nasprotno, ena od Elanovih upnic, in sicer SKB banka d.d., je sprožila sodni postopek za uveljavitev svoje terjatve in avgusta 2008 je sodišče v Ljubljani izdalo sklep o izvršbi, s katerim je Elanu naložilo plačilo neporavnanih dolgov.
In December 2009 PDP held shares of 10 Slovenian companies previously owned by KAD, SOD and DSU; cf.
Izvršba tega sklepa bi pomenila stečaj podjetja.
‘Who we are’ — PDP powerpoint presentation submitted by the Slovenian authorities.
Glede na to je Elan sklical izredno skupščino družbenikov, ki je potekala 28. avgusta 2008.
Business secret.
Temu je sledila analiza poslovanja podjetij Elan Winter sport in Elan Marine od januarja do junija 2008.
A document done by the Management Board of Elan, dated 30 May 2006, on the capital increase of the companies in Elan.
Za tem je načrt vključeval poglavje o sanaciji podjetja.
Letter from Elan's management board to KAD, dated 30 November 2006.
Slovenija je predložila svoje pripombe z dopisi z dne 9., 10. in 16. junija 2010.
See Minutes of the 134th meeting of KAD's supervisory board, 4 July 2008, point 2 of the agenda, section 2.
Dodatne informacije so bile poslane 10. oktobra 2011 ter z dopisi z dne 6. marca, 30. marca, 13. aprila, 16. aprila, 23. aprila, 10. maja, 15. maja in 30. maja 2012 (glej uvodno izjavo (4)).
Case C-482/99 French Republic/Commission (Stardust Marine) [2002] ECR I-4397.
Za izvedbo teh naložb je maja 2006 Elan družbenikom predlagal dokapitalizacijo Elana v letih 2006–2009 z 20,2 milijona EUR.
Done by the law firm Jadek&Pensa, www.jadek-pensa.si/en, dated 16 April 2012.
Družbeniki so predlog preudarno ocenili, Elan pa jim je predložil dokumente, ki so jasno prikazovali, da bi bila taka dokapitalizacija za družbenike dobičkonosna.
‘Obligacijski zakonik’, Official Gazette of Slovenia 83/2001 with amendments.
Na podlagi zgoraj omenjenih dejavnikov so Elan in njegovi družbeniki januarja 2007 sklenili pismo o nameri, v katerem so soglašali, da bodo družbeniki dokapitalizirali podjetje z 10,225 milijona EUR.
See ECJ 323/82 Intermills/Commission [1984] ECR 3809, paras.
Tudi KD Kapital, edini zasebni družbenik Elana, je pristal na pismo o nameri brez kakršnih koli pogojev.
11 et seq.
Slovenija trdi, da bi družbeniki sicer lahko izgubili svojo celotno naložbo v Elan.
Case T-228/99, WestLB/Commission, ECR 2003, II-435.
Glede na zgoraj navedeno Slovenija meni, da so družbeniki Elana ravnali v skladu z načelom vlagatelja v tržnem gospodarstvu.
Case C-482/99 French Republic/Commission (Stardust Marine) [2002] ECR I-4397, paragraphs 50-59.
V zvezi s tem je treba poudariti, da se je v obdobju 2003–2006 promet skupine povečal s 109,2 milijona EUR na 122,4 milijona EUR.
OECD review: Corporate Governance in Slovenia, p. 9, 28/3/2011, at: http://www.oecd.org/document/58/0,3746,en_2649_34813_47492282_1_1_1_1,00.html
Poleg tega je imela skupina Elan v tem obdobju razen leta 2004 neto dobiček.
‘Gerüchten zufolge will die Regierung für Verluste nach dem schlechten Winter Elan eine Finanzspritze von EUR 5,7 Mio Euro zukommen lassen.’
Finančno stanje Elana se je začelo slabšati med letom 2007.
Sport Artikel Zeitung ‘SAZsport’, dated 9 June 2008: ‘Zweiter Abgang an der Spitze’.
Promet skupine se je leta 2007 zmanjšal za 5 milijonov EUR na 117,5 milijona EUR in leta 2008 padel na 100 milijonov EUR.
[…], A Valuation of the Skimar Group, 22 December 2006, p. 28.
Hkrati je skupina Elan z letom 2007 začela poslovati z izgubo, saj je poslovni izid padel z 0,6 milijona EUR leta 2006 na –8,4 milijona EUR leta 2007 in –12,7 milijona EUR leta 2008.
See the minutes of the meeting: ‘[…] grants its approval of the management board taking all necessary steps to protect and maximise the value of the investment of KAD in the company Skimar, d.o.o., including the recapitalisation of the company, proportionate with the participating interest of Kapitalska družba, d.d. and Prvi pokojninski sklad RS (First Pension Fund), which amounts in total to 57,606 % in a maximum amount of EUR 5761000,00.’
Prihodki od prodaje v morski diviziji Elana so se leta 2007 znatno povečali z 31,8 milijona EUR na 38,6 milijona EUR, vendar je imelo podjetje manjšo izgubo v višini –0,3 milijona EUR.
In Case C-6/97 Italy/Commission [1999] ECR I-2981, recital (22), the General Advocate argued that ‘the decisive criterion is not the form that the intervention takes, nor of course, its legal nature or the aim it pursues but the result to which it leads.
Vendar se je položaj poslabšal leta 2008, ko je prodaja padla za eno tretjino z 38,6 milijona EUR na 25,9 milijona EUR in Elan Marine je utrpel neto izgubo v višini –10,2 milijona EUR.
Any intervention which gives rise to an economic advantage, accompanied by a correlative decrease in state resources … is in principle state aid for the purposes of Article [107] of the Treaty’.
Kot je opisano zgoraj (glej uvodno izjavo (24)), so družbeniki Elana in Elan29. januarja 2007 podpisali pismo o nameri, vendar je bila dokapitalizacija uradno potrjena šele na skupščini družbenikov Elana oktobra 2007.
‘Structural Adjustments 2010 and 2011’, Government of the Republic of Slovenia, October 2009, p. 13, at: http://www.svrez.gov.si/fileadmin/svez.gov.si/pageuploads/docs/strukturne_prilagoditve/Structural_adjustmements_SLO_EN.pdf
Zato je treba ugotoviti, ali je pismo o nameri že mogoče šteti za zavezujoče za družbenike na način, ki omogoča sklep, da se lahko šteje, da je bil ukrep 1 odobren na dan podpisa pisma o nameri.
See footnote 22.
Ti posojili družbenika sta bili pozneje spremenjeni v lastniški delež v hčerinskih podjetjih, zato je treba ugotoviti, ali sta imela koristi od dokapitalizacije samo podjetji Elan Winter sport in Elan Marine ali skupina kot celota.
See minutes of the meeting of 8 September 2008: […].
Elanova podrobna analiza učinkov dokapitalizacije je pokazala, da bi po naložbah skupni neto dobiček zimske divizije v obdobju 2006–2010 znašal 15,4 milijona EUR, medtem ko bi brez dokapitalizacije ta divizija imela skupno neto izgubo v višini 4,8 milijona EUR.
See minutes of the meeting dated 4 September 2008‘The supervisory board consents to the participation of Zavarovalnica Triglav, d.d., in the capital increase of Skimar, d.o.o., in the amount of EUR 1200000,0 […]’.
Tudi skupni neto dobiček morske divizije za obdobje 2006–2010 bi bil višji v primeru dokapitalizacije (glej uvodni izjavi (23) in (24)).