natgillin/translations-raw huggingface dataset:
Norway has requested the EFTA Surveillance Authority to update Decision No 226/96/COL in order to take account of the new legislative changes in the field of additional guarantees for intra-Union trade in pigs relating to Aujeszky’s disease.
Norveška je od Nadzornega organa Efte zahtevala, da posodobi svojo Odločbo št. 226/96/COL, da se bodo upoštevale nove zakonodajne spremembe na področju dodatnih jamstev glede bolezni Aujeszkega za trgovino s prašiči znotraj Unije.
It is therefore appropriate to repeal Decision No 226/96/COL in accordance to the latest legislative changes in the field of additional guarantees for intra-Union trade in pigs relating to Aujeszky’s disease.
Zato bi bilo Odločbo št. 226/96/COL ustrezno razveljaviti v skladu z zadnjimi zakonodajnimi spremembami na področju dodatnih jamstev glede bolezni Aujeszkega za trgovino s prašiči znotraj Unije.
The new Decision will maintain the same guarantees previously granted to Norway as well as aligning them with the new criteria set out in relevant EEA legislation, in particular Decision 2008/185/EC, as amended.
V novi odločbi bodo jamstva, ki so bila predhodno dodeljena Norveški, ostala enaka, poleg tega se bodo uskladila z novimi merili, določenimi z zadevno zakonodajo EGP, zlasti Odločbo 2008/185/ES, kakor je bila spremenjena.
All regions in Norway are free of the Aujeszky’s disease and vaccination is prohibited.
V nobeni regiji Norveške ni bolezni Aujeszkega, cepljenje je prepovedano.
Norway is granted the additional guarantees relating to Aujeszky’s disease laid down in Decision 2008/185/EC, as amended, when trading pigs within the European Economic Area (EEA).
Norveški se dodelijo dodatna jamstva glede bolezni Aujeszkega iz Odločbe 2008/185/ES, kakor je bila spremenjena, za trgovino s prašiči v Evropskem gospodarskem prostoru (v nadaljnjem besedilu: EGP).
Norway has the same status as those EU Member States listed in Annex I to Decision 2008/185/EC.
Norveška ima enak status kot države članice EU, ki so navedene v Prilogi I k Odločbi 2008/185/ES.
The institution referred to in paragraph 1 of Annex III to Decision 2008/185/EC is the Veterinærinstituttet, Oslo, Norway.
Ustanova iz odstavka 1 Priloge III k Odločbi 2008/185/ES je Veterinærinstituttet, Oslo, Norveška.
Decision No 226/96/COL is hereby repealed.
Odločba št. 226/96/COL se razveljavi.
Done at Brussels, 21 April 2010.
V Bruslju, 21. aprila 2010.
OJ L 78, 20.3.1997, p. 46.
UL L 78, 20.3.1997, str. 46.
OJ L 232, 3.9.2009, p. 1.
UL L 232, 3.9.2009, str. 1.
No 291/10/COL
št. 291/10/COL
concerning the recognition of approved zones in Norway with regard to Bonamia ostreae and Marteilia refringens
o priznavanju odobrenih območij na Norveškem glede Bonamia ostreae in Marteilia refringens
Having regard to the Act referred to at point 4.1.5a of Chapter I of Annex I to the EEA Agreement, Council Directive 2006/88/EC of 24 October 2006 on animal health requirements for aquaculture animals and products thereof, and on the prevention and control of certain diseases in aquatic animals [1], as adapted by Protocol 1 to the EEA Agreement, in particular Article 53 of that Act,
ob upoštevanju akta iz točke 4.1.5a poglavja I Priloge I k Sporazumu EGP, Direktiva Sveta 2006/88/ES z dne 24. oktobra 2006 o zahtevah za zdravstveno varstvo živali in proizvodov iz ribogojstva ter o preprečevanju in nadzoru nekaterih bolezni pri vodnih živalih [1], kakor je bil sprejet s Protokolom 1 k Sporazumu EGP, in zlasti člena 53 tega akta,
By its Decision No 225/04/COL of 9 September 2004, the EFTA Surveillance Authority recognised the entire coastline of Norway as an approved zone with regard to Bonamia ostreae and Marteilia refringens.
Z Odločbo št. 225/04/COL z dne 9. septembra 2004 je Nadzorni organ Efte priznal celotno obalo Norveške za odobreno območje v zvezi z boleznima Bonamia ostreae in Marteilia refringens.
Norway informed the EFTA Surveillance Authority by e-mail of 3 June 2009 that an infection with Bonamia ostreae had been detected in wild oysters from the county of Aust-Agder in the south of Norway and that a control zone and a surveillance zone around the area affected had been established.
Norveška je 3. junija 2009 z elektronsko pošto obvestila Nadzorni organ Efte, da je bila v divjih ostrigah iz okrožja Aust-Agder na južnem Norveškem odkrita infekcija z Bonamia ostreae ter da sta bila okrog prizadetega območja vzpostavljena kontrolno in nadzorno območje.
By letter dated 23 April 2010 (event No 554681), Norway has confirmed to the EFTA Surveillance Authority that the presence of Bonamia ostreae in the wild oysters from the county of Aust-Agder in the south of Norway could not be excluded and, hence, that no conclusive evidence could justify the lifting of a control and surveillance zone around the relevant area.
Z dopisom z dne 23. aprila 2010 (evidenčna št. 554681) je Norveška potrdila, da prisotnosti bolezni Bonamia ostreae v divjih ostrigah iz okrožja Aust-Agder na južnem Norveškem ni mogoče izključiti in zato ni trdnih dokazov, na podlagi katerih bi se lahko odpravili kontrolno in nadzorno območje okrog prizadetega območja.
Article 53(3) of Directive 2006/88/EC provides that where the epizootic investigation confirms a significant likelihood that infection has occurred, the disease-free status of the Member State, zone or compartment shall be withdrawn, in accordance with the procedure under which that status was declared.
Člen 53(3) Direktive 2006/88/ES določa, da kadar epizootiološka preiskava potrjuje veliko verjetnost, da se je pojavila okužba, se v državi članici, na območju ali v predelu status brez bolezni prekliče v skladu s postopkom, na podlagi katerega je bil razglašen navedeni status.
According to the results of the epidemiological investigation carried out by Norway and the outcome of the discussions between the Norwegian National Veterinary Institute and the Community Reference Laboratory, the EFTA Surveillance Authority considers that the conditions of the provision for withdrawing the disease-free status of the affected area of Aust-Agder in the south of Norway are fulfilled.
Na podlagi rezultatov epidemiološke preiskave, ki jo je izvedla Norveška, ter rezultata razprav norveškega državnega veterinarskega inštituta in referenčnega laboratorija Skupnosti, Nadzorni organ Efte meni, da so izpolnjeni pogoji iz določbe za preklic statusa brez bolezni za okrožje Aust-Agder na južnem Norveškem.
Accordingly, Decision No 225/04/COL should be repealed.
V skladu s tem je treba Odločbo št. 225/04/COL razveljaviti.
The approved zones with regard to Bonamia ostreae and Marteilia refringens for Norway are listed in the Annex.
Odobrena območja na Norveškem glede bolezni Bonamia ostreae in Marteilia refringens so navedena v Prilogi.
Decision No 225/04/COL is hereby repealed.
Odločba št. 225/04/COL se razveljavi.
This Decision shall enter into force on 7 July 2010.
Ta odločba začne veljati 7. julija 2010.
Only the English text version of this Decision is authentic.
Besedilo te odločbe v angleškem jeziku je edino verodostojno.
OJ L 328, 24.11.2006, p. 14, and the EEA Supplement No 32, 17.6.2010, p. 1.
UL L 328, 24.11.2006, str. 14 ter Dopolnilo EGP št. 32, 17.6.2010, str. 1.
This Directive is not yet published in Norwegian.
Ta direktiva še ni objavljena v norveškem jeziku.
The entire coastline of Norway is an approved zone with regard to Marteilia refringens.
Odobreno območje v zvezi z boleznijo Marteilia refringens je celotna obala Norveške.
The entire coastline of Norway is an approved zone with regard to Bonamia ostreae with the exception of:
Odobreno območje v zvezi z boleznijo Bonamia ostreae je celotna obala Norveške razen:
the county of Aust-Agder in southern Norway.
okrožje Aust-Agder na južnem Norveškem.
No 416/10/COL
št. 416/10/COL
on the taxation of investment undertakings under the Liechtenstein Tax Act
o obdavčenju investicijskih družb po lihtenštajnskem zakonu o davku
(Liechtenstein)
(Lihtenštajn)
THE EFTA SURVEILLANCE AUTHORITY (‘THE AUTHORITY’),
NADZORNI ORGAN EFTE (V NADALJNJEM BESEDILU: NADZORNI ORGAN) JE –
HAVING REGARD to the Agreement on the European Economic Area (‘the EEA Agreement’), in particular to Articles 61 to 63 and Protocol 26,
OB UPOŠTEVANJU Sporazuma o Evropskem gospodarskem prostoru (v nadaljnjem besedilu: Sporazum EGP), ter zlasti členov 61 do 63 in Protokola 26,
HAVING REGARD to the Agreement between the EFTA States on the Establishment of a Surveillance Authority and a Court of Justice (‘the Surveillance and Court Agreement’), in particular to Article 24,
OB UPOŠTEVANJU Sporazuma med državami Efte o ustanovitvi nadzornega organa in sodišča (v nadaljnjem besedilu: Sporazum o nadzornem organu in sodišču), in zlasti člena 24,
HAVING REGARD to Protocol 3 to the Surveillance and Court Agreement (‘Protocol 3’), in particular to Article 1(2) of Part I and Articles 4(4), 6, 7(5) and 14 of Part II,
OB UPOŠTEVANJU Protokola 3 k Sporazumu o nadzornem organu in sodišču (v nadaljnjem besedilu: Protokol 3), in zlasti člena 1(2) dela I ter člena 4(4), člena 6, člena 7(5) in člena 14 dela II,
HAVING REGARD to the consolidated version of the Authority’s Decision No 195/04/COL of 14 July 2004 on the implementing provisions referred to under Article 27 of Part II of Protocol 3 (‘the Implementing Provisions Decision’) [1],
OB UPOŠTEVANJU prečiščene različice Odločbe Nadzornega organa št. 195/04/COL z dne 14. julija 2004 o izvedbenih določbah člena 27 dela II Protokola 3 (v nadaljnjem besedilu: Odločba o izvedbenih določbah [1],
HAVING called on interested parties to submit their comments pursuant to those provisions and having regard to their comments,
PO POZIVU vsem zainteresiranim stranem, naj predložijo svoje pripombe v skladu z navedenimi določbami, in ob upoštevanju teh pripomb,
By letter dated 14 March 2007, the Authority sent a request for information to the Liechtenstein authorities, inquiring about various tax derogations for certain types of company apparently available under the Liechtenstein Tax Act.
Nadzorni organ je z dopisom z dne 14. marca 2007 lihtenštajnskim organom poslal zahtevo po informacijah, v kateri je spraševal o različnih davčnih odstopanjih, ki so očitno na voljo za nekatere oblike družb v skladu z lihtenštajnskim zakonom o davku.
After various exchanges of correspondence, by letter dated 18 March 2009 the Authority informed the Liechtenstein authorities that it had decided to initiate the procedure laid down in Article 1(2) of Part I of Protocol 3 in respect of the taxation of investment undertakings.
Po izmenjavi različne korespondence je Nadzorni organ z dopisom z dne 18. marca 2009 obvestil lihtenštajnske organe o svoji odločitvi, da začne postopek iz člena 1(2) dela I Protokola 3 v zvezi z obdavčenjem investicijskih družb.
The Authority’s Decision No 149/09/COL to initiate the formal investigation procedure was published in the Official Journal of the European Union and the EEA Supplement to it, calling upon interested parties to submit comments [2].
Odločba Nadzornega organa št. 149/09/COL o začetku formalnega postopka preiskave je bila objavljena v Uradnem listu Evropske unije in Dopolnilu EGP k Uradnemu listu Evropske unije in je pozvala zainteresirane strani k oddaji pripomb [2].
The Authority received comments from interested parties.
Nadzorni organ je o tej zadevi prejel pripombe zainteresiranih strani.
By letter dated 26 January 2010 the Authority forwarded these to the Liechtenstein authorities, which were given the opportunity to respond.
Nadzorni organ jih je z dopisom z dne 26. januarja 2010 poslal lihtenštajnskim organom in jim dal priložnost, da nanje odgovorijo.
This was done by letter dated 17 March 2010.
Ti so odgovorili z dopisom z dne 17. marca 2010.
DESCRIPTION OF THE MEASURE INVESTIGATED
OPIS UKREPA V PREISKAVI
The investigation concerned the treatment of investment undertakings under the Liechtenstein Tax Act (Gesetz über die Landes-und Gemeindesteuern) [3], (‘the Tax Act’) between 1996 and 2006.
Preiskava je obravnavala investicijske družbe med letoma 1996 in 2006 po lihtenštajnskem zakonu o davku („Gesetz über die Landes-und Gemeindesteuern“) [3], (v nadaljnjem besedilu: zakon o davku).
Definition of investment undertakings
Opredelitev investicijskih družb
The 1996 Liechtenstein Act on Investment Undertakings (Gesetz über Investmentunternehmen) (the ‘Investment Undertakings Act’) defined investment undertakings as:
Lihtenštajnski zakon o investicijskih družbah iz leta 1996 („Gesetz über Investmentunternehmen“) (v nadaljnjem besedilu: zakon o investicijskih družbah) je investicijske družbe opredelil na naslednji način:
‘assets raised from the public following public advertising for the purpose of a collective capital investment which are invested and managed for the collective account of the individual investors usually according to the principle of risk-spreading’ [4].
„javna sredstva, zbrana na podlagi javnega oglaševanja za kolektivno kapitalsko naložbo, ki se naložijo in upravljajo za kolektivni račun posameznega vlagatelja, navadno po načelu razpršitve tveganj“ [4].
Under Liechtenstein law, an investment undertaking could choose the form of a collective trust, called an investment fund (Anlagefonds) [5], or opt for the legal form of an investment company (Anlagegesellschaft) [6].
Po lihtenštajnski zakonodaji si lahko investicijska družba izbere obliko skupnega skrbniškega sklada, ki se imenuje investicijski sklad („Anlagefonds“) [5], ali pa pravno obliko investicijske družbe („Anlagegesellschaft“) [6].
In the case of an investment fund, the management of the fund is carried out by a separate entity (referred to as the ‘fund direction’) [7].
Investicijski sklad upravlja ločen subjekt (t. i. uprava investicijskega sklada) [7].
In the case of an investment company, the management is undertaken by the investment company itself.
Investicijska družba za upravljanje poskrbi sama.
Unlike an investment fund, therefore, the investment company constitutes one single entity.
Investicijska družba je torej v nasprotju z investicijskim skladom en subjekt.
In both cases, the entities carrying out management functions undertake economic activities by providing services for a fee.
V obeh primerih subjekta, ki imata upravljavsko funkcijo, izvajata gospodarske dejavnosti, saj opravljata storitve v zameno za plačilo.
Regardless of the organisational form, the assets managed on behalf of investors must be differentiated from the own assets of the management company.
Ne glede na organizacijsko obliko je treba sredstva, ki se upravljajo v imenu vlagateljev, razlikovati od lastnih sredstev družbe za upravljanje.
In return for management services, a management company is paid a management fee, which becomes part of its own assets.
Družba za upravljanje v zameno za upravljavske storitve dobi upravljavsko provizijo, ki postane del lastnih sredstev.
In addition, performance or other fees may be levied [8] which would also form part of a management company’s own assets.
Poleg tega se lahko zaračuna provizija za uspešnost ali druge provizije [8], ki tudi postanejo del lastnih sredstev družbe za upravljanje.
TAX PROVISIONS APPLICABLE TO INVESTMENT UNDERTAKINGS IN LIECHTENSTEIN
DAVČNE DOLOČBE, KI SE UPORABLJAJO ZA INVESTICIJSKE DRUŽBE V LIHTENŠTAJNU
Liechtenstein corporate taxation
Obdavčevanje podjetij v Lihtenštajnu
Sections 73 to 81 in Part 4, heading A, ‘Company Taxes’ (Die Gesellschaftssteuern) of the Tax Act provide for two forms of corporate taxation [9]:A business income tax (Ertragssteuer), which according to Section 77 of the Tax Act is assessed on revenues less eligible expenditure (including write-offs).
Členi 73 do 81 naslova A, del 4, „Obdavčevanje podjetij“ („Die Gesellschaftssteuern“), zakona o davku določa dve obliki obdavčevanja podjetij [9]: Davek od dohodkov pravnih oseb („Ertragssteuer“), ki se v skladu s členom 77 zakona o davku izračuna tako, da se od dohodkov odštejejo upravičeni odhodki (vključno z amortizacijo).
The income tax rate depends on the ratio of net income to taxable capital and ranges between 7,5 % and 15 % [10].
Stopnja davka od dohodkov je odvisna od razmerja med neto dohodkom in obdavčljivim kapitalom in lahko znaša od 7,5 % do 15 % [10].
This rate may be increased by between 1 and 5 percentage points depending on the ratio between dividends and taxable capital.
Ta stopnja se lahko poviša za 1 do 5 odstotnih točk, odvisno od razmerja med dividendami in obdavčljivim kapitalom.
The maximum income tax is therefore 20 %.
Davek od dohodkov lahko torej znaša največ 20 %.
A capital tax (Kapitalsteuer), which according to Section 76 of the Tax Act is levied against paid-up capital stock, joint stock, share capital, and initial capital as well as the reserves of a company constituting company equity.
Davek na kapital („Kapitalsteuer“) se po členu 76 določi glede na izplačani delniški kapital, skupni kapital delniške družbe, delniški kapital in začetni kapital ter kapitalske rezerve družbe, ki sestavljajo kapital družbe.
Taxes are assessed at the end of the company’s financial year (generally on 31 December).
Davki se določijo ob koncu finančnega leta družbe (praviloma 31. decembra).
The rate is 2 ‰ (0,2 %).
Trenutno znaša stopnja 2 ‰ (0,2 %).
According to Section 73 of the Tax Act, legal persons operating commercial businesses in Liechtenstein pay both income and capital tax.
V skladu s členom 73 zakona o davku pravne osebe, ki opravljajo komercialne dejavnosti v Lihtenštajnu plačujejo davek od dohodka in davek na kapital.
The same applies to foreign companies operating a branch in Liechtenstein.
Enako velja za tuje družbe s podružnico v Lihtenštajnu.
Coupon tax
davek na obresti od kuponskih obveznic
Part 5 of the Tax Act provides for a coupon tax.
Del 5 zakona o davku določa davek na obresti od kuponskih obveznic.
According to Section 88(a)(1) of the Tax Act, Liechtenstein levies a tax on the coupons of securities (or documents equal to securities) issued by ‘a national’.
V skladu s členom 88a(1) zakona o davku Lihtenštajn davek na obresti od kuponskih obveznic obračuna na kuponskih obveznicah (ali dokumentih, enakih obveznicam), ki jih izda „nacionalna družba“.
This notion includes any person who has a place of residence, domicile or statutory seat in Liechtenstein.
Ta pojem zajema vse, ki imajo svoje stalno prebivališče, domicil ali statutarni sedež v Lihtenštajnu.
It also covers undertakings that are registered on the public register of Liechtenstein.
Vključuje tudi družbe, registrirane v javnem registru Lihtenštajna.
The coupon tax applies to companies the capital of which is divided into shares, for example, companies limited by shares and companies with limited liability [11].
Davek na obresti od kuponskih obveznic morajo plačati družbe, katerih kapital je razdeljen na deleže, na primer delniške družbe in družbe z omejeno odgovornostjo [11].
It is levied at the rate of 4 % on any distribution of dividends or profit shares (including distributions in the form of shares).
Obračuna se po 4-odstotni stopnji od razdeljenih dividend ali deleža dobička (vključno z izplačili v obliki delnic).
The taxation of investment undertakings between 1996 and 2006
Obdavčenje investicijskih družb med 1996 in 2006
The taxation of the assets managed on behalf of investors
Obdavčenje sredstev, ki se upravljajo v imenu vlagateljev
From 1996, with the introduction of Section 84(5) of the Tax Act, the assets managed by investment undertakings were taxed in the same way as domiciliary companies (Sitzgesellschaften) [12].
Od leta 1996 so bila z uvedbo člena 84(5) zakona o davku sredstva, ki jih upravljajo investicijske družbe, obdavčena enako kot domače družbe, ki večinoma poslujejo v tujini („Sitzgesellschaften“) [12].
As domiciliary companies did not pay income tax, the assets managed by investment undertakings were also not subject to income tax.
Ker domače družbe, ki večinoma poslujejo v tujini, niso plačevale davka od dohodkov, niso plačevala davka od dohodkov tudi od sredstev, ki so jih upravljale.
According to Section 84(1) of the Tax Act, only a reduced capital tax of 1 ‰ (instead of 2 ‰) was applied [13].
Po členu 84(1) zakona o davku se je uporabljala zmanjšana stopnja davka na kapital v višini 1 ‰ (namesto 2 ‰) [13].
This rate was further reduced to 0,4 ‰ for the capital of investment undertakings exceeding CHF 2 million in accordance with Section 85(2) of the Tax Act [14].
Stopnja se je nadalje zmanjšala na 0,4 ‰ za kapital investicijskih družb, ki presega 2 milijona CHF v skladu s členom 85(2) zakona o davku [14].
The taxation of the management side of investment funds
Obdavčenje upravljavskega dela investicijskih skladov
Like any other company operating in Liechtenstein, the fund direction of an investment fund (the management side of the fund) was fully liable to pay income, capital as well as coupon tax on its own income and capital.
Kot vse druge družbe, ki poslujejo v Lihtenštajnu, je morala uprava investicijskega sklada (upravljavski del sklada) v celoti plačati davek od dohodkov in davek na kapital ter davek na obresti od kuponskih obveznic v zvezi z lastnim dohodkom in kapitalom.
The fund direction had also been fully taxed prior to 1996 in accordance with Section 84(2) of the Tax Act 1961.
Uprava sklada je bila prav tako v celoti obdavčena pred letom 1996 v skladu s členom 84(2) zakona o davku iz leta 1961.
The taxation of the management side of investment companies
Obdavčenje upravljavskega dela investicijskih družb
In the case of investment companies, however, no distinction was made for tax purposes between the management company’s own assets and the managed assets.
Pri obdavčevanju investicijskih družb ni bilo razlikovanja med lastnimi sredstvi upravljavskega podjetja in upravljanimi sredstvi.
The investment companies’ own assets were therefore also subject to the rules applying to domiciliary companies, in accordance with Section 84(2) of the Tax Act.
Za lastna sredstva investicijskih družb so zato veljala tudi pravila, ki so se uporabljala za domače družbe v skladu s členom 84(2) zakona o davku. To je pomenilo, da tako za dejavnosti upravljanja kot za upravljana sredstva ni bil zaračunan davek od dohodka.
This meant that no income tax was levied on the management activities or on the managed assets; capital tax was payable at 1 ‰ instead of 2 ‰ (and reduced further for any capital exceeding CHF 2 million in accordance with Section 85(2) of the Tax Act); and no coupon tax was levied.
Stopnja davka na kapital je znašala 1 ‰ namesto 2 ‰ (še dodatno pa se je zmanjšala za kapital, večji od 2 milijonov CHF v skladu s členom 85(2) zakona o davku). Prav tako ni bil zaračunan davek na obresti od kuponskih obveznic.
The tax situation from 1996 to 2006 for investment funds and investment companies can be illustrated as follows:
Davčni položaj investicijskih skladov in investicijskih družb med leti 1996 in 2006 je mogoče ponazoriti takole:
Investment Fund
Investicijski sklad
Fund direction (own assets)
uprava sklada (lastna sredstva)
Income tax
davek od dohodkov
Full capital tax
davek na kapital v celoti
Fund capital, i.e. managed assets
kapital sklada, tj. upravljana sredstva
No income tax
brez davka od dohodkov
Reduced capital tax
zmanjšani davek na kapital
No coupon tax
brez davka na obresti od kuponskih obveznic
Investment Company
Investicijska družba
Own assets of the management company
lastna sredstva družbe za upravljanje
The situation from 2006 until today
Stanje od leta 2006 do danes
Legislation introduced in 2005 required investment companies to record and hold their own assets and managed assets separately.
Po zakonodaji, uvedeni leta 2005, morajo investicijske družbe ločeno evidentirati in hraniti lastna ter upravljana sredstva.
The Tax Act was also revised and a new Section 73(f) was inserted, which required both the fund direction of an investment fund and investment companies to pay income, capital, and coupon taxes in relation to their own assets [16].
Pregledali so tudi zakon o davku in vstavili nov člen 73(f), ki določa, da morajo uprava investicijskega sklada ter investicijske družbe plačevati davek od dohodkov, davek na kapital in davek na obresti od kuponskih obveznic, ki so sorazmerni z njihovimi lastnimi sredstvi [16].