commiss decis februari financ shipbuild denmark danish text authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof accord articl notic parti concern submit comment regard comment ministri busi industri denmark publish report studi carri cooper amp lybrand state financ vessel denmark period occur case basi inflat price meant aid ceil applic period exceed purpos open procedur investig maximum aid ceil establish commiss abovement period compli cooper amp lybrand report clarifi subsidiari model call mother daughter compani model sell vessel explain report principl mother daughter compani model danish shipyard creat daughter compani daughter compani danish shipown entitl receiv aid accord danish home credit scheme daughter compani sell vessel cash real purchas real purchas financ vessel set subsidiari daughter compani reduc price inter alia amount aid obtain financ vessel daughter compani mother daughter arrang effect transform credit term danish eu shipown cash payment made payment shipown countri contract mother daughter compani model price vessel occur price paid daughter compani mother compani shipyard price paid real shipown daughter compani articl council direct eec articl council direct eec requir member state send current report shipbuild ship convers contract end month month sign contract detail financi contract support report inform contract price aid grant requir basi inform commun commiss commiss draw annual report state inter alia level contract relat aid oper aid grant member state danish govern report commiss conclus contract notifi price yard daughter compani price paid real owner commiss posit establish aid ceil compli descript danish level state aid annual report drawn commiss period question turn fulli correct compar report member state juli commiss decid initi procedur laid articl treati respect aid grant denmark contract call mother daughter compani model creation subsidiari sell vessel emploi period commiss focus possess complet inform price paid contract aid grant price paid daughter compani yard price paid shipown daughter compani connect commiss emphas check contract cumul aid scheme place time lead singl case aid ceil breach purpos commiss danish scheme appli tax scheme period advanc payment letter juli commiss inform danish govern decis initi procedur provid articl treati member state interest parti inform public letter offici journal european commun invit submit comment ii procedur commiss receiv comment danish govern associ danish shipbuild danish govern submit repli commiss decis open procedur septemb basi repli danish govern commiss request inform letter octob danish govern answer commiss request inform letter date novemb inform govern forward commiss letter ministri busi industri cooper lybrand novemb govern forward novemb report conduct work group tax financ relat vessel built amp yard meet commiss decemb danish author distribut note date decemb danish author transmit inform commiss date decemb comment receiv danish govern direct relev examin procedur consist inform price relat construct vessel price paid daughter compani yard price paid owner daughter compani aid grant specif contract danish author inform commiss aid scheme appli specif contract includ inform specif tax advantag applic shipbuild sector gener tax advantag industri commiss inform aid expect factual impact danish treasuri addit danish author inform commiss ten case loan grant prior dealt separ subsequ analysi danish govern provid inform gener charact nation administr aid scheme comment associ danish shipbuild transmit commiss septemb comment consist report carri panel danish lawyer nation administr aid scheme applic shipbuild sector period danish author remark comment procedur open commiss focus denmark complianc aid ceil inform includ commiss examin relat exclus purpos comment danish author associ danish shipbuild nation administr aid scheme includ commiss analysi extent consid direct relev fulfil purpos examin inform receiv danish author clear daughter compani model contract remain case intend daughter compani model plan carri examin cover case daughter compani model sell vessel initi case iii initi procedur commiss note indic vessel daughter compani model financ basi inflat price price commiss inform daughter compani paid yard main issu determin real price vessel establish total amount aid conform ceil place extent commiss agre danish author price paid daughter compani shipyard reflect real price ship concern price arm length price market test price establish yard order transform credit scheme aid cash price client eu benefit sens price contract repres real price vessel commiss accept price paid real shipown daughter compani set contract parti consid real contract price vessel amount paid owner valid basi calcul payment aid base consid price set contract purpos direct eec eec aid shipbuild examin case commiss set examin case total aid approv danish author singl contract basi price paid real owner daughter compani note purpos daughter compani creat danish shipown sell vessel cash real client obtain aid amount owner daughter compani respect act shipown examin contract shipyard daughter compani owner clear usual respons owner pass real owner iv danish govern provid inform scheme applic period danish govern provid inform enabl commiss identifi aid scheme specif contract aid percentag grant period investig gener financ scheme applic home market scheme index financ scheme tax scheme specif shipbuild sector index financ scheme danish author inform commiss owner choos financ scheme scheme appli case investig index financ scheme index financ scheme case commiss approv index financ scheme letter april januari march pursuant provis direct eec aid shipbuild scheme approv pursuant eec aid shipbuild commiss letter june august basi inform applic index financ scheme contract commiss establish aid grant accord commiss approv index financ scheme appli danish govern convert financ scheme interest scheme condit receiv aid cash grant similar scheme member state ii fund compani start account invest fund tax scheme applic end consist possibl monei compani start account invest fund bui share vessel monei invest benefit scheme contract vessel sign end deliv end privat person compani monei invest bui ship share tax monei invest commiss establish aid element scheme calcul scheme contract iii advanc write tax scheme applic contract conclud decemb vessel deliv end buyer vessel start write vessel conclus contract buyer ship main busi commiss approv aid establish calcul advanc write contract iv scheme limit partnership tax exempt rule allow write small privat investor invest shipbuild bui share limit partnership initi tax credit gener consid state aid scheme appli shipbuild sector commiss approv scheme letter septemb decid scheme calcul ceil letter june decis revis scheme calcul ceil scheme contract refer descript establish tax scheme applic sector period scheme approv commiss aid element establish scheme count ceil procedur danish author inform commiss gener possibl denmark compani benefit corpor taxat advantag compani establish daughter compani offset loss daughter compani tax liabil mother compani possibl gener measur regard state aid interest present case gener tax rule specif benefit shipbuild sector yard creat daughter compani case element indirect state aid distort competit inform receiv danish author gener opportun benefit treatment loss corpor taxat rule mother daughter compani model yard includ examin present case advantag opportun vi repli date septemb open procedur danish author drew attent fact case examin real owner pre paid larg proport cost ship subsequ submiss date novemb danish author contract amount substanti amount paid advanc danish author prepay price adjust prepay made insist incent shipown pai advanc occur higher interest place monei long term bond yard monei financ construct vessel benefit monei respect bond deposit owner secur yard fulfil oblig construct vessel danish govern claim shipown pai todai date sign contract futur prepay price futur prepay price equal price paid vessel owner wish pai cash deliveri vessel construct owner pai advanc benefit higher interest rate accumul construct time obtain bond danish author insist interest benefit ad advanc paid price calcul aid elig contract commiss accept argument put forward danish author prepay mention earlier basi commiss establish real price vessel concern price set contract real owner daughter compani recal direct eec direct eec aid shipbuild aid ceil set refer contract aid term turn defin price laid contract aid contract daughter compani owner presum freeli negoti contract independ entiti price set sole basi calcul aid allow note financ arrang put place regard construct purchas vessel vari enorm thing standard formula industri financ packag put vessel influenc price vessel factor competit yard question interest rate price raw materi labour price appear contract owner daughter compani consid price laid contract purpos direct eec direct eec aid shipbuild subsequ adjust account element influenc price vessel danish author drawn attent budgetari consequ aid scheme oper time tax scheme exclud total ecu million decemb aid approv period actual amount aid paid ecu million decemb danish author argu element account calcul level aid contract commiss reject content act make aid distort competit particular financ danish aid scheme ultim cost danish treasuri scheme consider lower budget ow larg unexpect interest rate inflat diminish effect aid approv contract determin cost construct yard discount aid estim base assumpt time futur interest rate inflat fact ultim cost danish treasuri anticip potenti distort effect vii inform associ danish shipbuild relat close nation administr aid scheme applic period specif opportun grant aid credit facil direct grant construct yard report lawyer attach letter commiss contribut parallel danish debat nation administr aid shipbuild period relev commiss inquiri aid ceil compli viii recal period consider total contract conclud denmark total number case daughter compani model case subject examin danish author repli open procedur inform commiss case conclud financ index loan owner sweden norwai danish govern notifi index loan scheme commiss septemb commiss approv scheme april breach aid ceil recal implement direct eec ceil state aid grant shipbuild sector contract conclud entri forc direct subject present procedur state danish author appli aid option form index loan approv aid scheme commiss commiss approv scheme stage aid ceil time formal investig case ix time procedur commenc commiss thought case mother daughter model procedur transpir case involv mother daughter model creat shipyard concern essenti mean transform credit scheme cash payment enabl eu owner benefit scheme eu nation basi complet inform provid danish author commiss ascertain case total aid scheme appli contract total aid provid favour state earlier aid scheme time approv commiss aid calcul ceil aid assign order assess aid ceil exceed amount paid contract compar allow major difficulti ascertain real price vessel concern reason outlin commiss accept danish govern content price set contract owner daughter compani price basi calcul aid level accord direct eec direct eec aid shipbuild reason state price contract adjust account prepay basi commiss conclud case aid ceil forc time contract sign observ case aggreg aid scheme appli individu case prevail ceil case vessel built odens staalskibsværft shipbuild no aggreg aid scheme exceed ceil total amount aid commiss consid incompat direct eec aid shipbuild common market dkr million ecu januari regard abovement case adopt decis articl danish govern adequ fulfil oblig articl direct eec direct eec aid shipbuild inform commiss price paid real shipown case examin articl aid measur adopt contract shipbuild no odens staalskibsværft exceed ceil set direct eec aid shipbuild declar unlaw grant breach provis direct incompat common market articl denmark requir shipyard concern repai excess aid grant amount dkr million ecu januari accord procedur provis laid danish law relat interest arrear debt state interest run date unlaw aid paid interest rate equal refer rate time calcul net grant equival type aid denmark articl denmark inform commiss month date notif decis measur compli therewith articl decis address kingdom denmark brussel februari commiss karel van miert member commiss oj oj sg oj sg sg sg sg sg danish govern inform commiss decis letter april sg danish govern inform commiss decis letter septemb sg letter june sg sg april sg