commiss decis octob state aid state aid hellen shipyard notifi document number greek version authent text eea relev ec commiss european commun regard treati establish european commun subparagraph articl thereof regard agreement european econom area articl thereof regard council regul ec june establish rule aid shipbuild call interest parti submit comment pursuant provis cite regard comment procedur letter date juli greec notifi commiss pursuant council regul ec june establish rule aid shipbuild number state aid measur intend hellen shipyard ae notif receiv seri commun greek author commiss awar measur issu letter date june reproduc authent languag offici journal european commun commiss notifi hellen republ decis approv state aid measur concern initi procedur laid articl ec treati measur contest measur measur provid articl act regul issu relat hellen shipyard greek author repli commiss letter date septemb decemb commiss receiv comment interest parti letter date septemb comment commun greek author letter date octob letter date septemb greek author request extens deadlin respond comment interest parti inform commiss greek govern contempl abolit contest state aid measur law request extens deadlin respons commiss investig procedur month letter date januari greek author inform commiss greek govern decid abolish contest measur request month extens implement decis letter date april greek author inform commiss abolit measur includ forthcom draft act letter date august commiss request greek author provid text law abolish measur date expect vote greek parliament letter date octob greek author repli commiss contest measur abolish law letter date novemb commiss reiter request greek author text law abolish measur date adopt letter date januari greek author inform commiss abolit measur includ act due pass greek parliament februari letter date march commiss request greec provid inform progress abolit measur greek author inform commiss letter date april abolit measur intent quot administr quot commiss opportun remind greek author commit abolish contest measur occas meet commiss offici greek author place athen june commiss inform greek author step abolish contest measur reason commiss decid proce close neg decis procedur laid articl ec treati respect contest measur ii detail descript aid legal basi act hereinaft refer act regul inter alia issu hellen shipyard act adopt august publish volum greek govern gazett septemb aid approv letter date june commiss authoris aid amount eur million greec intend grant accord referenc act encourag employe involv civil shipbuild voluntarili leav hellen shipyard commiss found aid fulfil condit articl regul εc compat common market articl procedur treati time commiss decid initi procedur articl ec treati accord articl council regul ec march lai detail rule applic articl ec treati invit interest parti submit comment commiss express doubt compat aid measur regul ec regard applic regul ec assess contest measur commiss note regard notifi aid contest measur provis act enter forc septemb extent measur meantim suspend consid unlaw aid regul ec expir decemb concern commiss notic determin applic rule assess unlaw state aid interest consist practic commiss appli regul present case case commiss reach conclus measur assess basi current framework state aid shipbuild articl act articl act state cover compani futur pension oblig greek law retir person receiv lump sum equal sum receiv person made redund provis state cover share cost proport amount year employe work hellen shipyard sold sharehold relev amount disburs compani request provis ensur part lump sum paid state year employe emploi time transfer sharehold retir articl act articl act concern item balanc sheet compani decemb quot tax free reserv quot quot special reserv quot quot amount intend increas share capit quot reliev tax duti oblig set loss previou year greek author tax rate capitalis tax exempt reserv limit liabil compani share stock exchang mean net tax exempt reserv loss impli tax amount involv greek author tax free reserv amount eur million relev tax amount eur million iii comment hellen republ letter date septemb greek author submit observ regard contest measur greek author explain accord greek legisl special reserv capitalis tax separ rate extent time establish tax rate state commiss amount issu eur eur greek author note capitalis amount intend increas capit subject capit duti tax state commiss letter relev amount eur eur million calcul commiss open investig procedur greek author conclud total amount eur million mention commiss letter regard tax free reserv correct eur million basi calcul capitalis tax free reserv eur eur special reserv eur sale real estat eur eur eur reserv tax establish share par tax sharehold deposit eur eur total eur notwithstand object calcul relev amount greek author inform commiss letter greek govern contempl abolit provis law commiss initi procedur articl ec treati letter date januari greek author formal inform commiss decis abolish provis inform confirm subsequ commun greek author date april octob januari april commiss impli greek author agre conclus contest measur constitut incompat state aid iv comment interest parti septemb commiss receiv comment repres elefsi shipbuild industri enterpris direct competitor hellen shipyard respons commiss notic invit interest parti submit comment aid respect commiss initi procedur issu comment commun hellen republ letter date octob elefsi shipyard consid find commiss warrant investig regard precis natur hellen shipyard capit reserv precis level capac hellen shipyard naval commerci shipbuild ship repair work regard capit reserv subject commiss investig case elefsi shipyard note commiss investig tax rate normal greek legisl applic capit reserv offset loss law enact equat assess aid articl ec treati aid grant member state state resourc form whatsoev distort threaten distort competit favour undertak product good affect trade member state incompat common market pursuant establish case law european court criterion trade affect met recipi firm carri econom activ involv trade member state commiss note shipbuild econom activ involv trade member state aid question fall scope articl ec treati articl ec treati categori aid decis council act qualifi major propos commiss consid compat common market commiss note council adopt basi regul commiss notic determin applic rule assess unlaw state aid compat unlaw state aid common market assess basi instrument forc time aid grant notic appli case interest consist approach commiss appli regul present case assess alter base current framework state aid shipbuild commiss note regul ec quot shipbuild quot mean build propel seago commerci vessel commiss note hellen shipyard build ship undertak cover regul ec commiss assess contest measur regul ec distort threaten distort competit civil shipbuild civil ship repair state greek author shipbuild activ hellen shipyard concern militari activ consequ state aid fall articl act articl act provis state cover share cost retir sum proport amount year employe work hellen shipyard sold compar amount year work provis ensur lump sum paid retir employe paid state year employe emploi retir inform provid greek author maximum cost measur eur million due fact worker stai retir estim cost eur million greek author state employe concern measur involv militari shipbuild estim total amount state aid measur civil shipbuild ship repair approxim eur million employe concern measur commiss consid measur constitut oper aid allevi compani normal cost oper activ regul ec provid aid commiss conclud aid compat common market commiss note refer ratio regard militari civil shipbuild ship repair base statement greek author ratio subject formal investig procedur case present decis aspect prejudic subsequ conclus commiss arriv context proceed articl act provis compani transfer number tax exempt reserv share capit pai statutori tax set loss previou year exempt tax duti oblig set loss previou year articl act concern item balanc sheet compani quot tax free reserv quot quot special reserv quot quot amount intend increas share capit quot greek author tax rate capitalis tax exempt reserv limit liabil compani share stock exchang mean net tax exempt reserv loss impli tax amount involv greek author tax free reserv amount eur million relev tax amount eur million normal greek tax rule propos tax exempt net concern reserv loss benefit compani regard state aid regul ec provid aid commiss conclud provis compat common market tax free reserv greek author exempt tax part tax free reserv hellen shipyard approxim eur million deem creat profit equal amount written compani reason act partial privatis reform compani previou commiss decis debt write base provid write exist debt compani provis appli debt mention book debt creat januari greek author claim hellen shipyard offset januari loss past year tax exempt reserv result tax concern eur million gener tax liabil written basi act claim compani put forward regularis document base provis advantag compani obtain offset tax exempt reserv loss previou year eur eur million open formal investig procedur commiss note problem argument relev commiss decis state exact amount debt write authoris hellen shipyard commiss authoris debt write base commiss decis maximum amount state decis exceed decis state debt written refer period end commiss basi inform conclud propos tax exempt net concern reserv loss eur million benefit compani constitut state aid regul ec provid aid commiss conclud declar compat common market half quot tax free reserv quot approxim eur million greek author claim origin hotel sale tax accord law time tax exempt eur million relat amount appear aid compat common market commiss formal investig procedur refer item eur million concern issu share par greek author inform commiss contribut intend increas capit tax special reserv special reserv eur million greek author claim tax accord tax law forc time creation tax advantag gain net loss commiss note amount special reserv includ balanc sheet reserv commiss assum net amount loss tax normal tax law tax exempt relat extraordinari reserv eur conclud aid ground commiss find incompat common market amount intend increas share capit quot amount intend increas share capit quot eur million repres greek author amount greek state paid compens hellen shipyard cost reduc staff person greek author amount exempt tax net amount loss extent compani tax referenc amount commiss conclud aid amount eur million form tax exempt net amount involv loss compat common market loss tax exempt purpos commiss note articl act authoris loss account purpos limit time open investig procedur case commiss request inform element hellen shipyard advantag compar normal greek tax law greek author provid relev inform fact greec repeatedli state commiss commit abolish articl act entireti suffici evid measur consid state aid incompat common market gener commiss assess contest measur letter hellen republ date june affect inform provid greec greec appear agre commiss analysi incompat contest measur common market reason repeatedli commit repeal contest measur law vi complaint alleg aid hellen shipyard commiss receiv formal complaint alleg state aid greek govern grant hellen shipyard alleg contain complaint investig commiss note present decis prejudg outcom investig undertak regard alleg state aid hellen shipyard regard complain claim calcul amount aid grant articl act commiss note devoid purpos present decis order abolit provis vii conclus greek author implicitli agre commiss assess conclud contest measur constitut state aid incompat treati commit greek author abolish provis introduc relev amend act greek parliament date commiss close proceed open letter june adopt decis order hellen republ repeal measur recov aid grant basi commiss wish emphas measur abolish substanc elimin element state aid entail extent benefit grant hellen shipyard articl articl act deriv legal instrument greec ensur equal repeal aid grant basi recov beneficiari greek author commiss aid grant contest provis commiss wish draw attent fact aid amount disburs contest provis recov full delai articl council regul ec commiss neg decis time limit refer articl expir basi inform inform provid greek author alter commiss find contest provis result state aid incompat common market commiss close investig procedur open june respect measur hellen shipyard exempt tax accord articl act state cover part futur pension cost employe link civil shipbuild accord articl measur constitut state aid compat regul ec common market adopt decis articl articl articl act constitut state aid hellen shipyard ae incompat common market aid implement articl event state aid disburs hellen shipyard ae provis refer articl decis greec measur recov aid case recoveri effect delai accord procedur nation law provid effect implement decis sum recov bear interest period run date put dispos beneficiari actual recoveri interest calcul conform provis laid chapter commiss regul ec greec end aid measur cancel payment outstand aid effect date notif decis articl greec inform commiss month notif decis measur compli articl decis address hellen republ brussel octob commiss mario monti member commiss oj oj sg oj sg oj oj oj frameworkoj letter greek author request extens deadlin full respons month due quot sensit complex serious quot matter articl act note applic current framework alter final outcom proceed regul ec provid oper aid case oj paragraph memorandum submit commiss complain claim total amount tax save hellen shipyard basi contest provis approxim eur million recent submiss complain note amount aid articl act higher eur million tax benefit hellen shipyard obtain articl act calcul eur million offset capit reserv eur million eur million capit reserv eur million eur million eur million subject opinion greek tax expert amount equal amount capit reserv eur million oj