Brussels, 04/12/2013 (Agence Europe) - On 29 November 2013, the European Commission launched a public consultation. This consultation will continue until 21 February 2014 and will focus on the new regulation involving de minimis aid for the fisheries and aquaculture sectors. De minimis aid is state aid which, below a certain threshold, does not have to be notified to the European Commission for approval. The current regulation expires at the end of this year.
Under the current regulation (875/2007), the total amount of de minimis aid granted to a single company active in the fisheries and aquaculture sector must not exceed €30,000 per recipient over a period of three tax years or a total amount established per member state representing 2.5% of the annual fisheries and aquaculture output.
In the text submitted for consultation, the Commission is proposing to maintain the €30,000 threshold but suggests a downward revision in the 2.5% figure for annual output in the sector.
The new text also provides for aid consisting of loans to be considered as transparent de minimis aid: - if the loan is underwritten by securities covering at least 50% of its amount, and either does not exceed €150,000, and is agreed to for a maximum period of five years, or does not exceed €75,000 and is agreed for a maximum period of ten years. (LC/transl.fl)