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Decree Law No. 31/2018


Publication: Republic Diary No. 87/2018, Series I of 2018-05-07
  • Issuer: Presidency of the Council of Ministers
  • Diploma Type: Decree Law
  • Number: 31/2018
  • Pages: 1834 - 1835

Summary in plain english

What is it?

This decree-law defines new rules for the Support System for Restoring Competitiveness and Productive Capacity.

The Support System for Restoring Competitiveness and Productive Capacity was created in November 2017 to help companies directly affected by the fires of 15 October 2017 in the North and Central regions to enable them to restart their business.

What will change?

There will be some changes to rules on the:

  • amount of funds to be granted
  • obligations of companies benefiting from these funds
  • companies that can benefit from these funds.
Some rules on how the funds are granted will change

Small or medium-sized enterprises (SMEs) will be repaid 85% of their investment expenses.

If the company is not an SME, the expenditures will be funded as follows:

  • 85% of investments that were up to 235,000 euros
  • 25% for the part of the investments that were above 235,000 euros.
The companies benefitting from these funds must have insurance

In order to benefit from these funds, companies must have insurance that covers damages and losses caused by fires and other natural disasters on equipment, facilities and other goods funded by the Support System for Restoring Competitiveness and Productive Capacity.

Companies under the simplified scheme can also benefit from these funds

Companies that do not have organized accounts, because they are not legally obliged to do so, can also request this support.

What are its benefits?

This decree-law is intended to make the adjustments considered necessary with the application of the Support System for Restoring Competitiveness and Productive Capacity.

When does it come into effect?

This decree-law comes into effect the day after being published.

Original Version

LEGAL TRANSLATOR

  • Legal translator is the translation of texts within the field of law

CONSOLIDATED LEGISLATION

Legislative consolidation integrates the various amendments and rectifications made into an original legal diploma in order to make its consultation more accessible to the citizen.