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Decree Law No. 94/2018


Publication: Republic Diary No. 219/2018, Series I of 2018-11-14
  • Issuer: Presidency of the Council of Ministers
  • Diploma Type: Decree Law
  • Number: 94/2018
  • Pages: 5297 - 5300

Summary in plain english

What is it?

This decree-law creates the Council of Financial Guarantees to Exports and Investment, which will help the Government decide on financial operations regarding the exports and foreign investment of Portuguese companies.

What is going to change? The Council of Financial Guarantees to Exports and Investment is created

This council helps the Government decide on financial guarantees granted by the State to loans and insurances related to the exports or investments made abroad by Portuguese companies.

The council performs functions related to the State’s financial guarantees

Concerning the matters related with financial guarantees granted by the State to loans and insurances for the exports and foreign investment, the Council of Financial Guarantees to Exports and Investment has various functions:

    • suggest, to the Government, the general lines of the policies regarding financial guarantees granted by the State
    • deliver opinions on certain financial operations
    • deliver an opinion on the contracts between the State and the Portuguese companies
    • assist on the monitorization of the management of the guarantees and insurance guarantee promises granted by the State
    • disclose the available credit and insurance supports to the Portuguese companies
    • deliver opinions on general matters
    • be heard on matters discussed on international forums regarding the foreign trade policy of Portugal.
The council’s membership is diverse and reflects the nature of its mission

The following are the members of the Council of Financial Guarantees to Exports and Investment:

    • the chairperson
    • a representative of the government member responsible for the foreign affairs area
    • a representative of the government member responsible for the finances area
    • a representative of the government member responsible for the economy area
    • a representative of the government member responsible for the agriculture area
    • a representative of the General-Directorate of Treasury and Finances
    • a representative of the Portuguese Agency for the Foreign Investment and Trade (AICEP)
    • a representative of the Instituto de Apoio às Pequenas e Médias Empresas e à Inovação - Agência para a Competitividade e Inovação, I.P. (IAPMEI) (Small and Medium-Sized Enterprises and Innovation Support Institute - Agency for the Competitiveness and Inovation).

The members of the Council of Financial Guarantees to Exports and Investment are not paid for their membership on this government’s advisory body.

What advantages does it bring?

This decree-law aims to create a body which advises and assists the Government on matters related to the support to credit or insurance operations to the exports and investment. The broad composition of the Council of Financial Guarantees to Exports and Investment allows it to articulate its action with the Government’s policies and with the European Union and Organisation for Economic Co-operation and Development’s guidelines.

When does it enter into force?

This decree-law enters into force on 1 January 2019.

Original Version

LEGAL TRANSLATOR

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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.