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Decree Law No. 107/2020


Publication: Republic Diary No. 253/2021, Series I of 2020-12-31
  • Issuer: Presidency of the Council of Ministers
  • Diploma Type: Decree Law
  • Number: 107/2020
  • Pages: 3 - 4

Summary in plain english

What is it?

This decree-law establishes exceptional measures to protect the credits of families, companies, private social solidarity institutions and other social economy entities, as well as a special State guarantee scheme in the context of the COVID-19 pandemic.

Given the public health emergency of international scope, declared by the World Health Organization on 30 January 2020, as well as the classification, on 11 March 2020, of the COVID-19 disease as a pandemic, the Government has been approving a set of extraordinary and urgent measures in several matters.

What is going to change?

This decree-law allows new adhesions to support measures to protect the credits of families and companies until 31 March 2021 and for a moratorium period (i.e. postponement of payment of a debt) of up to nine months from the date of accession.

What advantages does it bring?

This decree-law allows families and companies to manage their credit liabilities, protecting fundamental aspects such as housing or the functioning of the economy.

When does it enter into force?

This decree-law enters into force on the day following its publication and takes effect from 1 January 2021.

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.