The Great Brexit Debate dentons.com Introduction The UK is now counting down to the 23 June 2016 referendum on whether to stay in or leave the European Union. Dentons summarises the background to this momentous choice, and takes a deeper look at some of the legal issues involved in some key areas that would be impacted by a vote to leave the EU.
The Official Journal of the European Union of July 31, 2014, published the European Commission Guidelines establishing the conditions under which state aid for rescuing and restructuring non-financial undertakings in difficulty can be considered compatible with the domestic market. The Commission has been applying these Guidelines since August
Introduction: the New Guidelines in the Context of the State Aid Modernization Program
On 1 August, new guidelines came into force for Member States to use in assessing whether support measures to rescue and restructure firms in difficulty are compatible with State aid rules.
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DURC: new system officially started
The new system of internal DURC (“Documento Unico di Regolarità Contributiva”), through which the INPS (“Istituto Nazionale della Previdenza Sociale”) ensures the regular payment of social security contributions by the employer, officially started.
These days, in fact, the companies have started to receive by certified e-mail (PEC) an invitation to stabilize any irregularity within 15 days.
Fixed term employment contract: fines replace reinstatement
On 5 November 2013, the European Commission launched a consultation on its proposed new guidelines on State aid for rescuing and restructuring firms in difficulty (“the draft R&R guidelines”) which will replace the current R&R guidelines adopted in 2004. The revision of the 2004 guidelines was postponed a number of times as a result of the financial crisis, during which the Commission applied a special R&R regime for the financial sector. At the time, the Commission was still considering adopting new R&R rules applicable to both the financial sector and the real economy.
On 21 March 2012, following an in-depth investigation, the European Commission announced that it has approved the UK government’s plans to relieve the Royal Mail of excessive pension costs and to provide restructuring aid consisting of a debt reduction of £1,089 million. Read more.
On 11 May 2012, the Commission announced that it has approved a 2009 restructuring plan for ING, following a General Court judgment which had partially annulled the Commission’s previous clearance decision. Therefore, the Commission has essentially confirmed its earlier decision and has decided to appeal the General Court judgment. It has also opened an in-depth State aid investigation into the subsequent amendments to the restructuring plan made by the Dutch State and ING. The Commission believes that the complexity of the issues justifies an in-depth analysis.
In the European Union, Stat e interventions in the market in the form of subsidies or other economic advantages are generally prohibited, but companies can receive aid from Member States if the aid is approved by the European Commission.