{
  "url": "https://openlegislation.uk/eu-decision-2010-396",
  "json_url": "https://openlegislation.uk/eu-decision-2010-396.json",
  "id": "eudn/2010/396",
  "title": "Commission Decision of 18 November 2009 on the State aid C 18/09 (ex N 360/09) implemented by Belgium for KBC (notified under document C(2009) 8980) (Only the English text is authentic) (Text with EEA relevance) (2010/396/EC)",
  "short_title": "Commission Decision of 18 November 2009 on the State aid C 18/09 (ex N 360/09) implemented by Belgium for KBC (notified under document C(2009) 8980) (Only the English text is authentic) (2010/396/EC)",
  "long_title": "Commission Decision of 18 November 2009 on the State aid C 18/09 (ex N 360/09) implemented by Belgium for KBC (notified under document C(2009) 8980) (Only the English text is authentic) (Text with EEA relevance) (2010/396/EC)",
  "citation": "EU Decision 2010/396",
  "type": "eudn",
  "year": "2010",
  "number": "396",
  "version": "current",
  "date": "2009-11-18",
  "revised": false,
  "valid_from": null,
  "extent": "E+W+S+N.I.",
  "unapplied_effects": 0,
  "provisions": [
    {
      "path": "introduction",
      "kind": "introduction",
      "number": null,
      "heading": "Introductory text",
      "url": "https://openlegislation.uk/eu-decision-2010-396/introduction",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/1",
      "kind": "article",
      "number": "1",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/article-1",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/2",
      "kind": "article",
      "number": "2",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/article-2",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "article/3",
      "kind": "article",
      "number": "3",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/article-3",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "signature",
      "kind": "signature",
      "number": null,
      "heading": "Signature",
      "url": "https://openlegislation.uk/eu-decision-2010-396/signature",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "annex",
      "kind": "annex",
      "number": null,
      "heading": null,
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": null
    },
    {
      "path": "annex/division/1",
      "kind": "division",
      "number": null,
      "heading": "Behavioural commitments",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex"
    },
    {
      "path": "annex/division/1/division/i",
      "kind": "division",
      "number": "(i)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-i",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/ii",
      "kind": "division",
      "number": "(ii)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-ii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/iii",
      "kind": "division",
      "number": "(iii)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-iii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/iv",
      "kind": "division",
      "number": "(iv)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-iv",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/v",
      "kind": "division",
      "number": "(v)",
      "heading": "The Belgian authorities commit that KBC will adhere to the following price leadership ban:",
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-v",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/vi",
      "kind": "division",
      "number": "(vi)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-vi",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/vii",
      "kind": "division",
      "number": "(vii)",
      "heading": "With regard to the limitation of KBC executive remuneration, the Belgian authorities commit that:",
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-vii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/viii",
      "kind": "division",
      "number": "(viii)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-viii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/ix",
      "kind": "division",
      "number": "(ix)",
      "heading": "The Belgian authorities commit to re-notify the first recapitalisation under Article 88(3) of the Treaty if either of the following situations arises which make it less likely that the overall return in excess of 10 % p.a. is achieved:",
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-ix",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/x",
      "kind": "division",
      "number": "(x)",
      "heading": "In the same vein, the Belgian authorities commit to re-notify the second recapitalisation under Article 88(3) of the Treaty if the following situation arises which makes it less likely that the overall return in excess of 10 % p.a. is achieved:",
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-x",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/xi",
      "kind": "division",
      "number": "(xi)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-xi",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/xii",
      "kind": "division",
      "number": "(xii)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-xii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/xiii",
      "kind": "division",
      "number": "(xiii)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-xiii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/xiv",
      "kind": "division",
      "number": "(xiv)",
      "heading": "With regard to coupon payments and call options on hybrid capital, unless the Commission otherwise agrees to an exemption, the Belgian authorities commit that:",
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-xiv",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/1/division/xv",
      "kind": "division",
      "number": "(xv)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-1/division-xv",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/1"
    },
    {
      "path": "annex/division/2",
      "kind": "division",
      "number": null,
      "heading": "Divestments and run-down of business portfolios",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex"
    },
    {
      "path": "annex/division/2/division/xvi",
      "kind": "division",
      "number": "(xvi)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-xvi",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2"
    },
    {
      "path": "annex/division/2/division/xvii",
      "kind": "division",
      "number": "(xvii)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-xvii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2"
    },
    {
      "path": "annex/division/2/division/xviii",
      "kind": "division",
      "number": "(xviii)",
      "heading": "As regards the divestment businesses, the Belgian authorities commit that KBC will divest the following entities […]:",
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-xviii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2"
    },
    {
      "path": "annex/division/2/division/4",
      "kind": "division",
      "number": null,
      "heading": "Value Preservation Commitments",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2"
    },
    {
      "path": "annex/division/2/division/4/division/xix",
      "kind": "division",
      "number": "(xix)",
      "heading": "With regard to preserving the value of the divestment businesses, the Belgian authorities commit that KBC will ensure that:",
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-4/division-xix",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/4"
    },
    {
      "path": "annex/division/2/division/4/division/xx",
      "kind": "division",
      "number": "(xx)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-4/division-xx",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/4"
    },
    {
      "path": "annex/division/2/division/4/division/xxi",
      "kind": "division",
      "number": "(xxi)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-4/division-xxi",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/4"
    },
    {
      "path": "annex/division/2/division/4/division/xxii",
      "kind": "division",
      "number": "(xxii)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-4/division-xxii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/4"
    },
    {
      "path": "annex/division/2/division/5",
      "kind": "division",
      "number": null,
      "heading": "Additional divestment commitments in respect of Centea and Fidea",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2"
    },
    {
      "path": "annex/division/2/division/5/division/xxiii",
      "kind": "division",
      "number": "(xxiii)",
      "heading": "As regards the prospective buyer(s) of Centea and Fidea, the Belgian authorities have provided the commitment that KBC shall ensure that:",
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-5/division-xxiii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/5"
    },
    {
      "path": "annex/division/2/division/5/division/xxiv",
      "kind": "division",
      "number": "(xxiv)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-5/division-xxiv",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/5"
    },
    {
      "path": "annex/division/2/division/6",
      "kind": "division",
      "number": null,
      "heading": "Monitoring trustee",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2"
    },
    {
      "path": "annex/division/2/division/6/division/xxv",
      "kind": "division",
      "number": "(xxv)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-6/division-xxv",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/6"
    },
    {
      "path": "annex/division/2/division/6/division/xxvi",
      "kind": "division",
      "number": "(xxvi)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-6/division-xxvi",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/6"
    },
    {
      "path": "annex/division/2/division/7",
      "kind": "division",
      "number": null,
      "heading": "Review of the commitment Package",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2"
    },
    {
      "path": "annex/division/2/division/7/division/xxvii",
      "kind": "division",
      "number": "(xxvii)",
      "heading": "Where appropriate and on the basis of a sufficiently reasoned request from the Belgian authorities and KBC and taking into consideration the views of the monitoring trustee, the Commission may:",
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-7/division-xxvii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/7"
    },
    {
      "path": "annex/division/2/division/7/division/xxviii",
      "kind": "division",
      "number": "(xxviii)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-7/division-xxviii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/7"
    },
    {
      "path": "annex/division/2/division/8",
      "kind": "division",
      "number": null,
      "heading": "Divestiture trustee",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2"
    },
    {
      "path": "annex/division/2/division/8/division/xxix",
      "kind": "division",
      "number": "(xxix)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-8/division-xxix",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/8"
    },
    {
      "path": "annex/division/2/division/8/division/xxx",
      "kind": "division",
      "number": "(xxx)",
      "heading": "The Belgian authorities commit that KBC shall grant necessary and reasonable powers of attorney to the divestiture trustee:",
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-8/division-xxx",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/8"
    },
    {
      "path": "annex/division/2/division/8/division/xxxi",
      "kind": "division",
      "number": "(xxxi)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-8/division-xxxi",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/8"
    },
    {
      "path": "annex/division/2/division/8/division/xxxii",
      "kind": "division",
      "number": "(xxxii)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-8/division-xxxii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/8"
    },
    {
      "path": "annex/division/2/division/9",
      "kind": "division",
      "number": null,
      "heading": "Run-down of business portfolios",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2"
    },
    {
      "path": "annex/division/2/division/9/division/xxxiii",
      "kind": "division",
      "number": "(xxxiii)",
      "heading": "The Belgian authorities commit that KBC will take the necessary steps for the run-down of the business portfolios of the entities listed hereunder to be completed by the target dates as set out for each of these entities. From the date of this Decision until the completion of the run-down, KBC will respect a stand-still with regard to the amount of RWA represented by these business portfolios. Concerning this commitment, ‘stand-still’ means that KBC will not enter into any new business in these business portfolios and that KBC’s management decisions with regard to the business portfolios can only have a neutral or decreasing effect on the amount of RWA attributed to these business portfolios at the time of this Decision. KBC will not be obliged to divest or otherwise dispose of portfolio items or to terminate existing contracts under conditions that would result in a loss or a liability for KBC. KBC will thus run-down the following business portfolios:",
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-9/division-xxxiii",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/9"
    },
    {
      "path": "annex/division/2/division/10",
      "kind": "division",
      "number": null,
      "heading": "Listing of two CEE-R assets",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2"
    },
    {
      "path": "annex/division/2/division/10/division/xxxiv",
      "kind": "division",
      "number": "(xxxiv)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-2/division-10/division-xxxiv",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/2/division/10"
    },
    {
      "path": "annex/division/3",
      "kind": "division",
      "number": null,
      "heading": "Monitoring",
      "url": null,
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex"
    },
    {
      "path": "annex/division/3/division/xxxv",
      "kind": "division",
      "number": "(xxxv)",
      "heading": null,
      "url": "https://openlegislation.uk/eu-decision-2010-396/annex/division-3/division-xxxv",
      "extent": "E+W+S+N.I.",
      "status": null,
      "parent": "annex/division/3"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2010/396",
    "retrieved_at": "2026-10-31T18:06:11.491153+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}