{
  "url": "https://openlegislation.uk/eu-decision-2012-477/annex-II/division-4",
  "json_url": "https://openlegislation.uk/eu-decision-2012-477/annex-II/division-4.json",
  "legislation": "eudn/2012/477",
  "legislation_title": "Commission Decision of 20 September 2011 on State aid granted by Germany to HSH Nordbank AG SA.29338 (C 29/09 (ex N 264/09)) (notified under document C(2011) 6483) (Only the German text is authentic) (Text with EEA relevance) (2012/477/EU)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2012-477",
  "path": "annex/II/division/4",
  "kind": "division",
  "number": "4",
  "heading": null,
  "text": "[Protection of reserves] In the period from 1 January 2015 until 31 December 2016, dividend payments may not exceed 50 % of the annual surplus for the previous financial year. Furthermore, dividend payments may be made during that period only in so far as they do not jeopardise compliance with the Basel III provisions on the capital of credit institutions in the medium-term.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2012/477/annex/II/division/4",
    "retrieved_at": "2026-11-01T15:15:22.896332+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."
}