{
  "url": "https://openlegislation.uk/eu-decision-2020-1183/annex/division-6",
  "json_url": "https://openlegislation.uk/eu-decision-2020-1183/annex/division-6.json",
  "legislation": "eudn/2020/1183",
  "legislation_title": "Commission Decision (EU) 2020/1183 of 25 February 2020 on State aid SA.34445 (2012/C) implemented by Denmark for the transfer of property-related assets from FIH to the FSC (Only the English text is authentic) (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-decision-2020-1183",
  "path": "annex/division/6",
  "kind": "division",
  "number": "6",
  "heading": "CAPITAL RELIEF",
  "text": "FIH will remunerate the measure in line with the IAC. Specifically, in addition to making a one off payment of DKK 295,25 Million 27,5 Million × N/365, where N is the number of days between 30 September 2013 and the final payment date, which, according to the Danish authorities has already occurred with value date 4 December 2013, FIH will:\nEach year, from 2014 to 2020 or the year following the final settlement of the purchase price agreement, whichever is earlier, pay a fee of DKK 2,1 million per annum with value date 30 September (or, if 30 September of the respective date is not a business day, on the following business day). The final fee is to be paid on the settlement date of the purchase price agreement, and reduced pro rata temporis (on an actual over actual basis) for the period between the penultimate fee payment (30 September) and the settlement of the purchase price agreement as well as for the first period, from 4 December 2013 to 30 September 2014.\nReduce the management fees for administration and hedging charged to FS Property Finance A/S to 0,05 % per annum of the outstanding loan portfolio, retroactively effective from 1 January 2013;\nPay an annual fee of DKK 47,2 million to FSC if the FSA changes its regulatory view regarding capital requirements at holding level such that FIH’s lending capacity would no longer be restricted by FIH Holding’s capital position. Value dates and time limitations similar to the first indent above apply.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "footnote",
      "label": "f1",
      "text": "It is worth mentioning that (i) FIH has already made a one off payment of DKK 350,97 million, and (ii) paid an amount of DKK 61,7 million to FS Property Finance A/S as partial repayment of fees received under the administration agreement for 2012, which according to the Danish authorities has already occurred with value date 18 December 2013. The FSC will return the part of the payment without interest exceeding the minimum payment described in Section 6 of these commitments."
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eudn/2020/1183/annex/division/6",
    "retrieved_at": "2026-11-01T15:12:11.534367+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."
}