Legal basis. The Mortgage Loan Scheme is based on Chapter V of Act No 125/2008 of 6 October 2008 on the authority for treasury disbursements due to unusual financial market circumstances etc., inter alia amending Act No 44/1998 on housing affairs (the ‘Emergency Act’) (2). Further details have been specified by means of Regulation No 1081/2008 of 26 November 2008 on the authority of the Housing Financing Fund to purchase bonds secured by mortgages in residential housing and issued by financial undertakings (the ‘Regulation’). The Regulation was adopted and entered into force on 24 October 2008. In addition, the Board of the Housing Financing Fund issued Rules regarding the purchase of mortgage loans from financial undertakings (the ‘Supplementary Rules’). Following the approval by the Minister of Social Affairs and Social Security, the Rules were published on 15 January 2009 and entered into force on the same day. The first application under the Mortgage Loan Scheme was a mortgage loan transfer agreement signed on 23 March 2009 between the HFF and the Keflavik Saving Fund for a total value of ISK […] (3). For the time being, there are three beneficiaries of the Mortgage Loan Scheme. In addition to the Keflavik Savings Bank, the HFF has entered into agreements with BYR Savings Bank (4) and Bolungarvik Savings Bank (5). The Icelandic authorities have also informed the Authority about four further applications which have been made under the Mortgage Loan Scheme.
Legal basis. Agreement on Trade, Development and Cooperation between the European Community and its Member States, of the one part, and the Republic of South Africa, of the other part, Treaty of Accession of the ten New Member States to the Community.
Legal basis. In a proposition on the fiscal budget from the Norwegian Government to the Norwegian Parliament (9), which was followed up by a Recommendation from a Parliamentary Committee to the Parliament (10), the Government proposed to grant a budget of a total amount of NOK 70 million for the establishment of the Unpaid R&D Labour Scheme as well as the Compensation Scheme. The budget was approved by the Parlia- ment on 17 June 2005. In parallel, the Government presented a proposal to the Parliament in order to amend the Norwegian Act on Taxation of wealth and income for purposes of introducing provisions on tax treatment and ceilings in respect of the grants to be awarded under the Unpaid R&D Labour Scheme (hereinafter referred to as the ‘Tax law on the Unpaid R&D Labour Scheme’) (11). The proposal was furthered in a Recommendation from the Finance Committee in the Parliament (12). On 17 June 2005 the Norwegian Parliament adopted the Tax law on the Unpaid R&D Labour Scheme (13). Aside from the adoption of the budget and the Tax law on the Unpaid R&D Labour Scheme, the measure intended to govern the new scheme in practice consists of draft guidelines on the implementation of the Unpaid R&D Labour Scheme (hereinafter referred to as the ‘Guidelines on the Unpaid R&D Labour Scheme’).
Legal basis. Treaty on European Union, in particular Article 28, 31(2) and 33. Treaty on the functioning of the European Union. Council Regulation (EC) No 1605/2002 on the Financial Regulation applicable to the general budget of the European Union, in particular Article 75(2) thereof.