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Commission Regulation (EC) No 794/2004Show full title
Commission Regulation (EC) No 794/2004 of 21 April 2004 implementing Council Regulation (EU) 2015/1589 laying down detailed rules for the application of Article 108 of the Treaty on the Functioning of the European Union
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- Revised 22/12/20166.08 MB
- Revised 17/03/20165.42 MB
- Revised 30/12/20152.27 MB
- Revised 02/05/20148.51 MB
- Revised 24/11/20097.91 MB
- Revised 16/04/20097.21 MB
- Revised 22/11/20087.20 MB
- Revised 14/04/20087.39 MB
- Revised 19/01/20073.46 MB
- Revised 21/11/20065.12 MB
- Revised 20/05/20045.06 MB
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Changes over time for: Article 9
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[F1Article 9 U.K. Method for fixing the interest rate
1. Unless otherwise provided for in a specific decision, the interest rate to be used for recovering State aid granted in breach of Article 88(3) of the Treaty shall be an annual percentage rate which is fixed by the Commission in advance of each calendar year.
2. The interest rate shall be calculated by adding 100 basis points to the one-year money market rate. Where those rates are not available, the three-month money market rate will be used, or in the absence thereof, the yield on State bonds will be used.
3. In the absence of reliable money market or yield on stock bonds or equivalent data or in exceptional circumstances the Commission may, in close co-operation with the Member State(s) concerned, fix a recovery rate on the basis of a different method and on the basis of the information available to it.
4. The recovery rate will be revised once a year. The base rate will be calculated on the basis of the one-year money market recorded in September, October and November of the year in question. The rate thus calculated will apply throughout the following year.
5. In addition, to take account of significant and sudden variations, an update will be made each time the average rate, calculated over the three previous months, deviates more than 15 % from the rate in force. This new rate will enter into force on the first day of the second month following the months used for the calculation.]
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