Government Decree No. 465 / 2005 Coll.
Decree of the Government issued on the basis of the authorisation provided for in the Act on the Promotion of Construction of Cooperative Houses
Valid
Regulation
Effective from 01.01.2006
Text versions:
01.01.2006
28.11.2005
465
GOVERNMENT REGULATION
of 9 November 2005
issued on the basis of the authorisation provided for in the Act on the promotion of the construction of cooperative flats
The Government hereby orders pursuant to § 3 (2) of Act No. 378 / 2005 Coll., on the promotion of the construction of cooperative housing from the State Housing Development Fund and amending Act No. 190 / 2004 Coll., on bonds, (Act on the promotion of the construction of cooperative housing):
This Regulation lays down, following the directly applicable regulation of the European Communities governing small scale aid (1)
(a) the financial amounts to be used for the calculation of the subsidy and credit granted as aid from the State Housing Development Fund;
(b) the procedure and details for calculating the maximum allowable aid amount;
(c) the procedure and details for repayment of the loan.
(1) For the calculation of the amount of the subsidy pursuant to § 3 (3) of the Act on the promotion of the construction of cooperative flats, the financial amount is CZK 100 000 per apartment.
(2) For the calculation of the amount of the loan according to § 3 (4) of the Act on the promotion of the construction of cooperative flats, the financial amount is no more than CZK 700 000 per apartment.
In order to assess the compliance of the aid with the directly applicable European Communities Regulation governing small scale aid (1), the amount of aid for the construction of cooperative housing granted to housing cooperatives shall be determined as the sum of the subsidy and gross equivalent of the current value of the savings resulting from the preferential credit (2).
(1) The loan is payable within 20 years of the date on which it was initiated.
(2) The loan is repaid by the housing cooperative by regular monthly instalments involving the repayment of principal and interest, unless otherwise specified. The first instalment shall be payable no later than 90 days after the end of the loan, the loan being available no later than 3 years after the conclusion of the aid contract. The housing cooperative can pay an extraordinary payment at any time and repay the loan prematurely.
(3) Exhausted loan funds are remunerated at an interest rate of 3% per year. The interest on the depleted part of the loan shall begin on the date on which its drawdown begins.
(4) The loan shall be repaid by the housing cooperative on behalf of the State Housing Development Fund as specified in the grant contract.
This Regulation shall enter into force on 1 January 2006.
Prime Minister:
Ing. Paroubek v. r.
Minister for Local Development:
Mgr. Martínek v. r.
1) Commission Regulation (EC) No 69 / 2001 of 12 January 2001 on the application of Articles 87 and 88 of the EC Treaty to de minimis aid.
2) Article 2 (3) of Commission Regulation (EC) No 69 / 2001 of 12 January 2001 on the application of Articles 87 and 88 of the EC Treaty to de minimis aid.
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Regulation Information
| Citation | Decree of the Government No. 465 / 2005 Coll., issued on the basis of the authorisation provided for in the Act on the promotion of the construction of cooperative flats |
|---|---|
| Regulation Type | Regulation |
| Author | - |
| Collection | Code of Laws |
| Date of Promulgation | 28.11.2005 |
|---|---|
| Effective from | 01.01.2006 |
| Effective until | - |
| Status | Valid |
The regulation text is for informational purposes only.
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