Legal provisions of COM(2020)454 - Proposal to grant temporary support under Council Regulation (EU) 2020/672 to Cyprus to mitigate unemployment risks in an emergency situation following the COVID-19 outbreak - Main contents
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| dossier | COM(2020)454 - Proposal to grant temporary support under Council Regulation (EU) 2020/672 to Cyprus to mitigate unemployment risks in an ... |
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| document | COM(2020)454  |
| date | September 25, 2020 |
Article 1
Article 2
2. The availability period for financial assistance granted by this Decision shall be 18 months starting from the first day after this Decision has taken effect.
3. The Union financial assistance shall be made available by the Commission to Cyprus in a maximum of eight instalments. An instalment may be disbursed in one or several tranches. The maturities of the tranches under the first instalment may be longer than the maximum average maturity referred to in paragraph 1. In such cases, the maturities of further tranches shall be set so that the maximum average maturity referred to in paragraph 1 is respected once all instalments have been disbursed.
4. The first instalment shall be released subject to the entry into force of the loan agreement provided for in Article 8(2) of Regulation (EU) 2020/672.
5. Cyprus shall pay the cost of the funding of the Union referred to in Article 4 of Regulation (EU) 2020/672 for each instalment plus any fees, costs and expenses of the Union resulting from any funding related to the loan granted under paragraph 1 of this Article.
6. The Commission shall decide on the size and release of instalments, as well as on the size of the tranches.
Article 3
| (a) | the special leave scheme for parents, as provided for in ‘Law 27(I)/2020’ and in ‘Regulatory Administrative Acts 127/148/151/184/192/212/213/235/2020’; |
| (b) | the schemes supporting companies for the partial and total suspension of operations, as provided for in ‘Law 27(I)/2020’ and in ‘Regulatory Administrative Acts 131/148/151/188/212/213/239/2020 and 151/187/212/213/238/243/273/2020’; |
| (c) | the special scheme for the self-employed, as provided for in ‘Law 27(I)/2020’ and in ‘Regulatory Administrative Acts, 129/148/151/186/213/237/322/2020’; |
| (d) | the special scheme for hotel units and tourist accommodation, as provided for in ‘Law 27(I)/2020’ and in ‘Regulatory Administrative Acts 269/317/2020’; |
| (e) | the special scheme to support businesses related to the tourism industry or affected by tourism or associated with businesses that are subject to mandatory total suspension, as provided for in ‘Law 27(I)/2020’ and in ‘Regulatory Administrative Acts 270/318/2020’; |
| (f) | the special scheme for supporting businesses exercising special predefined activities, as provided for in ‘Law 27(I)/2020’ and in ‘Regulatory Administrative Acts 272/320/2020’; |
| (g) | the subsidisation scheme of very small and small enterprises and the self-employed, as provided for in ‘Supplementary budget, Temporary framework for State aid measures to support the economy in the current COVID-19 outbreak’, for the part of expenditure related to the support of the self-employed and one-person companies; |
| (h) | the sickness benefit scheme, as provided for in ‘Law 27(I)/2020’ and in ‘Regulatory Administrative Acts 128/148/151/185/212/236/2020’. |
Article 4
Article 5
This Decision shall take effect on the date of its notification to the addressee.