(16)

in Article 5, paragraphs 6 and 7 are replaced by the following: ‘6. It shall be prohibited to directly or indirectly make or be part of any arrangement to make: The prohibition shall not apply to: 7. The prohibition in paragraph 6 shall not apply to drawdown or disbursements made under a contract concluded before 26 February 2022, provided that the following conditions are met: The terms and conditions of drawdowns and disbursements referred to in point (a) include provisions concerning the length of the repayment period for each drawdown or disbursement, the interest rate applied or the interest rate calculation method, and the maximum amount.’ ; new loans or credit with a maturity exceeding 30 days to any legal person, entity or body referred to in paragraph 1 or 3, after 12 September 2014 to 26 February 2022; or any new loans or credit to any legal person, entity or body referred to in paragraph 1, 2, 3 or 4 after 26 February 2022. loans or credit that have a specific and documented objective to provide financing for non-prohibited imports or exports of goods and non-financial services between the Union and any third State, including the expenditure for goods and services from another third State that is necessary for executing the export or import contracts, provided that the national competent authority has been notified within three months of the date of the loan or credit; or loans that have a specific and documented objective to provide emergency funding to meet solvency and liquidity criteria for legal persons established in the Union, whose proprietary rights are owned for more than 50 % by any entity referred to in Annex III, provided that the national competent authority has been notified within three months of the date of the loan or credit. all the terms and conditions of such drawdown or disbursements: were agreed before 26 February 2022; and have not been modified on or after that date; before 26 February 2022, a contractual maturity date has been fixed for the repayment in full of all funds made available and for the cancellation of all the commitments, rights and obligations under the contract; at the time of its conclusion the contract was not in breach of the prohibitions in this Regulation in force at that time; and the national competent authority has been notified within three months of the date of the drawdown or disbursements.

← (b) · All articles · (i) →

Source: EUR-Lex (Cellar) · retrieved 2026-10-17 · Text as adopted (Official Journal); later amendments are not incorporated in this text.