2013/126/EU: Commission Decision of 8 May 2012 on State aid SA.22668 (C 8/08 (ex NN 4/08)) (notified under document C(2012) 3025) Text with EEA relevance

The initial share capital and the subsequent share capital increases amounting to EUR 94459719, land allocated to Ciudad de la Luz amounting to EUR 9800040, the participating loans amounting to EUR 115 million, the convertible loan stock issued since 2008 totalling EUR 45829840 granted unlawfully to Spain by Ciudad de la Luz SA prior to 31 December 2010, and any incentive granted to film producers under the condition that filming takes place at Ciudad de la Luz, in breach of Article 108(3) of the Treaty, constitute State aid incompatible with the internal market.

1 Spain shall recover the incompatible aid granted under Article 1 from the beneficiary.

2 The sums to be recovered shall bear interest from the date on which they were put at the disposal of the beneficiary until their actual recovery.

3 The interest shall be calculated on a compound basis in accordance with Chapter V of Council Regulation (EC) No 794/2004 .

4 Spain shall cancel all outstanding payments of the aid referred to in Article 1 with effect from the date of adoption of this Decision.

1 Recovery of the aid referred to in Article 1 shall be immediate and effective.

2 Spain shall ensure that this Decision is implemented within four months following the date of notification thereof.

1 Within two months following notification of this Decision, Spain shall submit the following information: (a) the total amount (principal and interest) to be recovered from the beneficiary; (b) a detailed description of the measures already taken and planned to comply with this Decision; (c) documents demonstrating that the beneficiary has been ordered to repay the aid.

2 Spain shall keep the Commission informed of the progress of the national measures taken to implement this Decision until recovery of the aid referred to in Article 1 has been completed. It shall immediately submit, at the request of the Commission, information on the measures already taken and planned to comply with this Decision. It shall also provide detailed information concerning the amounts of aid and interest already recovered from the beneficiary.

This Decision is addressed to the Kingdom of Spain.