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All the insurance business housed in Ducroire/Delcredere when it was established merely corresponded to a transfer of the ONDD's portfolio of short-term insurance business.
Jack elmentEurLex-2 EurLex-2
on State Aid No SA.23420 (11/C, ex NN40/10) implemented by Belgium for SA Ducroire/Delcredere NV
Látni szeretném őtEurLex-2 EurLex-2
To consider that the economic capital required by Ducroire/Delcredere when it was set up in 2005 to continue the activity pre-existing within the ONDD must be determined on the basis of the requirements of the Solvency II Directive which did not even exist at the time and for which the regulators would in any case have planned transitional arrangements, seems excessive.
Ne nézz így rám!EurLex-2 EurLex-2
It emerges from the notes and minutes of 2004 that the ONDD's decision to endow Ducroire/Delcredere with a capital of EUR 150 million to Ducroire was essentially due to the ONDD's wish to endow its subsidiary with ‘sufficient’ initial capital to enable it to develop its business and [...] — ‘a paid-up capital of EUR 100 million is sufficient to carry on the short-term exporters' global policies business until 2007 but this should be reviewed after that date’ (75), however it was not actually and precisely demonstrated that the expected future profitability was satisfactory from a private investor's point of view.
A közigazgatási határok által meghatározott Poznań városa, Poznań körzet és a Wielkopolska vajdaság alábbi körzeteiEurLex-2 EurLex-2
The Belgian authorities do not in any way demonstrate that this capital of EUR 150 million was already allocated to short-term activities within the ONDD before their transfer to Ducroire/Delcredere and that this capital of EUR 150 million does not therefore constitute a new advantage for these activities.
De az FBI is kitalálhat nekedEurLex-2 EurLex-2
(a) ‘additional capital’: the part of the capital allocated to Ducroire/Delcredere that exceeds the part of the capital that was already supporting the insurance of short-term risks (including marketable and non-marketable risks) within the ONDD on 31 December 2004 (just before the insurance of short-term risks was transferred to Ducroire/Delcredere);
A lányom most hívott, a Platt autóbontónál vanEurLex-2 EurLex-2
In particular, the capital allocation to Ducroire/Delcredere was sufficiently large to enable it to carry out acquisitions.
Most elkaphatjuk, a táncteremben vanEurLex-2 EurLex-2
To this end, the Belgian authorities state that all the balance-sheet items in the commercial account relating to commercial activity were transferred to Ducroire/Delcredere's opening balance sheet.
Még sosem láttalak beszállniEurLex-2 EurLex-2
The transfer to Ducroire/Delcredere of this capital with the activity in question cannot therefore constitute aid.
Illetve mielőtt Isten szultánná emelt engemEurLex-2 EurLex-2
The parameter whose validity must be assessed to determine whether the ONDD acted like a private investor in a market economy by allocating EUR 150 million in capital to SA Ducroire/Delcredere NV appears to be the expected return on investment concerning credit insurance for marketable risks anticipated prior to setting up SA Ducroire/Delcredere NV.
A tőzsdei határidős kamatlábügyleteket az EKB/#/# iránymutatás #. cikke szerint számolják elEurLex-2 EurLex-2
The Commission has in fact concluded that the capital which already supported the activity relating to short-term risks within the ONDD before the transfer of this activity to Ducroire/Delcredere amounted to EUR [45-75] million and that therefore additional capital of EUR [75-100] million was allocated to this activity.
Rendben, rendbenEurLex-2 EurLex-2
The Belgian authorities maintain that the portfolio of risks insured by Ducroire/Delcredere is atypical in that, unlike most of its competitors, it covers for the most part non-marketable risks within the meaning of the Communication on export-credit insurance.
Hisz te is akarodEurLex-2 EurLex-2
Moreover, neither the acquisition of KUP nor a broader acquisition strategy was taken into account when transferring the capital to Ducroire/Delcredere.
Miért vagy kedves velem?EurLex-2 EurLex-2
The capital allocation made in 2004 is selective inasmuch as it benefits Ducroire/Delcredere directly and exclusively.
Ennek van értelmeEurLex-2 EurLex-2
The Belgian State, represented on the Board of Directors of the ONDD and informed of the decisions taken by it, was therefore directly involved in the ONDD's allocation of capital to Ducroire/Delcredere.
Hát, nem mintha valami bajom lenne magával,. csak nem hiszem, hogy jobban védenék tőleEurLex-2 EurLex-2
Although the Belgian authorities refer to the Standard & Poor's method, they did not use it to determine the capital requirement for Ducroire/Delcredere.
Nem akarom, hogy így emlékezz rám, ha eszedbe jutokEurLex-2 EurLex-2
the documents proving that Ducroire/Delcredere has been served with formal notice to repay the aid.
Ezen irányelv célja, hogy a hajók által okozott szennyezésre vonatkozó nemzetközi normákat a közösségi jogba beépítsék és annak biztosítása, hogy a szennyezésért felelős személyeket megfelelő, a #. cikkben említett szankcióknak vessék alá a tengeri biztonság fejlesztése, valamint a tengeri környezet hajók által okozott szennyezése elleni védelmének fokozása érdekébenEurLex-2 EurLex-2
the part of the capital that was already supporting the insurance of marketable risks within the ONDD and which was simply transferred to Ducroire/Delcredere with the corresponding insurance business.
Látni akartamEurLex-2 EurLex-2
The capital thus determined by the ONDD for Ducroire/Delcredere and stated in the financial plans submitted to the regulator and in the information memo dated 20 April 2004 (27), on the basis of which the Board of Directors agreed in principle to set up Ducroire/Delcredere with a subscribed capital of EUR 150 million, was approximately EUR 68 to 74 million for the end of 2006 (see Table 2 below).
Mer ' ő sem cseszeget minketEurLex-2 EurLex-2
Moreover, the ONDD and Ducroire/Delcredere operate in the other Member States, mainly as a result of the acquisition of KUP, the commercial arm of the Czech national export-credit insurance agency.
Csak féltékenyEurLex-2 EurLex-2
In order to establish that the capital allocated to Ducroire/Delcredere by the ONDD was necessary and fulfilled the criterion of the private market economy investor, the Belgian authorities put forward the following arguments: (1) the transaction must be seen in its context, namely the transfer of an existing activity to a new subsidiary; (2) the capital injection is justified under the solvency rules; (3) the expected profitability of Ducroire/Delcredere's insurance of marketable risks was sufficient to convince a private market economy investor to make this investment.
Rejtsétek el a morfiumotEurLex-2 EurLex-2
Ducroire/Delcredere is in competition with other European Union undertakings in the credit insurance market.
Kirándulni?EurLex-2 EurLex-2
They were also asked to produce evidence that this guarantee did indeed expire on 31 August 2003 and not at the time when Ducroire/Delcredere was established, i.e. 1 January 2005.
Nos, most, hogy van alkalmazottunk, elmehetünk enniEurLex-2 EurLex-2
In conclusion, even supposing that the capital required to support the expected growth of Ducroire/Delcredere's business was a relevant criterion for the present analysis (a fact contested by the Commission), the Belgian authorities have not provided any fresh evidence to demonstrate conclusively that the capital requirement relating to short-term risks transferred to Ducroire/Delcredere had to be greater than the existing capital on the ONDD commercial account at the end of 2004.
Igen magas áraEurLex-2 EurLex-2
Part of the capital already supporting the insurance of marketable risks within the ONDD and which was simply transferred to Ducroire/Delcredere with the corresponding insurance activities (second exclusion criterion detailed in the opening decision)
A lelkem üresEurLex-2 EurLex-2
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