On Jul. 19, BEL GVT issued decree of law on SMEs guarantee scheme.
BEL GVT issued decree and consolidated law on generic guarantee scheme for SMEs, which was presented as a finalized law in the Official Gazette, as per OG 2024/006539.
Guarantee Scheme for SME companies
Provisions of BEL GVT's decree on the scheme affects credit institutions and stockbroking firms, and all credit institutions that are part of another Member State.
As per Article 8, Decree of Oct. 21, 2022 implementing Decree of Dec. 10, 2021 containing a generic guarantee scheme for companies, limits and financing agreement.
Amends Apr. 15, 2009 Decree of BEL GVT, implementing Chapter III/1 of Feb. 6, 2004 Decree on a guarantee scheme for small, medium-sized and large companies.
Sets out details for beneficiaries, deposits and financing agreement provisions.
Changes include paragraph 4, the amount 750,000 is replaced by amount 1,125,000.
In paragraph 7, the amount 1,500,000 is replaced by the amount 2,250,000.
Effectiveness
This Decree shall enter into force on Oct. 1, 2024.
Regulators
BEL GVT
Entity Types
B/D; Bank; Fiduciary; IA; Inv Co; MSB
Reference
OG 2024/006539, Dec, 7/19/2024; Citation: OG 2024/006539;
Functions
Actuarial and Valuation; C-Suite; Legal; Operations; Registration/Licensing; Reporting; Treasury; Underwriting
