In anticipation of the upcoming entry into force of the Foreign Subsidies Regulation on 12 July 2023, the European Commission has released a comprehensive set of 15 Questions & Answers that provide valuable insights into its application.
These Q&As address three key areas, namely Procedural and Jurisdictional Issues, Implementation Issues, and Practical Issues.
The Commission notably confirmed that foreign financial contributions provided by EEA EFTA countries (Iceland, Lichtenstein, and Norway) must be taken into account when assessing whether the notification threshold for concentrations, as outlined in Article 20 of the Foreign Subsidy Regulation, has been met. This could raise fundamental questions regarding the interpretation and application of the EEA Agreement as well as the Surveillance and Court Agreement. Maybe more light will be shed with the implementing regulation?
The Commission also emphasised that these Q&As may be subject to updates and revisions as needed.
For further information: see Q&A