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ARTICLE · 13 JULY 2023

EU Foreign Subsidies Regulation – Implementing Regulation And Notification Forms Adopted

Herbert Smith Freehills Kramer LLP
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The European Commission has now adopted its long-awaited Implementing Regulation in relation to the EU's new Foreign Subsidies Regulation ("FSR"). The Implementing Regulation includes...

European UnionGovernment, Public Sector
Lode Van Den Hende
Lode Van Den Hende
Kyriakos Fountoukakos
Kyriakos Fountoukakos
Morris Schonberg
Morris Schonberg

The European Commission has now adopted its long-awaited Implementing Regulation in relation to the EU's new Foreign Subsidies Regulation ("FSR"). The Implementing Regulation includes the notification forms setting out what information must be provided in relation to concentrations and public procurements. The information requirements have been reduced considerably compared to the drafts published earlier this year and should help companies focus their due diligence efforts. The new regime becomes applicable from 12 July 2023 with the notification obligations commencing from 12 October 2023.

Three intervention tools

The FSR is a new EU regulatory regime that is essentially intended to "level the playing field" between EU operators and their competitors from non-EU Member States which are not subject to EU State aid rules and are consequently able to provide their companies with significant State subsidies.

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