COVID-19: Communication amending Temporary Framework for second time published in Official Journal | Practical Law

COVID-19: Communication amending Temporary Framework for second time published in Official Journal | Practical Law

On 13 May 2020, a Communication from the European Commission on an amendment to the Temporary Framework for state aid measures to support the economy in the current COVID-19 outbreak was published in the Official Journal.

COVID-19: Communication amending Temporary Framework for second time published in Official Journal

Published on 13 May 2020European Union
On 13 May 2020, a Communication from the European Commission on an amendment to the Temporary Framework for state aid measures to support the economy in the current COVID-19 outbreak was published in the Official Journal.
On 13 May 2020, a Communication from the European Commission on amendment of the Temporary Framework for state aid measures to support the economy in the current COVID-19 outbreak was published in the Official Journal (OJ 2020 C164/3). The Commission adopted this Communication on 8 May 2020 and the amendment took effect from that date (see Legal update, COVID-19: Commission adopts second amendment to Temporary Framework to support the economy ).
This is the second amendment to the Temporary Framework and it extends the scope of the Temporary Framework to cover aid to companies in the form of subordinated debt and in the form of recapitalisation aid (using equity and/or hybrid capital instruments) to non-financial companies affected by the outbreak.
The Commission has also published an informal consolidated version of the Temporary Framework , first adopted on 19 March 2020, as amended on both 3 April 2020 and 8 May 2020.