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C 24/2 EN Official Journal of the European Communities 25.1.

2001

EUROPEAN ECONOMIC AREA

EFTA COURT

JUDGMENT OF THE COURT

of 14 July 2000
in Case E-1/00 request for an Advisory Opinion from HØraðsdómur Reykjavíkur (Reykjavík
District Court): State Debt Management Agency (LÆnasy·sla ríkisins) v ˝slandsbanki-FBA hf,
formerly the Icelandic Investment Bank hf (FjÆrfestingarbanka atvinnulífsins hf)

(Free movement of capital — State guarantees issued on financial loans — Different guarantee fees for
foreign and domestic loans)
(Pursuant to Article 27(5) of the Rules of Procedure only the English and Icelandic texts are authentic)

(2001/C 24/02)

In Case E-1/00: request to the Court pursuant to Article 34 of the Agreement between the EFTA States on
the Establishment of a Surveillance Authority and a Court of Justice by HØraðsdómur Reykjavíkur
(Reykjavík District Court), for an Advisory Opinion in the case pending before it between the State
Debt Management Agency (LÆnasy·sla ríkisins) and ˝slandsbanki-FBA hf, formerly the Icelandic Investment
Bank hf (FjÆrfestingarbanka atvinnulífsins hf), on the interpretation of Articles 4, 40, 42 and 61 of the EEA
Agreement, the Court, composed of Thór VilhjÆlmsson, President, Carl Baudenbacher and Per Tresselt
(Judge-Rapporteur), judges; and Gunnar Selvik, registrar, gave an Advisory Opinion on 14 July 2000,
the operative part of which is as follows:

National provisions of a contracting party to the EEA Agreement which provide

(a) that a borrower, who is entitled to a State guarantee, must pay a guarantee fee on loans from
entities in other contracting parties but not on loans from domestic entities;

or

(b) that a borrower, who is entitled to a State guarantee, must pay a higher guarantee fee on loans
from entities in other contracting parties compared to loans from domestic entities;

are incompatible with Article 40 EEA, read with Council Directive 88/361/EEC.