According to the authorities, the mere fact that any LA provided by the BNB automatically benefits from the guarantee of the State makes no difference to this conclusion.

According to the authorities, compensation was also necessary to avoid social unrest.

Although SNCB is free to carry on any activities compatible with its object, the legislator has introduced certain limited mechanisms for checking whether an autonomous public undertaking is infringing the law, its statutes or the management contract.

reformed SNCB’s structure on 1 January 2005. It was divided into three distinct companies, namely:

By Royal Decree of 7 May 2003 the authorities implemented all the provisions of the programme act for the maritime sector (Articles 115 to 127 of the said programme act), specifying in the preamble to the Royal Decree that the decree provided ‘no legal basis to taxpayers for claiming vis-à-vis the tax administration or before the national courts the application of the fiscal aid measures whose compatibility is being investigated by the Commission’ in accordance with the Commission's decision of 19 March 2003.

Complete if the form is being sent to a , Danish, Spanish, French, Italian, Luxembourgish, Netherlands, Austrian, Icelandic or Norwegian institution.

To be completed, if the certificate is to be sent to a , Danish, Italian, Netherlands, Portuguese, Liechtenstein, Slovenian, Swiss or Norwegian institution.

Complete if the form is being sent to a , Danish, German, French, Irish, Italian, Netherlands, Austrian, United Kingdom, Icelandic or Norwegian institution.

Complete if the form is being sent to a , Danish, Portuguese, Spanish, French, Italian, Luxembourgish, Netherlands, Finnish, Swedish, Icelandic or Norwegian institution.

In their letter of 5 December 2002, the authorities provided a list of eligible activities, for some of which the Commission has had strong doubts as to whether they have a direct link with transport, namely:

The parent company, Dexia SA, is incorporated as a limited company under law and listed on the Euronext Paris and Euronext Brussels stock exchanges.

In clearing the accounts of the , Spanish and Greek paying agencies concerned, the Commission must take account of the amounts already paid to Belgium and withheld from Spain and Greece on the basis of Decision 2002/461/EC.

Clearance of accounts of the , Spanish and Greek paying agencies not cleared by Decision 2002/461/EC

Only if the form is addressed to a , French, Greek, Liechtenstein or Swiss institution, indicate the risk covered by using the following

Complete where possible if the form is being sent to a German, , French, Italian, Luxembourg, Netherlands, Austrian, Portuguese, Swedish, Finnish, Liechtenstein or Norwegian institution.

Complete where possible if the form is being sent to a German, , French, Hungarian, Italian, Lithuanian, Luxembourgish, Netherlands, Polish, Slovak, Austrian, Portuguese, Swedish, Liechtenstein, Finnish or Norwegian institution.

Complete where possible if the form is being sent to a German, , French, Hungarian, Italian, Luxembourgish, Netherlands, Polish, Austrian, Liechtenstein, Finnish or Norwegian institution.

On the basis of the information and commitments communicated to the Commission by the , French and Luxembourg authorities, the Commission authorises Dexia’s revised orderly resolution plan, including the sale of DMA to create a development bank for financing French local authorities and French public health establishments, as well as the operation to sell DBB/Belfius to the Belgian State and the DBB/Belfius restructuring plan.

The , French and Luxembourg authorities and Dexia shall provide full cooperation with regard to all the verifications which the Commission or, where appropriate, the independent expert may request.

The , French and Luxembourg authorities and Dexia will cooperate fully in any verifications that may be requested by the Commission or, where appropriate, by the independent trustee.