The EU Regulation on foreign subsidies that distort the internal market enters into application and its Implementing Regulation is adopted
The new regulation clarifies the rules, notification obligations and procedures related to the application of the new regulation on financial contributions granted by third states to companies operating in the EU.
On 10 July 2023, the European Commission adopted the Implementing Regulation detailing the rules and procedures applicable in relation to the Regulation on foreign subsidies distorting the internal market, which entered into force on 12 January and is applicable as of 12 July 2023.
As we explained at the time, the Regulation on foreign subsidies establishes a new and ambitious control regime for subsidies granted by third countries to companies operating and domiciled within the EU, regardless of their nationality. This new regime includes a system of notification and prior authorization for concentrations and public procurement operations that exceed certain quantitative thresholds.
We analyze it in this document.