S.L. 463.8 Art. 6Extent of the guarantee.

(1) The Corporation’s guarantee exposure regarding an assisted loan shall not exceed at any moment in time eighty per centum of the total outstanding loan balance due to the bank which shall not exceed the sum of eighty thousand euro (€80,000):

Provided that as from the 1st January 2017, the Corporation’s guarantee exposure regarding an assisted loan shall not exceed at any moment in time eighty per centum of the total outstanding loan balance due to the bank which shall not exceed the sum as prescribed in the Guidelines.

(2) The Corporation’s guarantee of the repayment of an assisted loan shall be subsidiary to the principal liability of the eligible enterprise to whom an assisted loan has been granted.