Business papers – Photo by Romain Dancre on Unsplash
(BRUSSELS) – The EU Commission adopted Monday rules for implementing the Foreign Subsidies Regulation (‘FSR’). The Implementing Regulation details procedural aspects of the implementation of the FSR.
It also contains notification forms for concentrations involving foreign financial contributions and for foreign financial contributions in public procurement procedures.
The Implementing Regulation adopted today takes into account the feedback received during the one-month public consultation period that took place between 6 February 2023 and 6 March 2023. In particular, as mandated by the FSR, it addresses respondents’ requests to limit the administrative burden related to notifications.
The Implementing Regulation, and in particular the notification forms, detail the reporting obligations of notifying parties, specifying the information that needs to be included in the notification forms for concentrations and public procurement procedures. Moreover, the Implementing Regulation provides detailed rules on: (i) the procedure for notifications to the Commission of concentrations and of participation in public procurement involving foreign financial contributions; (ii) the Commission’s investigation process; (iii) the procedural rights of the parties; (iv) the calculation and suspension of time limits; (v) the transmission and signature of documents.
The FSR will start to apply from 12 July 2023. As of 12 October 2023, companies will have to notify concentrations and participation in public procurement procedures involving foreign financial contributions and meeting the relevant notification thresholds.
