No L 13/34 Official Journal of the European Communities 17. 1.90 (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 20 December 1989 relating to. a proceeding under Article 85 of the EEC Treaty : (IV/32.408 — TEKO) - (Only the German text is authentic) (90/22/EEC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Economic Community, Having regard to Council Regulation No 17 of 6 February 1962 First Regulation implementing Articles 85 and 86 of the Treaty ('),-as last amended by the Act of Accession of Spain and Portugal, and in particular Articles 4, 6 and 8- - thereof, Having regard to the application submitted on 11-August 1987 by the Technisches Kontor fiir' die Maschinen-B-U- Versicherung GmbH for negative clearance or for exemp- tion under Article 85 (3) of the EEC Treaty of the agree- ment and the cooperation put into effect relating to machinery loss of profits insurance and of the addendum on the inclusion of space insurance, ’ Having published a summary of the agreement and of the cooperation put into effect between the relevant underta- kings based thereon (%) pursuant to Article 19 (3) of Regu- lation No 17, Having consulted the Advisory Committee on Restrictive Practices and Dominant Positions, Whereas : I. THE FACTS. ()  On 11 August 1987, the Technisches Kontor fiir die Maschinen-B-U-Versicherung (TEKO) notified () OJ No 13, 21. 2. 1962, p. 204/62. () OJ No C 203, 8. 8. 1989, p. 2. &) 3 an agreement on cooperation in machinery loss of profits insurance concluded on 6 March 1981 by 17 of the companies concerned (three companies joined later) initially for one year, but automatically renewed from year to year unless express notice of termination is given (six months before expiry). As from 1 June 1988, space insurance was included in - the agreement by an addendum -dated 11 August 88. TEKO is a limited company, the registered office of which is in Diisseldorf. Its shareholders are six insurance undertakings. In addition, TEKO coope- rates with three other pool members and 11 other so-called ‘friendly’ companies. TEKO has a small staff. There are not staffing links with the various companies. 1. Cooperation in machinery loss of profits insurance- TEKO was established in 1954 for the purpose of joint and mutual reinsurance of machinery loss of profits insurance risks and the advising of the companies concerned in the conclusion and handling of such insurance. Machinery loss- of profits insurance is insurance against financial loss incurred through the interruption of business due to the failure of technical equipment and -machi- nery as a result of unforeseen occurences (technical - defects). There are 49 undertakings operating in the machinery loss of profits insurance market in the Federal Republic of Germany. In 1988, there were