No L 76/18 Official Journal of the European Communities 22. 3. 88 (Acts whose publication is not obligatory) COMMISSION COMMISSION DECISION of 7 October 1987. concerning Law 1386/1983 by which the Greek Government grants aid to Greek ' industry (Only the Greek text is suthent.ic) (88/167/EEC) THE COMMISSION OF THE EUROPEAN‘COMI\JUNI’I’IES, Having regard to the Treaty establishing the European Economic Community, and in particular the first subparagraph of Article 93 (2) thereof, Having given notice in accordance with the above Article to interested parties to submit their comments and having regard to these comments, - Whereas : By Decision of 29 October 1986 communicated to the Greek Government by letter dated 17 November 1986 (SG (86) D/1317) the Commission informed the Greek Government that it had opened the procedure pursuant to the first paragraph of Article 93 (2) of the EEC Treaty in respect of Law 1386/1983 for the organization for the financial reconstitution of undertakings. (*) Law 1386/1983 creates an organization for the financial reconstitution of undertakings. This organization operates under the name of Business Reconstruction Organization SA (BRO). The purpose of the BRO is to contribute to the social and economic development of the country through the financial rejuvenation of undertakings pursuant to Law 1386/1983; the import and application of foreign technology and the development of Greek-based technology ; the establishment and operation of socialized or mixed economy undertakings. ' () OJ No C 332, 24. 12. 1986, p. 2. For the purposes of carrying out these objectives the BRO may take over the administration and operational handling of undertakings undergoing rejuvenation or socialized undertakings; participate in the capital of existing undertakings or of undertakings which may be brought into being; grant loans of all kinds to undertakings in which it has a participatory interest and likewise provide guarantees for the security of such loans ; issue bonded loans in Greece or abroad subject to the conditions and procedures laid down in the relevant provisions ; acquire bonds issued by the State or by the organizations controlled by the State and likewise loan agreements ' issued by undertakings, organizations and banks ; make over shares, in particular to employees or their representative bodies, to local government bodies or other legal persons in public law, to charitable institutions, to social bodies or private persons ; take out loans from the Greek State, the Bank of Greece or other financial institutions in Greece or abroad, guaranteed or unguaranteed by the Greek state and accept deposits from legal persons in public law, public organizations and undertakings in which it has a participatory interest. - An undertaking is made subject to the applications of the law and controlled by the BRO by decision of the Minister for the National Economy following the rendering of an opinion by an advisory committee. This may occur when any one or more of the following conditions are met: the company has suspended or ceased trading for financial reasons; it has stopped making payments ; it has been placed in receivership or is under temporary administration or in any form of liquidation; it has debts - five times the sum of its company capital and visible reserves and is manifestly unable to meet its obligations ; it is of interest to national