28.5.1999 Official Journal of the European Communities L 133/57 COMMISSION COMMISSION DECISION of 14 October 1998 concerning the application by Italy of the aid scheme provided for by Law No 1329/65 (Legge Sabatini) for the processing and marketing of agricultural products (notified under document number C(1998) 3213) (Only the Italian text is authentic) (1999/349/EC) THE COMMISSION OF THE EUROPEAN COMMUNITIES, Having regard to the Treaty establishing the European Community, and in particular the first subparagraph of Atrticle 93(2) thereof, Having given notice to the parties concerned to submit their comments in accordance with the above Article (!), Whereas: I. PROCEDURE By letter dated 12 September 1997, the Italian Permanent Representative to the European Union, in accordance with Article 93(3) of the Treaty, forwarded to the Commission the text of Article 12(1) and (4) of Law No 266 of 7 August 1997 on refinancing the aid referred to in law No 1329 of 28 November 1965 (the ‘Legge Sebatini’). As indicated above, this notice covers only the application of the provisions in question to the processing and marketing of agricultural products. By letter dated 17 February 1998, the Commission notified the Italian authorities of its decision to open the procedure provided for by Article 93(2) of the Treaty with respect to the application of the aid measures referred to in Law No 1329/65 in the sector concerned. () OJ C 100, 2.4.1998, p. 17. ) ©) The decision to open the procedure was published in the Official Journal of the European Communities. The Commission gave notice to the other Member States and interested parties to submit their comments on the aid. The Commission received no comments from the other Member States or interested parties. The Italian authorities submitted comments by letter dated 2 April 1998. By letter dated 8 September 1998, the Commission asked for further details which were supplied by letter dated 16 September 1998. II. DESCRIPTION OF THE AID AND THE REASONS WHY THE COMMISSION DECIDED TO OPEN THE PROCEDURE Law No 1329/65 (the refinancing of which is the subject of this Decision) provides for aid for invest- ment in the purchase of machinery and technical equipment. The aid is granted for hire purchase of machinery and equipment and consists of reductions on interest rates for discounting bills of exchange signed by the purchaser in favour of the seller. The aid consists of the difference between the net receipt calculated at the reference discount rate valid on the day discounting takes place and the net receipt calculated at the reduced discount rate.