12.12.2014 Official Journal of the European Union L 357/89 COMMISSION DECISION of 11 March 2014 on State aid SA.34445 (12/C) implemented by Denmark for the transfer of property-related assets from FIH to the FSC (notified under document C(2014) 1280) (Only the English text is authentic) (Text with EEA relevance) (2014/884/EV) THE EUROPEAN COMMISSION, Having regard to the Treaty on the Functioning of the European Union, and in particular the first subparagraph of Article 108(2) thereof, Having regard to the Agreement on the European Economic Area, and in particular Article 62(1)(a) thereof, Having called on Member States and other interested parties to submit their comments pursuant to those provisions (1), Whereas: 1. PROCEDURE (1)~ On 30 June 2009, Denmark injected DKK 1,9 billion as Tier 1 hybrid capital into FIH Erhvervsbank A[S including its subsidiaries (FIH') under the Danish Act on State-Funded Capital Injections (). (2)  On 6 March 2012 Denmark notified a package of measures in favour of FIH. By decision of 29 June 2012 (‘the Rescue and Opening Decision’) (}) the Commission approved those measures (*) on a temporary basis finding that them compatible with the internal market. (3) At the same time the Commission initiated the procedure laid down in Article 108(2) of the Treaty on the Functioning of the European Union (‘the Treaty) because of doubts with regard to the appropriateness of the measures, the limitation of the aid to the minimum necessary and the own contribution of the bank, in particular in view of the potentially low remuneration of the impaired asset measures granted in favour of FIH. (40 On 2 July 2012 FIH paid back the capital of DKK 1,9 billion it had received in 2009 under the Danish Act on State-Funded Capital Injections (°). (5)  In line with the Rescue and Opening Decision Denmark submitted a restructuring plan on 4 January 2013 () which it subsequently modified. On 24 June 2013 Denmark submitted the final update of that plan (the restructuring plan’). (6)  On 3 February 2014 Denmark submitted a term sheet setting out the terms for the restructuring of FIH, which Denmark has committed to implement (the ‘commitments’). () OJ C 359, 21.11.2012, p. 1. (%) ‘Act on State-Funded Capital Injections’ (lov om statsligt kapitalindskud) means the Act Number 67 of 3 February 2009 and executive orders issued under it. The Act was approved by Commission Decision of 3 February 2009 (O] C 50, 3.3.2009, p. 4). (*) Commission Decision of 29 June 2012 in case SA.34445 (2012/C) (ex 2012/N) (OJ C 359, 21.11.2012, p. 1). (*) Those aid measures are described in detail in recitals 10 to 23 of the Rescue and Opening Decision. (°) See recital 1. (%) The plan was subject to subsequent amendments.