One of the main focal points of the nautical charter in the North Mediterranean is the Costa Dourada Station, the Nàutic Cambrils Club

The Royal Decree-Law 5 / 2021, which entered into force last Saturday, was published in the BOE, in which the Government takes extraordinary measures to support corporate solvency by creating three funds to support viable, non-financial companies whose property situation has deteriorated as a result of the pandemic.

The objective of this new rule is to "to protect the productive fabric until a percentage of vaccination is achieved to restore confidence and economic activity in those sectors that still have restrictions; to avoid a structural negative impact that is detrimental to the recovery of the Spanish economy; to protect employment in the sectors most affected by the pandemic; and to act in a preventive manner to avoid a higher negative impact on public finances and the balance sheets of the financial system."

The business activities eligible for this aid include "the rental of means of navigation" (CNAE 7734), as set out in Annex I to the newly published RD Law. The above-mentioned funds are set out in three lines of aid, which the rule contains in three headings:

Covid line of direct aid to self-employed persons and companies (with €7 billion)
- They are finalist and must be used for the payment of debts incurred by companies since 1 March 2020.
- intended for companies with registered offices in Spanish territory, whose annual volume of operations in 2020 has fallen by at least 30% from 2019 and whose activity is included in one of the CNAE codes set out in Annex I to this Act (including CNAE 7734 "Rental of means of navigation").

Covid financial debt restructuring line (with €3 billion)
- Measures to support and flexibly support loans which have been granted and which have been granted from 17 March 2020;
- Extension of the maturity periods of the financing operations that have received public support.
- Conversion of these loans into participatory loans, while maintaining public guarantee coverage
- Action of last resort, of an exceptional nature: Transfers for the reduction of the principal of the funded financing, within an agreement reached with the lending financial institutions.
- intended for companies with a registered office in Spain, which have signed public support financing operations and which meet the eligibility criteria to be established by agreement of the Council of Ministers. A Code of Good Practice shall be adopted for the articulation of these measures.

Covid-affected companies recapitalisation fund (EUR 1 billion)
- It will be managed by the state commercial company COFIDES, S.A., will consist of the granting of aid under various financial instruments of debt, capital and quasi-capital.
- For viable companies with a registered office in Spain that cannot access the fund managed by the State Society of Industrial Participation (SEPI) for larger companies and operations (Real Decreto-Law 25 / 2020) and which meet the eligibility criteria to be established by the Council of Ministers Agreement.

It is important to note that the receipt of all these aid will be subject, inter alia, to the fact that the receiving company is aware of the payments of the tax and social security obligations, is not in competition, is not domiciled in a tax paradise, is active until 30 June 2022, and does not divide or increase the salaries of its management team for a period of two years (Additional provision 4).