462 COMPETITION LAW IN TOURISM IDE, IP-RAM is responsible for the total or partial payment of the interest on the loans, the guarantee premiums and the repayment of principal up to the amounts foreseen in the de minimis regulation and other applicable rules, provided that the beneficiaries maintain their permanent workforce for a period of 18months fromthe date of execution of the loan agreement132. Implementation of other credit lines which were an important support for the undertakings of Madeira have followed.133 There were also some measures adopted at a national level under the de minimis regulation. For example, Turismo de Portugal launched a credit line to tackle the working capital needs of micro enterprises on the tourism sector operating in the national territory, due to the temporary reduction of demand134. The maximum amount which enterprises may obtain under this credit line corresponds to 750 € per month, per each work post existing on 29 February 2020in respect of micro enterprises or EUR 750 per month, per each work post existing on 30 November 2020, in respect of small enterprises, multiplied by a period of 3 months, up to the maximum amount of EUR 20 000 or EUR 30 000, respectively. . The loan has a maximum period of 3 years, including a grace period of 12 months and does not bear interest. The amount corresponding to 20% of the aid amount calculated in the terms above referred may be converted in a non-refundable aid provided that on 20 September 2021, and in comparison with 29 February 2020 (in respect of micro enterprises) or 30 November 2020 (in respect of small enterprises) the relevant enterprise has not terminated employment contracts under the terms of collective dismissal, dismissal due to extinction of the job or dismissal due to unsuitability, or initiate the respective procedures. In order to be eligible beneficiaries, enterprises must, inter alia, (i) make proof that their situation regarding the tax authorities, social security and Turismo de Portugal are normalised; (ii) be duly licensed and registered in the National Registry of Tourism, if legally required; and (iii) demonstrate that their activity has been negatively impacted by the COVID-19 outbreak. 132 Information available at: http://www.ideram.pt/Content/PaginasPublicas/Servicos-IDE-apoios-2014-2020Instrumentos-Financeiros-INVESTERAM2020-COVID19. 133 http://www.ideram.pt/Content/PaginasPublicas/Servicos-IDE-apoios-2014-2020-Instrumentos-FinanceirosINVESTERAM2020-COVID19v2; and http://www.ideram.pt/Content/PaginasPublicas/Servicos-IDE-apoios2014-2020-Instrumentos-Financeiros-INVESTERAM2020-COVID19v3. 134 Enacted by Normative Order no. 1/2021, of 11 January amended by Normative Order no. 4/2020, of 20 March and Normative Order no. 8/2021, of 3 March.
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