105Third, the applicants observe that Commission Decision 1999/719/EC of 30 March 1999 on State aid which France is planning to grant as development aid in the sale of two cruise vessels to be built by Chantiers de l'Atlantique and operated by Renaissance Financial in French Polynesia (OJ 1999 L 292, p. 23; ‘the Renaissance decision’), which found that aid which the French Republic intended to grant in the form of tax concessions granted to private investors under the Loi Pons was compatible with the common market, adopts this distinction between investor and operator, because it states that Renaissance Financial, and not the individual investors (natural persons), had to be regarded as the effective beneficiary of the aid. The Renaissance decision also states that the effective beneficiary of the aid would be the shipyard if the conditions laid down in the decision were not complied with, in particular if the aid proved to be contrary to Article 4(7) of the Seventh Directive. Regarding the application of the OECD criteria, in particular the condition of residency of the actual owner and the condition that the undertaking which is the beneficiary of the aid must not be a non-operational subsidiary of a foreign company, neither the Renaissance decision, nor Commission Decision 92/569/EEC of 31 July 1992 concerning proposed aid by Germany to the Chinese shipping company Cosco for the construction of container vessels (OJ 1992 L 367, p. 29; ‘the Cosco decision’), nor the decision to open the procedure in the present case identifies the investors concerned as actual owners of the vessel or as beneficiaries of the aid.
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