President signed offset law - News - National Security Bureau


President signed offset law

On 7 July 2014, President Bronisław Komorowski signed an offset law which adjusts Polish legislation in this sphere to EU laws. The new law shifts offset agreements compensating foreign defence purchases from the Ministry of Economy to the Ministry of National Defence.

Under EU offset legislation offset deals are not regarded as an income but an exceptional revenue acceptable for state security reasons. The new law also abolishes a to-date EUR 5 million value threshold for offset contracts, which will be acceptable for deals below that amount.

The empowerment to seal offset deals will be moved from the Economy Minister to the National Defence Minister.

Passed last month, the new offset law will replace a 1999 act.

Source: PAP