Legal provisions of COM(2011)481 - Amendment of Council Regulation (EC) No 1698/2005 as regards certain provisions relating to financial management for certain Member States experiencing or threatened with serious difficulties with respect to their financial stability - Main contents
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This page contains a limited version of this dossier in the EU Monitor.
| dossier | COM(2011)481 - Amendment of Council Regulation (EC) No 1698/2005 as regards certain provisions relating to financial management for certain ... |
|---|---|
| document | COM(2011)481  |
| date | December 19, 2011 |
Article 1
‘4c. By way of derogation from the ceilings set out in paragraphs 3, 4 and 5, the EAFRD contribution may be increased up to a maximum of 95 % of eligible public expenditure in the regions eligible under the Convergence Objective and the outermost regions and the smaller Aegean Islands, and 85 % of eligible public expenditure in other regions. These rates shall apply to the eligible expenditure newly declared in each certified declaration of expenditure incurred during the period in which a Member State complies with one of the following conditions:
| (a) | financial assistance is made available to it under Council Regulation (EU) No 407/2010 of 11 May 2010 establishing a European financial stabilisation mechanism (12) or is made available to it by other euro area Member States before the entry into force of that Regulation; |
| (b) | medium-term financial assistance is made available to it in accordance with Council Regulation (EC) No 332/2002 of 18 February 2002 establishing a facility providing medium-term financial assistance for Member States’ balances of payments (13); |
| (c) | financial assistance is made available to it in accordance with the Treaty establishing the European Stability Mechanism. |
A Member State wishing to make use of the derogation provided for in the first subparagraph shall submit a request to the Commission to modify its rural development programme accordingly. The derogation shall apply from the approval, by the Commission, of the modification of the programme, and shall cease to apply once the Member State no longer fulfils any of the conditions set out in points (a), (b) or (c) of the first subparagraph. In any event, the derogation provided for in the first subparagraph shall apply only to expenditure incurred by the paying agencies until 31 December 2013.
When the derogation provided for in the first subparagraph ceases to apply, the Member State shall send the Commission a proposal for modification of the programme, including a new financing plan that complies with the maximum rates applicable before the derogation.
If a Member State does not submit to the Commission a proposal for modifying its rural development programme, including a new financing plan, on the date that the derogation ceases to apply in accordance with the second subparagraph, or if the financing plan notified does not comply with the maximum rates laid down in paragraphs 3, 4 and 5, those rates shall become automatically applicable from that date.
Article 2
This Regulation shall be binding in its entirety and directly applicable in all Member States.