Legal provisions of COM(2011)483 - Amendment of Council Regulation (EC) No 1083/2006 as regards repayable assistance and financial engineering

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dossier COM(2011)483 - Amendment of Council Regulation (EC) No 1083/2006 as regards repayable assistance and financial engineering.
document COM(2011)483 EN
date December 13, 2011

Contents

Article 1

Regulation (EC) No 1083/2006 is hereby amended as follows:

(1)in Article 2, the following points are added:

‘(8)   “reimbursable grant”: a direct financial contribution by way of a donation, which can be totally or partially reimbursable, without interest.

(9) “credit line”: a financial facility allowing the beneficiary to draw down the financial contribution, which can be totally or partially reimbursable, in relation to the expenditure paid by the beneficiary and supported by receipted invoices or accounting documents of equivalent probative value.’;

(2)in Title III, Chapter II, the following section is inserted:

‘SECTION 3A

Repayable assistance

Article 43 - a Forms of repayable assistance

1. As part of an operational programme, the Structural Funds may co-finance repayable assistance in the form of:

(a)reimbursable grants; or

(b)credit lines managed by the managing authority through intermediate bodies which are financial institutions.

2. The statement of expenditure concerning repayable assistance shall be submitted in accordance with Article 78(1) to (5).

Article 43 - b Reuse of repayable assistance

Repayable assistance, repaid to the body that provided that assistance or to another competent authority of the Member State, shall be reused for the same purpose or in line with the objectives of the relevant operational programme. Member States shall ensure that an adequate record of the repayable assistance repaid is shown in the accounting system of the appropriate body or authority.’;

(3)the following article is inserted:

‘Article 44a

Non-application of certain provisions

Articles 39, 55 and 57 shall not apply to operations falling under Article 44.’;

(4)Article 67 is amended as follows:

(a)in the first subparagraph of paragraph 2, the following point is added:

‘(j)the progress made in financing and implementing the financial engineering instruments as defined in Article 44, namely:

(i)a description of the financial engineering instrument and implementation arrangements;

(ii)identification of the entities which implement the financial engineering instrument, including those acting through holding funds;

(iii)amounts of assistance from the Structural Funds and national co-financing paid to the financial engineering instrument;

(iv)amounts of assistance from the Structural Funds and national co-financing paid by the financial engineering instrument.’;

(b)the following paragraph is added:

‘5.   By 1 October each year, the Commission shall provide a summary of the data, on the progress made in financing and implementing the financial engineering instruments, sent by the managing authorities in accordance with Article 67(2)(j).’;

(5)the following article is inserted:

‘Article 78a

Requirement to provide additional information in the statement of expenditure regarding financial engineering instruments and advances paid to the beneficiaries in the context of State aid

An attachment to each statement of expenditure to be submitted to the Commission, in the format set out in Annex V, shall indicate the following information in relation to the total expenditure included in the statement of expenditure:

(a)as regards financial engineering instruments as defined in Article 44, and set out in Article 78(6), the total expenditure paid in establishing or contributing to such funds or holding funds and the corresponding public contribution;

(b)as regards advances paid in the context of State aid in accordance with Article 78(2), the total expenditure paid as an advance to the beneficiaries by the body granting the aid and the corresponding public contribution.’;

(6)the text set out in the Annex to this Regulation shall be added as Annex V to Regulation (EC) No 1083/2006.

Article 2

This Regulation shall enter into force on the third day following its publication in the Official Journal of the European Union.

Points (1), (2) and (3) of Article 1 shall apply retroactively from 1 January 2007.

This Regulation shall be binding in its entirety and directly applicable in all Member States.