# Council Decision of 20 December 2000 on a multiannual programme for enterprise and entrepreneurship, and in particular for small and medium-sized enterprises (SMEs) (2001-2005) (2000/819/EC), Division H: Trust account

Extent: E+W+S+N.I.

A separate trust account will be set up within the EIF to hold budgetary funds underpinning the scheme. This account will be interest-bearing; interest earned will be added to the resources of the facility. The investments made by the EIF under the ETF Start-up scheme and the EIF's management fees and other eligible expenses will be debited from, and the proceeds from realised investments will be credited to, the Trust Account. At the end of the fourth year following 20 December 2000 or, provided that the reinvestment period of the scheme is extended, after the end of the extended reinvestment period, any balances on the Trust Account, other than funds committed and not yet drawn down/invested and funds reasonably required to cover eligible costs and expenses, such as the EIF's management fee, will be returned to the general budget of the European Union.

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Source: https://www.legislation.gov.uk/eudn/2000/819/annex/II/division/I/division/H (the official version)
Page: https://openlegislation.uk/eu-decision-2000-819/annex-II/division-I/division-H
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.