OpenLegislation

Article 4

United Kingdom

Original text. Later amendments are not shown.

The Member States shall authorise the EIB to transfer the sums received from the Democratic Republic of Congo directly to an account opened in the name of the Commission, after deduction of any commission due to the Bank on such operations. Any interest accruing on the amount transferred into the account will be capitalised. F1The deadline for committing the funds deposited on this account shall be 31 December 2007 , as per Decision 2005/446/EC. On the completion of all operations funded from the allocation, the bank account will be closed and any remaining funds will be refunded to Member States. The account will be closed no later than 31 December 2011 .

This procedure is exceptional in nature and may not, in any event, constitute a precedent for operations benefiting other ACP States.

Annotations

Textual amendments

F1

Substituted by Council Decision of 7 November 2006 amending Decision 2003/583/EC on the reallocation of funds received by the European Investment Bank for operations carried out in the Democratic Republic of Congo under the second, third, fourth, fifth and sixth EDFs (2006/768/EC).