Article 2 Financial contribution — Methods of payment
For the period referred to in Article 1, the financial contribution referred to in Article 7 of the Fisheries Partnership Agreement shall be EUR 2 047 500.
The financial contribution comprises:
an annual amount for access to the EEZ of São Tomé and Príncipe of EUR 455 000, equivalent to a reference tonnage of 7 000 tonnes per year; and
a specific amount of EUR 227 500 per year to support the implementation of the sectoral fisheries policy of São Tomé and Príncipe.
Paragraph 1 shall apply subject to Articles 3, 4, 5, 8 and 9 of this Protocol and Articles 12 and 13 of the Fisheries Partnership Agreement.
The European Union shall pay the financial contribution referred to in paragraph 1 at the rate of EUR 682 500 per year during the period of application of this Protocol, corresponding to the total of the annual amounts referred to in paragraph 2(a) and (b).
If the overall quantity of catches by European Union vessels in São Toméan waters exceeds 7 000 tonnes per year, the total amount of the annual financial contribution shall be increased by EUR 65 for each additional tonne caught. However, the total annual amount paid by the European Union shall not be more than twice the amount indicated in paragraph 2(a). Where the quantities caught by European Union vessels exceed the quantities corresponding to twice the total annual amount, the amount due for the quantity exceeding that limit shall be paid the following year.
Payment shall be made no later than sixty (60) days after the entry into force of the Protocol, as specified in Article 14, for the first year and no later than the anniversary date of this Protocol for the following years.
The São Toméan authorities shall have full discretion regarding the use to which the financial contribution referred to in paragraph 2(a) is put.
The entire financial contribution indicated in paragraph 1 of this Article shall be paid into a Public Treasury account opened with the National Bank of São Tomé and Príncipe.