Article 4

United Kingdom

Cyprus shall recover the aid referred to in Article 3 from the beneficiary, CSK.

The sums to be recovered shall bear interest from the date on which they were put at the disposal of the beneficiary until their actual recovery.

The interest shall be calculated on a compound basis in accordance with Chapter V of Commission Regulation (EC) No 794/2004^f1 and to Commission Regulation (EC) No 271/2008^f2 amending Regulation (EC) No 794/2004.

Cyprus shall cancel all outstanding payments of the aid referred to in Article 3 with effect from the date of adoption of this decision.

Annotations

Footnotes

f1: Commission Regulation (EC) No 794/2004 of 21 April 2004 implementing Council Regulation (EU) 2015/1589 laying down detailed rules for the application of Article 108 of the Treaty on the Functioning of the European Union (OJ L 140, 30.4.2004, p. 1).
f2: Commission Regulation (EC) No 271/2008 of 30 January 2008 amending Regulation (EC) No 794/2004 implementing Council Regulation (EC) No 659/1999 laying down detailed rules for the application of Article 93 of the EC Treaty (OJ L 82, 25.3.2008, p. 1).