Division 1 Referring to Article 11(1) of the Protocol, the financial compensation shall be payable annually at the beginning of each fishing year.

Referring to Article 11(5) of the Protocol, the financial compensation is, with the revision, composed of two segments: the EC financial compensation and the shipowners licence fees.

The amounts expected to be obtained by Greenland through licence fees paid by shipowners will be deducted from the EC financial compensation.