OpenLegislation

Article 1

United Kingdom

Original text. Later amendments are not shown.

The third subparagraph of Article 5 of Regulation (EEC) No 1883/78 is hereby replaced by the following:

‘By way of derogation from the first subparagraph, if the interest rate borne by a Member State is more than twice the uniform interest rate, the Commission may, for the financial years 2005 and 2006, in financing the interest costs incurred by that Member State, cover the amount which corresponds to the uniform rate of interest plus the difference between double that rate and the actual rate borne by the Member State.’