Article 44 Holding fundsX1F3

as regards financial engineering instruments supporting enterprises, primarily SMEs, including micro-enterprises, the conclusions of an evaluation of gaps between supply of such instruments, and demand for such instruments;

as regards urban development funds, urban development studies or evaluations and integrated urban development plans included in operational programmes ;

as regards funds or other incentive schemes for energy efficiency and use of renewable energy in buildings, including in existing housing the relevant Union and national regulatory frameworks and the relevant national strategies.

the terms and conditions for contributions from the operational programme to the holding fund;

calls for expression of interest addressed to financial engineering instruments in accordance with applicable rules;

the appraisal and selection of financial engineering instruments by the holding fund;

the setting up and monitoring of the investment policy or the targeted urban development plans and actions;

reporting by the holding fund to Member States or managing authorities;

monitoring of the implementation of investments;

audit requirements;

an exit policy for the holding fund out of the financial engineering instruments;

the provisions for the winding-up of the holding fund, including the reutilisation of resources returned from investments made or left over after all guarantees have been honoured which are attributable to the contribution from the operational programme.