Article 16 Payment of the restructuring aid

The payment of the each instalment of the restructuring aid, as referred to in Article 10(4) of Regulation (EC) No 320/2006, shall be subject to the lodging of a security of an amount equal to 120 % of the amount of the instalment concerned.

F1However, where the competent authority of the Member State is satisfied that the conditions laid down in Article 22(1) are fulfilled prior to the payment of any of the instalments, that payment shall not be subject to the lodging of a security.

In the case where the payments to growers and machinery contractors are carried out directly by the Member State in accordance with Article 19(2), the amount of the instalment concerned shall be reduced by the amounts to be paid to the growers and machinery contractors.

The restructuring aid shall not be paid later than 30 September 2011.

If appropriate, the Commission shall fix, by 31 January 2008, 2009, 2010 and 2011, the percentage of the first and second payments referred to in the second subparagraph of Article 10(4) of Regulation (EC) No 320/2006, as well as the provisional date for the second payment.