Article 18 Payment of the transitional aid to full-time refiners
United Kingdom
Within the limits referred to in Article 8(2) of Regulation (EC) No 320/2006, the payments of the transitional aid to full-time refiners, for eligible expenses on the basis of a business plan, shall be made by the Member State to the beneficiaries in two instalments:
40 % in September 2007;
60 % in March 2008.
The payment of each instalment shall be subject to the lodging of a security of an amount equal to 120 % of the amount of the instalment concerned.
By way of derogation from paragraph 1, the total expenses may be covered by one single payment in September 2007, provided that, before 15 September 2007:
all of the measures and actions foreseen in the business plan have been executed;
the final report referred to in Article 24(2) has been submitted;
the Member State has carried out the controls referred to in Article 25.
The payment shall in this case not be subject to the lodging of a security.