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Article 44 Re-use of resources attributable to the support from the ESI Funds until the end of the eligibility periodRe-use of resources attributable to the support for rural developmentF4F1

Wales

Original text. Later amendments are not shown.

1.

Without prejudice to Article 43a, resources paid back to financial instruments from investments or from the release of resources committed for guarantee contracts, including capital repayments and gains and other earnings or yields, such as interest, guarantee fees, dividends, capital gains or any other income generated by investments, which are attributable to F2support for rural development, shall be re-used for the following purposes, up to the amounts necessary and in the order agreed in the relevant funding agreements:

(a)

further investments through the same or other financial instruments, in accordance with the specific objectives set out under a priority;

(b)

where applicable, to cover the losses in the nominal amount F3contribution from support for rural development to the financial instrument resulting from negative interest, if such losses occur despite active treasury management by the bodies implementing financial instruments;

(c)

where applicable, reimbursement of management costs incurred and payment of management fees of the financial instrument.

X12.

The managing authority shall ensure that adequate records of the re-use of the resources referred to in paragraph 1 are maintained.

Annotations

Textual amendments

F1

Substituted by Regulation (EU, Euratom) 2018/1046 of the European Parliament and of the Council of 18 July 2018 on the financial rules applicable to the general budget of the Union, amending Regulations (EU) No 1296/2013, (EU) No 1301/2013, (EU) No 1303/2013, (EU) No 1304/2013, (EU) No 1309/2013, (EU) No 1316/2013, (EU) No 223/2014, (EU) No 283/2014, and Decision No 541/2014/EU and repealing Regulation (EU, Euratom) No 966/2012.

F2

Words in Art. 44(1) substituted (31.12.2020) by The European Structural and Investment Funds Common Provisions (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/785), regs. 1, 8(8)(a) (as amended by S.I. 2020/1542, regs. 1(2), 13(6)(f)(i)); 2020 c. 1, Sch. 5 para. 1(1)

F3

Words in Art. 44(1)(b) substituted (31.12.2020) by The European Structural and Investment Funds Common Provisions (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/785), regs. 1, 8(8)(b) (as amended by S.I. 2020/1542, regs. 1(2), 13(6)(f)(ii)); 2020 c. 1, Sch. 5 para. 1(1)

F4

Art. 44 heading substituted (W.) in so far as it relates to domestic support for rural development (26.3.2021) by The Agricultural Support (Miscellaneous Amendments) (Wales) (EU Exit) Regulations 2021 (S.I. 2021/400), regs. 1(2), 6(18)

Editorial notes

X1

Substituted by Corrigendum to Regulation (EU) No 1303/2013 of the European Parliament and of the Council of 17 December 2013 laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries Fund and repealing Council Regulation (EC) No 1083/2006 (Official Journal of the European Union L 347 of 20 December 2013).

Notes on the whole EU Regulation

Textual amendments

F1

Regulation revoked in so far as relating to the European Maritime and Fisheries Fund (31.12.2020) by The Common Fisheries Policy (Amendment etc.) (EU Exit) Regulations 2020 (S.I. 2020/1542), reg. 1(3), Sch. Pt. 2

Notes on Part TWO

Textual amendments

F1

Pt. 2 heading substituted (31.12.2020) by The European Structural and Investment Funds Common Provisions (Amendment) (EU Exit) Regulations 2019 (S.I. 2019/785), regs. 1, 5(1) (as amended by S.I. 2020/1542, regs. 1(2), 13(3)(a)); 2020 c. 1, Sch. 5 para. 1(1)