{
  "url": "https://openlegislation.uk/eu-regulation-2016-1157/article-1",
  "json_url": "https://openlegislation.uk/eu-regulation-2016-1157/article-1.json",
  "legislation": "eur/2016/1157",
  "legislation_title": "Commission Implementing Regulation (EU) 2016/1157 of 11 July 2016 amending Implementing Regulation (EU) No 964/2014 as regards standard terms and conditions for financial instruments for a co-investment facility and for an urban development fund",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2016-1157",
  "path": "article/1",
  "kind": "article",
  "number": "1",
  "heading": null,
  "text": "Implementing Regulation (EU) No 964/2014 is amended as follows:\n(1) Article 1 is replaced by the following:\n‘Subject matter\nArticle 1 This Regulation lays down rules concerning the standard terms and conditions for the following financial instruments:\n(a) a portfolio risk sharing loan (“RS Loan”);\n(b) a capped portfolio guarantee;\n(c) a renovation loan;\n(d) a co-investment facility;\n(e) an Urban Development Fund.’;\n(2) in Article 3 the title is replaced by the following:\n‘Article 3 Grants under the standard terms and conditions’;\n(3) the following Articles 8a and 8b are inserted:\n‘Co-investment Facility\nArticle 8a 1. The Co-investment Facility shall take the form of an equity fund managed by a financial intermediary investing contributions from the European Structural and Investment Funds (ESIF) programme into small and medium-sized enterprises (SMEs). The Co-investment Facility shall attract additional investments in SMEs through a partnership approach with private co-investors on a deal by deal basis.\n2. The Co-investment Facility shall comply with the terms and conditions set out in Annex V.\nUrban Development Fund\nArticle 8b 1. The Urban Development Fund shall take the form of a loan fund and shall be set up and managed by a financial intermediary with contributions from the ESIF programme and a mobilisation of co-financing of at least 30 % from the financial intermediary and co-investors. The Urban Development Fund shall finance and support implementation of urban development projects in assisted areas which are designated in a regional aid map for the period 1 July 2014 to 31 December 2020 in accordance with points (a) and (c) of Article 107(3) of the Treaty, as well as mobilise co-investment from private sources.\n2. The Urban Development Fund shall comply with the terms and conditions set out in Annex VI.’;\n(4) Annexes V and VI as set out in the Annex to this Regulation are added.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2016/1157/article/1",
    "retrieved_at": "2026-11-01T14:45:41.249038+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}