Article 1

Article 12 of the Statutes of the Bio-based Industries Joint Undertaking, as set out in the Annex to Regulation (EU) No 560/2014, is amended as follows:

1. (1)

   in paragraph 3, point (b) is replaced by the following:

   ‘(b)

   financial contributions by the members other than the Union or their constituent entities;’;

2. (2)

   paragraph 4 is replaced by the following:

   ‘4.

   The financial contributions by the members other than the Union or their constituent entities to the operational costs referred to in paragraph 3(b) shall be at least EUR 182 500 000 over the period provided for in Article 1 of this Regulation.

   These financial contributions shall be made as payments to the BBI Joint Undertaking or as financial contributions to indirect actions funded by the BBI Joint Undertaking.’.