### to this end , this regulation should impose a once - off duty on the person making the product for the exclusive purpose of export , requiring that person to provide certain information to the authority which granted the supplementary protection certificate in the member state where the making is to take place . the information should be provided before the making is intended to start for the first time in that member state . the making and related acts , including those performed in member states other than the one of making in cases where the product is protected by a certificate in those other member states too , should only fall within the scope of the exception where the maker has sent this notification to the competent industrial property authority of the member state of making . the once - off duty to provide information to the authority should apply in each member state where making is to take place , both as regards the making in that member state , and as regards related acts , whether performed in that or another member state , related to that making . the authority should be required to publish that information , in the interests of transparency and for the purpose of informing the holder of the certificate of the maker’s intention . ### to this end , to the extent it intends to rely on the exception and in the interest of transparency , the person responsible for the making , or any person acting on its behalf should provide , on a confidentiality basis , a warning letter to the registered holder of the certificate , at its registered address . the maker should also provide to the authority which granted the supplementary protection certificate in the member state , a notification with certain information before the making is intended to start for the first time . the making and related acts , including those performed in member states other than the one of making in cases where the product is protected by a certificate in those other member states too , would altogether fall within the scope of the exception , provided that the maker has sent the warning letter and the notification respectively to the holder of the certificate and to the competent industrial property authority of in the member state of making . the notification should apply in each member state where making is to take place , both as regards the making in that member state , and as regards related acts , whether performed in that or another member state , related to that making .


### the release of political prisoners on 22 august 2015 was an important step , which together with several positive initiatives undertaken by the republic of belarus over the last two years contributed to the improvement of relations between the european union and the republic of belarus . ### the release of political prisoners on 22 august 2015 was an important step , which together with several positive initiatives undertaken by the republic of belarus over the last two years , such as resumption of the eu - belarus human rights dialogue , contributed to the improvement of relations between the european union and the republic of belarus .


### these positive political developments between the european union and the republic of belarus should be recognised and bilateral relations further improved . accordingly , the present regulation repeals the autonomous quotas on imports of textiles and clothing originating in the republic of belarus , provided for in annexes ii and iii of regulation 2015 / 936 . ### the recent political developments in the republic of belarus are rather positive and could contribute to improvement of bilateral relations with the eu . accordingly , the present regulation repeals the autonomous quotas on imports of textiles and clothing originating in the republic of belarus , provided for in annexes ii and iii of regulation 2015 / 936 .


### the limited use of the autonomous quotas on imports of textiles and clothing originating in the republic of belarus implies that the removal of those quotas will have a limited impact on eu trade . ### the removal of the autonomous quotas on imports of textiles and clothing originating in the republic of belarus implies that the quotas on outward processing traffic are no longer necessary . as a result , recital 5 , article 4 , chapter v on outward processing traffic containing articles 25 , 26 , 27 , 28 and 29 , and annex v should be deleted , which also impacts article 31 . the limited use of the autonomous and outward processing quotas on imports of textiles and clothing originating in the republic of belarus implies that the removal of those quotas will have a limited impact on eu trade .


### the official name of the democratic people ' s republic of korea should be used in annexes ii , iii and iv of regulation 2015 / 936 and the official name of the republic of belarus should be used in annex v of regulation 2015 / 936 . ### the official name of the democratic people ' s republic of korea should be used in annexes ii , iii and iv of regulation 2015 / 936 .


### the power to adopt delegated acts referred to in article 3 , article 5 , article 12 , article 13 , article 26 , article 27 and and article 35 shall be conferred on the commission for a period of 5 years from 20 february 2014 . the commission shall draw up a report in respect of the delegation of power not later than 9 months before the end of the 5 year period . the delegation of power shall be tacitly extended for periods of an identical duration , unless the european parliament or the council opposes such extension not later than 3 months before the end of each period . ### in article 31 , paragraph 2 is replaced by the following : 2 . the power to adopt delegated acts referred to in article 3 , article 5 , article 12 , article 13 and article 35 shall be conferred on the commission for a period of 5 years from 20 february 2014 . the commission shall draw up a report in respect of the delegation of power not later than 9 months before the end of the 5 year period . the delegation of power shall be tacitly extended for periods of an identical duration , unless the european parliament or the council opposes such extension not later than 3 months before the end of each period .


### the delegation of power referred to in article 3 , article 5 , article 12 , article 13 , article 26 , article 27 and and article 35 may be revoked at any time by the european parliament or by the council . a decision to revoke shall put an end to the delegation of power specified in that decision . it shall take effect the day following the publication of the decision in the official journal of the european union or at a later date specified therein . it shall not affect the validity of any delegated acts already in force . ### in article 31 , paragraph 3 is replaced by the following : 3 . the delegation of power referred to in article 3 , article 5 , article 12 , article 13 and article 35 may be revoked at any time by the european parliament or by the council . a decision to revoke shall put an end to the delegation of power specified in that decision . it shall take effect the day following the publication of the decision in the official journal of the european union or at a later date specified therein . it shall not affect the validity of any delegated acts already in force .


### a delegated act adopted pursuant to article 3 , article 12 , article 26 and article 27 and shall enter into force only if no objection has been expressed either by the european parliament or the council within a period of 2 months of notification of that act to the european parliament and the council or if , before the expiry of that period , the european parliament and the council have both informed the commission that they will not object . that period shall be extended by 4 months at the initiative of the european parliament or of the council . ### in article 31 , paragraph 6 is replaced by the following : 6 . a delegated act adopted pursuant to article 3 and article 12 shall enter into force only if no objection has been expressed either by the european parliament or the council within a period of 2 months of notification of that act to the european parliament and the council or if , before the expiry of that period , the european parliament and the council have both informed the commission that they will not object . that period shall be extended by 4 months at the initiative of the european parliament or of the council .


### section a of annex i to regulation 2015 / 936 is amended in accordance with the annex to this regulation and annexes ii , iii , iv and v to regulation 2015 / 936 are replaced by texts set out in the annex to this regulation . ### section a of annex i is amended in accordance with the annex to this regulation and annexes ii , iii and iv are replaced by texts set out in the annex to this regulation .


### in view of the specificities of the sector , in practice no collaborative project between undertakings will be launched if the member states have not first agreed to support such projects . after having defined common defence capability priorities at union - level and also taking into account where appropriate collaborative initiatives on a regional basis , member states identify and consolidate military requirements and define the technical specifications of the project . they may also appoint a project manager in charge of leading the work related to the development of a collaborative project . ### in view of the specificities of the sector , the program will define priority research and development areas previously agreed by the member states depending on common needs in the field of security and defence , in practice no collaborative project between undertakings will be launched if the member states have not first agreed to support such projects . after having defined common defence capability priorities at union - level and also taking into account where appropriate collaborative initiatives on a regional basis , member states identify and consolidate military requirements and define the technical specifications of the projects that adhere to the program .


### the design of a defence product , tangible or intangible component or technology as well as the technical specifications on which such design has been developed ; ### the design of a defence product , tangible or intangible component or technology as well as the technical specifications on which such design has been developed which may include partial tests for risk reduction in an industrial or representative environment ;


### contribution to the innovation and technological development of defence industries and thus to fostering the industrial autonomy of the union in the field of defence technologies ; and , ### contribution to the industrial autonomy of the european defence industry and to the security and defence interests of the union in line with defence capability priorities commonly agreed by member states within the union and , where appropriate , regional and international cooperative agreements ;


### for actions described in points to of article 6 , the contribution to the competitiveness of the european defence industry through the demonstration by the beneficiaries that member states have committed to jointly produce and procure the final product or technology in a coordinated way , including joint procurement where applicable . ### for actions described in points to of article 6 , the contribution to the further integration of the european defence sector through the demonstration by the beneficiaries that member states intend to jointly use , own or maintain the final product or technology in a coordinated way .


### this regulation respects fundamental rights and observes the principles recognised by the charter of fundamental rights of the european union , in particular the protection in the event of removal , expulsion or extradition provided for in article 19 of the charter . ### this regulation respects fundamental rights and observes the principles recognised by the charter of fundamental rights of the european union , in particular human dignity as provided for in article 1 and the protection in the event of removal , expulsion or extradition provided for in article 19 of the charter .


### this regulation establishes the format and the technical specifications of a european travel document for the return of third - country nationals . ### this regulation establishes the format and the technical specifications of a european travel document for the return of illegally staying third - country nationals .


### the european travel document for return shall be issued free of charge for the third - country national . ### the european travel document for return shall be issued free of charge for the illegally staying third - country national .


### the efsi agreement shall be open to accession by member states . subject to the consent of existing contributors , the efsi agreement shall also be open to accession by other third parties , including national promotional banks or public agencies owned or controlled by member states , and private sector entities . ### the efsi agreement shall be open to accession by member states . subject to the consent of existing contributors , the efsi agreement shall also be open to accession by other third parties , including national promotional banks or public agencies owned or controlled by member states , and private sector entities . the member states and other third parties may not take part in the efsi governance structure .


### the investment committee shall be composed of six independent experts and the managing director . independent experts shall have a high level of relevant market experience in project finance and be appointed by the steering board for a renewable fixed term of three years . ### the investment committee shall be composed of six independent experts and the managing director who shall perform their duties impartially . independent experts shall have a high level of relevant market experience in project finance and be appointed by the steering board for a renewable fixed term of three years and not exceeding 6 years in total . the experts of the investment committee shall be appointed following an open and transparent selection procedure .


### any surplus shall be paid in one transaction to a special heading in the statement of revenue in the general budget of the european union of the year n + 1 , ### any surplus shall be paid in one transaction to a special heading in the statement of revenue in the general budget of the european union of the year n + 1 , and shall be reallocated to programmes which envelopes might have been reduced to finance the guarantee fund , as referred to in paragraph 5a , in order to compensate these losses ;


### in some cases the re - use of documents will take place without a licence being agreed . in other cases a licence will be issued imposing conditions on the re - use by the licensee dealing with issues such as liability , the proper use of documents , guaranteeing non - alteration and the acknowledgement of source . if public sector bodies license documents for re - use , the licence conditions should be fair and transparent . standard licences that are available online may also play an important role in this respect . therefore member states should provide for the availability of standard licences . ### in some cases the re - use of documents will take place without a licence being agreed . in other cases a licence will be issued imposing conditions on the re - use by the licensee dealing with issues such as liability , the protection of personal data , the proper use of documents , guaranteeing non - alteration and the acknowledgement of source . if public sector bodies license documents for re - use , the licence conditions should be fair and transparent . standard licences that are available online may also play an important role in this respect . therefore member states should provide for the availability of standard licences .


### any decision on re - use shall contain a reference to the means of redress in case the applicant wishes to appeal the decision . the means of redress shall include the possibility of review by an impartial review body with the appropriate expertise , such as the national competition authority , the national access to documents authority or a national judicial authority , whose decisions are binding upon the public sector body concerned . ### any decision on re - use shall contain a reference to the means of redress in case the applicant wishes to appeal the decision . the means of redress shall include the possibility of review by an impartial review body with the appropriate expertise , such as the national competition authority , the national access to documents authority , national judicial authority or a supervisory authority as set up by article 51 of regulation 2016 / 679 , whose decisions are binding upon the public sector body concerned .


### in the case of standard charges for the re - use of documents , any applicable conditions and the actual amount of those charges , including the calculation basis for such charges , shall be pre - established and published , through electronic means where possible and appropriate . ### in the case of standard charges for the re - use of documents or parts of documents , any applicable conditions and the actual amount of those charges , including the calculation basis for such charges , shall be pre - established and published , through electronic means where possible and appropriate .


### etias should contribute to the facilitation of border checks performed by border guards at the external borders crossing points and ensure a coordinated and harmonised assessment of third country nationals subject to the travel authorisation requirement intending at visiting the schengen area . in addition it should enable to better inform applicants of their eligibility to visit the schengen area . moreover , the etias should also contribute to the facilitation of border checks by reducing the number of refusals of entry at the external borders . ### etias should contribute to the facilitation of border checks performed by border guards at the external borders crossing points and ensure a coordinated and harmonised assessment of third country nationals subject to the travel authorisation requirement intending at visiting the schengen area . in addition it should enable to better inform applicants of their eligibility to visit the schengen area . moreover , the etias should also contribute to the facilitation of border checks by reducing the number of refusals of entry at the external borders and in certain cases , by enabling border guards to access additional information relevant for second - line checks .


### the etias should also support the objectives of the schengen information system related to the alerts in respect of persons wanted for arrest or for surrender or extradition purposes , on missing persons , on persons sought to assist with a judicial procedure and on persons for discreet checks or specific checks . for this purpose the etias should carry out an automated processing of the application files against the relevant alerts in the sis . this processing will be carried for the purpose of supporting the sis . accordingly , any hit resulting from this comparison should be stored in the sis . ### the etias should also support the objectives of the schengen information system related to the alerts for the purpose of refusing entry , the alerts in respect of persons wanted for arrest or for surrender or extradition purposes , on missing persons , on persons sought to assist with a judicial procedure and on persons for discreet checks , inquiry checks or specific checks . for this purpose the etias should carry out an automated processing of the application files against the relevant alerts in the sis . this processing will be carried for the purpose of supporting the sis . accordingly , any hit resulting from this comparison should be stored in the sis .


### the etias central unit should be part of the european border and coast guard agency . the etias central unit should be responsible for verifying travel authorisations ' applications rejected from the automated process in order to determine whether the applicant personal data corresponds to the personal data of the person having triggered a hit , for the screening rules , and for carrying out regular audits on the processing of applications . the etias central unit should work in 24 / 7 regime . ### the etias central unit should be part of the european border and coast guard agency . the etias central unit should be responsible for verifying travel authorisations ' applications that trigger one or more hits in the automated process in order to determine whether the applicant personal data corresponds to the personal data of the person having triggered a hit , for the screening rules , and for carrying out regular audits on the processing of applications . the etias central unit should work in 24 / 7 regime .


### each member state should establish an etias national unit mainly responsible for the examination and decision on whether to issue or refuse a travel authorisation . the etias national units should cooperate among themselves and with europol for the purpose of the assessment of the applications . the etias national unit should work in 24 / 7 regime . ### each member state should establish an etias national unit mainly responsible for the examination and decision on whether to issue , refuse , cancel or revoke a travel authorisation . the etias national units should cooperate among themselves and with europol for the purpose of the assessment of the applications . the etias national unit should work in 24 / 7 regime .


### prior to boarding , air and sea carriers , as well as carriers transporting groups overland by coach should have the obligation to verify if travellers have all the travel documents required for entering the territory of the member states pursuant to the schengen convention25 . this should include verifying that travellers are in possession of a valid travel authorisation . the etias file itself should not be accessible to carriers . a secure internet access , including the possibility using mobile technical solutions , should allow carriers to proceed with this consultation using travel document data . _________________ 25 convention implementing the schengen agreement of 14 june 1985 between the governments of the states of the benelux economic union , the federal republic of germany and the french republic on the gradual abolition of checks at their common borders . ### prior to boarding , air and sea carriers , as well as carriers transporting groups overland by coach should have the obligation to verify if travellers have all the travel documents required for entering the territory of the member states pursuant to the schengen convention25 . this should include verifying that travellers are in possession of a valid travel authorisation and in the case of a travel authorisation with limited territorial validity , verify the territory or territories to which the applicant is authorised to travel . the etias file itself should not be accessible to carriers . secure access , including the possibility using mobile technical solutions , should allow carriers to send a request to the etias central system using travel document data . _________________ 25 convention implementing the schengen agreement of 14 june 1985 between the governments of the states of the benelux economic union , the federal republic of germany and the french republic on the gradual abolition of checks at their common borders .


### in order to comply with the revised conditions for entry , border guards should check whether the traveller is in possession of a valid travel authorisation . therefore , during the standard border control process , the border guard should electronically read the travel document data . this operation should trigger a query to different databases as provided under the schengen border code including a query to etias which should provide the up - to - date travel authorisation status . the etias file itself should not be accessible to the border guard for border controls . if there is no valid travel authorisation , the border guard should refuse entry and should complete the border control process accordingly . if there is a valid travel authorisation , the decision to authorise or refuse entry should be taken by the border guard . ### in order to comply with the revised conditions for entry , border guards should check whether the traveller is in possession of a valid travel authorisation . therefore , during the standard border control process , the border guard should electronically read the travel document data . this operation should trigger a query to different databases as provided under the schengen border code including a query to etias which should provide the up - to - date travel authorisation status and in the case of a travel authorisation with limited territorial validity , the territory or territories to which the applicant is authorised to travel . the etias file itself should not be accessible to the border guard for border controls but only for additional information relevant for second - line checks that the etias national unit may have inserted to facilitate border control . if there is no valid travel authorisation , the border guard should refuse entry and should complete the border control process accordingly . if there is a valid travel authorisation , the decision to authorise or refuse entry should be taken by the border guard .


### ' hit ' means the existence of a correspondence established by comparing the personal data recorded in an application file of the etias central system with the personal data stored in a record , file or alert registered in an information system queried by the etias central system , in the etias watchlist or with the specific risk indicators referred to in article 28 ; ### ' hit ' means the existence of a correspondence established by comparing the personal data recorded in an application file of the etias central system with the personal data stored in a record , file or alert registered in the etias central system , in a database or in an information system queried by the etias central system , in the etias watchlist referred to in article 29 or with the specific risk indicators referred to in article 28 ;


### ' europol data ' means personal data provided to europol for the purpose referred to in article 18 of regulation 2016 / 794 . ### ' europol data ' means personal data europol has at its disposal for the purpose referred to in article 18 of regulation 2016 / 794 .


### support the objectives of the schengen information system related to the alerts in respect of persons wanted for arrest or for surrender or extradition purposes , on missing persons , on persons sought to assist with a judicial procedure and on persons for discreet checks or specific checks ; and ### support the objectives of the schengen information system related to the alerts in respect of third country nationals subject to an entry ban , persons wanted for arrest or for surrender or extradition purposes , on missing persons , on persons sought to assist with a judicial procedure and on persons for discreet checks , specific checks or inquiry checks ; and


### verifying travel authorisations ' applications rejected from the automated process in order to determine whether the applicant personal data corresponds to the personal data of the person having triggered a hit in one of the consulted information systems / databases or the specific risk indicators referred to in article 28 ; ### verifying travel authorisations ' applications that have triggered one or more hits during the automated process in order to determine whether the applicant personal data corresponds to the personal data of the person having triggered a hit in the etias central system , one of the consulted information systems / databases or the specific risk indicators referred to in article 28 or the etias watchlist referred to in article 29 ;


### access by carriers to the etias central system by in accordance with article 39 , shall be limited to searching the etias central system to obtain the travel authorisation status of a traveller . ### access by carriers to the etias central system by in accordance with article 39 , shall be limited to sending requests to the etias central system to obtain the travel authorisation status of a traveller .


### processing of personal data within the etias information system by any user shall not result in discrimination against third country nationals on the grounds of sex , racial or ethnic origin , religion or belief , disability , age or sexual orientation . it shall fully respect human dignity and integrity . particular attention shall be paid to children , the elderly and persons with a disability . ### processing of personal data within the etias information system by any user shall not result in direct or indirect discrimination against third country nationals on the grounds of sex , racial or ethnic origin , religion or belief , disability , age or sexual orientation . it shall fully respect human dignity and integrity . particular attention shall be paid to children , the elderly and persons with a disability .


### the date of expiry of the validity of the travel document ; ### the date of issue and date of expiry of the travel document ;


### whether he or she has ever been convicted of any criminal offence in any country ; ### whether , over the previous 10 years , he or she has been convicted of any serious criminal offence or any terrorist offence as defined in articles 3 and 3 respectively ;


### where the automated processing laid down in article 18 has reported that the applicant replied affirmatively to one of the questions referred to in article 15 , the etias national unit of the responsible member state shall assess the irregular migration , security or public health risk and decide whether to issue or refuse a travel authorisation . ### where the automated processing laid down in article 18 has reported that the applicant replied affirmatively to one of the questions referred to in article 15 , the etias national unit of the responsible member state shall assess the irregular migration , security or public health risk and decide whether to issue or refuse a travel authorisation and , where appropriate , shall check that the applicant belongs to one of the categories exempted from the authorisation fee that are laid down in points to of article 16 , verifying in the process the duration of the activity resulting in the fee waiver .


### where one or several member states consulted provide a negative opinion on the application , the responsible member state shall refuse the travel authorisation pursuant to article 31 . ### where one or several member states consulted provide a negative opinion on the application , without prejudice to article 38 , the responsible member state shall refuse the travel authorisation pursuant to article 31 .


### the etias watchlist shall consist of data related to persons who are suspected of having committed or taken part in a criminal offence or persons regarding whom there are factual indications or reasonable grounds to believe that they will commit criminal offences . ### the etias watchlist shall consist of data related to persons who are suspected of having committed or taken part in a serious criminal offence as defined in article 3 or persons regarding whom there are factual indications or reasonable grounds to believe that they will commit criminal offences .


### a travel authorisation shall be valid for five years or until the end of validity of the travel document registered during application , whichever comes first , and shall be valid for the territory of the member states . ### a travel authorisation shall be valid for 3 years or until the end of the activity that gave rise to the authorisation fee being waived pursuant to article 16 to or until the end of validity of the travel document registered during application , whichever comes first . it shall be valid for the territory of the member states .


### a travel authorisation shall be valid for five years or until the end of validity of the travel document registered during application , whichever comes first , and shall be valid for the territory of the member states . ### travel authorisation shall be valid for three years or until the end of the activity that gave rise to the authorisation fee being waived pursuant to points to of article 16 or until the end of validity of the travel document registered during application , whichever comes first , and shall be valid for the territory of the member states .


### a link to the etias public website containing information on the possibility for the applicant to revoke the travel authorisation . ### a link to the etias public website containing information on the possibility for the applicant to revoke the travel authorisation or his or her travel authorisation with limited territorial validity and a clear indication that his or her authorisation may be revoked if the conditions for issuing it are no longer met ;


### the ground for refusal of the travel authorisation as laid down in article 31 . ### where appropriate , the ground for refusal of the travel authorisation as laid down in article 31 .


### place and date of the decision to issue or refuse the travel authorisation ; ### date of the decision to issue or refuse the travel authorisation ;


### without prejudice to paragraph 2 , where a new refusal of entry alert or a travel document as lost , stolen or invalidated is reported in the sis , the sis shall inform the etias central system . the etias central system shall verify whether this new alert corresponds to a valid travel authorisation . where this is the case , the etias central system shall transfer the application file to the etias national unit of the member state having created the alert which shall revoke the travel authorisation . ### without prejudice to paragraph 2 , where a new refusal of entry alert or a travel document as lost , stolen or invalidated is reported in the sis , the sis shall inform the etias central system . the etias central system shall verify whether this new alert corresponds to a valid travel authorisation . where this is the case , the etias central system shall transfer the application file to the etias national unit of the member state having created the alert which shall revoke the travel authorisation , except under exceptional circumstances relating to the national security of a member state .


### where a travel authorisation with territorial validity is issued , the following data shall be entered in the application file : ### where a travel authorisation with territorial validity is issued or refused , the following data shall be entered in the application file :


### the territory in which the travel authorisation holder is entitled to travel ; ### the territory or territories in which the travel authorisation holder is entitled to travel and , where appropriate , the period of validity of the authorisation where it is less than that provided for in paragraph 4 ;


### the authority of the member state that issued the travel authorisation with territorial validity ; ### the national unit of the member state that issued or refused the travel authorisation with limited territorial validity ;


### a reference to the humanitarian grounds , the reasons of national interest or the international obligations . ### where appropriate , a reference to the humanitarian grounds , the reasons of national interest or the international obligations .


### a secure internet access to the carrier gateway , including the possibility to use mobile technical solutions , referred to in article 6 shall allow carriers to proceed with the consultation referred to in paragraph 1 prior to the boarding of a passenger . for this purpose , the carrier shall be permitted to consult the etias central system using the data contained in the machine readable zone of the travel document . ### a secure access to the carrier gateway , including the possibility to use mobile technical solutions , referred to in article 6 shall allow air carriers , sea carriers and carriers carrying groups operating international road links by coach to proceed with the query referred to in paragraph 1 prior to the boarding of a passenger . for this purpose , the carrier shall send a query to the etias central system using the data contained in the machine readable zone of the travel document .


### the etias central system shall respond by indicating whether or not the person has a valid travel authorisation . carriers may store the information sent and the answer received . ### the etias central system shall respond by indicating whether or not the person has a valid travel authorisation and , where applicable , the territory or territories in which a travel authorisation with limited territorial validity is valid . carriers may store the information sent and the answer received .


### where it is technically impossible to proceed with the consultation referred to in article 41 , because of a failure of the etias information system , the member state ' s authorities competent for carrying out checks at external border crossing points shall be notified by the etias central unit . ### where it is technically impossible to proceed with the consultation referred to in article 41 , because of a failure of the etias information system , the member state ' s authorities competent for carrying out checks at external border crossing points shall be notified immediately by the etias central unit .


### where it is technically impossible to perform the search referred to in article 41 because of a failure of the national border infrastructure in a member state , that member state ' s competent authority shall notify eu - lisa , the etias central unit and the commission . ### where it is technically impossible to perform the search referred to in article 41 because of a failure of the national border infrastructure in a member state , that member state ' s competent authority shall immediately notify eu - lisa , the etias central unit and the commission .


### access for consultation is necessary in a specific case ; ### access for consultation is necessary in a specific judicial case ;


### the consultation is necessary in a specific case ; ### the consultation is necessary in a specific judicial case ;


### eu - lisa shall develop and implement the central system , the national uniform interfaces , and the communication infrastructure as soon as possible after the entry into force of this regulation and the adoption by the commission of the measures provided for in article 15 and , article 16 , article 28 , article 39 , article 40 and article 72 and . ### eu - lisa shall develop and implement the central system , the national uniform interfaces , and the communication infrastructure as soon as possible after the entry into force of this regulation and the adoption by the commission of the measures provided for in article 15 and , article 16 , article 39 , article 40 and article 72 and .


### the organisation , management , operation and maintenance of the etias national units for the examination of and decision on travel authorisations ' applications rejected during the automated processing of applications ; ### the organisation , management , operation and maintenance of the etias national units entrusted with the examination of travel authorisations ' applications which have triggered one or more positive responses during the automated processing of applications , adopting decisions on them and issuing an opinion when consulted ;


### europol shall ensure processing of the queries referred to in article 18 and and accordingly adapting its information system . ### europol shall ensure processing of the queries referred to in article 18 and and accordingly adapting its information systems .


### the costs incurred in connection with the development of the etias information system , the integration of the existing national border infrastructure and the connection to the national uniform interface as well as by hosting the national uniform interface , the set - up of the etias central and national units and the operation of the etias shall be borne by the general budget of the union . ### the costs incurred in connection with the development of the etias information system , the integration of the existing national border infrastructure and the connection to the national uniform interface as well as by hosting the national uniform interface , the set - up of the etias central and national units and the operation of the etias shall be proportionate to the individual administrative needs of each member state and borne by the general budget of the union . before starting any procurement procedure , the commission shall undertake a precise analysis of the technical requirements for the integration of existing national systems , of the technical standards of the etias , and of the requirements concerning the content and accessibility of the etias .


### the power to adopt delegated acts referred to in article 15 and , article 16 , article 28 and article 72 and shall be conferred on the commission for an indeterminate period of time from [ the date of entry into force of this regulation ] . ### the power to adopt delegated acts referred to in article 13 , article 15 and , article 16 , article 28 and article 72 and shall be conferred on the commission for an indeterminate period of time from [ the date of entry into force of this regulation ] .


### the results achieved by the etias having regard to its objectives , mandate and tasks ; ### the costs and the results achieved by the etias having regard to its objectives , mandate and tasks ;


### ' the rule of law ' refers to the union value enshrined in article 2 of the treaty on european union which includes the principles of legality , implying a transparent , accountable , democratic and pluralistic process for enacting laws ; legal certainty ; prohibition of arbitrariness of the executive powers ; effective judicial protection by independent courts , including of fundamental rights ; separation of powers and equality before the law ; ### ' democracy , the rule of law and fundamental rights ' are enshrined in article 2 of the treaty on european union and include the principles of legality , implying a transparent , accountable , democratic and pluralistic process for enacting laws ; free and fair elections , legal certainty ; prohibition of arbitrariness of the executive powers ; effective judicial protection by independent courts ; separation of powers and equality before the law ; and the fundamental rights as stipulated in the charter of fundamental rights of the eu and in the european convention for the protection of human rights and fundamental freedoms ;


### n its communication “a european solidarity corps” of 7 december 2016 , 18 the commission emphasised the need to strengthen the foundations for solidarity work across europe , to provide young people with more and better opportunities for solidarity activities covering a broad range of areas , and to support national and local actors , in their efforts to cope with different challenges and crises . the communication launched a first phase of the european solidarity corps whereby different union programmes have been mobilised to offer volunteering , traineeship or job opportunities to young people across the eu . these activities , whether implemented before or after the entry into force of this regulation , should continue to apply the rules and conditions set by the respective union programmes that have financed them under the first phase of the european solidarity corps . _________________ 18 communication from the commission to the european parliament , the council , the european economic and social committee and the committee of the regions a european solidarity corps , com 942 final of 7 . 12 . 2016 . ### n its communication “a european solidarity corps” of 7 december 2016 , 18 the commission emphasised the need to strengthen the foundations for solidarity work across europe , to provide young people with more and better opportunities for solidarity activities covering a broad range of areas , and to support national , regional and local actors , in their efforts to cope with different challenges and crises . the communication launched a first phase of the european solidarity corps whereby different union programmes have been mobilised to offer volunteering , traineeship , development or job opportunities to young people across the eu . these activities , whether implemented before or after the entry into force of this regulation , should continue to apply the rules and conditions set by the respective union programmes that have financed them under the first phase of the european solidarity corps . _________________ 18 communication from the commission to the european parliament , the council , the european economic and social committee and the committee of the regions a european solidarity corps , com 942 final of 7 . 12 . 2016 .


### young people should be provided with easily accessible opportunities to engage in solidarity activities , which could enable them to express their commitment to the benefit of communities while acquiring useful experience , skills and competences for their personal , educational , social , civic and professional development , thereby improving their employability . those activities would also support the mobility of young volunteers , trainees and workers . ### young people should be provided with easily accessible opportunities to engage in solidarity activities , which could enable them to express their commitment to the benefit of communities while acquiring useful experience , knowledge , skills and competences for their personal , educational , social , civic and professional development , thereby improving their employability . those activities would also support the mobility of young volunteers , trainees and workers .


### the solidarity activities offered to young people should be of high quality , in the sense that they should respond to unmet societal needs , contribute to strengthening communities , offer young people the opportunity to acquire valuable knowledge and competences , be financially accessible to young people , and be implemented in safe and healthy conditions . ### the solidarity activities offered to young people should be of high quality , in the sense that they should respond to unmet societal needs , contribute to strengthening communities , offer young people the opportunity to acquire valuable knowledge , skills and competences , be financially accessible to young people , and be implemented in safe and healthy conditions .


### in order to maximise the impact of the european solidarity corps , provisions should be made to allow other union programmes such as the asylum , migration and integration fund , the europe for citizens programme , the european regional development fund and the health programme to contribute to the objectives of the european solidarity corps by supporting activities within its scope . this contribution should be financed in accordance with the respective basic acts of the concerned programmes . once they have obtained a valid european solidarity corps quality label , the beneficiaries should be given access to the european solidarity corps portal and receive the quality and support measures provided according to the type of activity offered . ### in order to maximise the impact of the european solidarity corps , provisions should be made to allow other union programmes such as the asylum , migration and integration fund , the europe for citizens programme , the european social fund , the european regional development fund and the health programme to contribute to the objectives of the european solidarity corps by supporting activities within its scope . this contribution should be financed in accordance with the respective basic acts of the concerned programmes . once they have obtained a valid european solidarity corps quality label , the beneficiaries should be given access to the european solidarity corps portal and receive the quality and support measures provided according to the type of activity offered .


### an entity willing to apply for funding to offer placements under the european solidarity corps should have first received a quality label as a precondition . this requirement should not apply to natural persons seeking financial support on behalf of an informal group of european solidarity corps participants for their solidarity projects . ### an entity willing to apply for funding to offer placements under the european solidarity corps should have first received a quality label as a precondition . this requirement should not apply to natural persons seeking financial support on behalf of an informal group of european solidarity corps participants for their programmes and solidarity projects .


### in compliance with regulation no 966 / 2012 of the european parliament and of the council on the financial rules applicable to the general budget of the european union , 26 the commission should adopt work programmes and inform the european parliament and the council thereof . the work programme should set out the measures needed for their implementation in line with the general and specific objectives of the european solidarity corps , the selection and award criteria for grants , as well as all other elements required . work programmes and any amendments to them should be adopted by implementing acts in accordance with the examination procedure . _________________ 26 regulation no 966 / 2012 of the european parliament and of the council of 25 october 2012 on the financial rules applicable to the general budget of the union and repealing council regulation no 1605 / 2002 , oj l 298 , 26 . 10 . 2012 , p . 1 . ### in compliance with regulation no 966 / 2012 of the european parliament and of the council on the financial rules applicable to the general budget of the european union , 26 the commission should adopt work programmes and inform the european parliament and the council thereof . the work programme should set out the implementing measures needed for their implementation in line with the general and specific objectives of the european solidarity corps , the selection and award criteria for grants , as well as all other elements required . work programmes and any amendments to them should be adopted by implementing acts in accordance with the examination procedure . _________________ 26 regulation no 966 / 2012 of the european parliament and of the council of 25 october 2012 on the financial rules applicable to the general budget of the union and repealing council regulation no 1605 / 2002 , oj l 298 , 26 . 10 . 2012 , p . 1 .


### “disadvantaged young people” means individuals who need additional support because of disability , educational difficulties , economic obstacles , cultural differences , health problems , social obstacles , geographical obstacles ; ### “disadvantaged young people” means individuals who need additional support because of disability , educational difficulties , economic or social obstacles , cultural differences , health problems , social obstacles , geographical obstacles ;


### to provide young people , with the support of participating organisations , with easily accessible opportunities for engagement in solidarity activities while improving their skills and competences for personal , educational , social , civic and professional development , as well as their employability and facilitating transition into the labour market , including by supporting the mobility of young volunteers , trainees and workers ; ### to provide young people , with the support of participating organisations , with easily accessible opportunities for engagement in solidarity activities while improving their knowledge , skills and competences for personal , educational , social , civic and professional development , as well as their employability and facilitating transition into the labour market , including by supporting the mobility of young volunteers , trainees and workers ;


### the actions of the european solidarity corps shall be consistent with and complementary to the relevant policies and programmes relating to the areas mentioned in article 2 as well as existing union level networks pertinent to the activities of the european solidarity corps . ### the actions of the european solidarity corps shall be consistent with and complementary to the relevant union policies and programmes relating to the areas mentioned in article 2 as well as existing union level networks pertinent to the activities of the european solidarity corps .


### the commission , in cooperation with the participating countries , shall ensure the dissemination of information , publicity and follow - up with regard to all actions supported in the framework of the european solidarity corps . ### the commission , in cooperation with the participating countries , shall ensure the spreading of information , publicity and follow - up with regard to all actions supported in the framework of the european solidarity corps .


### well - functioning markets and systems are the best guarantee of security of supply . however , even where markets and systems function well , the risk of an electricity crisis can never be excluded . the consequences of crisis situations often extend beyond national borders . even where incidents start locally their effects can rapidly spread across borders . some extreme circumstances , such as a cold spell , a heat wave or a cyber - attack , may affect entire regions at the same time . ### well - functioning markets and systems with developed and technologically modern electricity interconnections as well as national connections , ensuring free flow of energy across borders are the best guarantee of security of supply in the union . however , even where markets and systems function well , the risk of an electricity crisis can never be excluded . the consequences of crisis situations often extend beyond national borders . even where incidents start locally their effects can rapidly spread across borders . some extreme circumstances , such as a cold spell , a heat wave or a cyber - attack , may affect entire regions at the same time .


### in a context of interlinked electricity markets and systems , crisis prevention and management cannot be considered a purely national responsibility . a common framework of rules and coordinated procedures are needed , to ensure that member states and other actors cooperate effectively across borders in a spirit of transparency and solidarity . ### in a context of interlinked electricity markets and systems , crisis prevention and management cannot be considered a purely national responsibility and the potential of more efficient and less costly measures through regional cooperation should be better exploited . a common framework of rules and better coordinated procedures are needed , to ensure that member states and other actors cooperate effectively across borders and increase transparency , trust and solidarity between member states .


### the system operation guidelines24 and the network code on emergency and restoration25 constitute a detailed rulebook governing how transmission system operators and other relevant actors should act and cooperate to ensure system security . these technical rules should ensure that most electricity incidents are dealt with effectively at operational level . this regulation focuses on electricity crisis situations that may have a larger scale and impact . it sets out what member states should do to prevent such situations and what measures they can take should system operational rules alone no longer suffice . even in crisis situations , however , system operation rules should continue to be fully respected . _________________ 24 commission regulation … / …of xxx establishing a guideline on electricity transmission system operation , oj [ . . . ] 25 commission regulation … / …of xxx establishing a network code on electricity emergency and restoration , oj [ . . . ] . ### the system operation guidelines24 and the network code on emergency and restoration25 constitute a detailed rulebook governing how transmission system operators and other relevant actors should act and cooperate to ensure system security . these technical rules should ensure that electricity incidents are dealt with effectively at operational level . this regulation focuses on electricity crisis situations that may have a larger scale and impact . it sets out what member states should do to prevent such situations and what measures they can take should system operational rules alone no longer suffice . even in crisis situations , however , system operation rules should continue to be fully respected and consistency between the provisions laid out in this regulation and the network code on emergency and restoration should be ensured . _________________ 24 commission regulation … / …of xxx establishing a guideline on electricity transmission system operation , oj [ . . . ] 25 commission regulation … / …of xxx establishing a network code on electricity emergency and restoration , oj [ . . . ] .


### this regulation sets out a common framework of rules on how to prevent , prepare for and manage electricity crisis situations , bringing more transparency in the preparation phase and during an electricity crisis and ensuring that , even in a crisis , electricity is delivered where it is needed most . it requires member states to cooperate at regional level , in a spirit of solidarity . it also sets out a framework for an effective monitoring of security of supply in europe via the electricity coordination group . this should result in better risk preparedness at a lower cost . it should also strengthen the internal energy market by enhancing trust and confidence across member states and ruling out inappropriate state interventions in crisis situations , in particular avoiding undue curtailment of cross - border flows . ### this regulation sets out a common framework of rules on how to prevent , prepare for and manage electricity crisis situations , bringing more transparency in the preparation phase and during an electricity crisis and ensuring that , even in a crisis , measures are taken in a coordinated and effective manner and electricity is delivered where it is needed most . it requires member states to cooperate at regional level , in a spirit of solidarity . it also sets out a framework for an effective monitoring of security of supply in europe via the electricity coordination group . this should result in better risk preparedness at a lower cost and with optimization of resources . it should also strengthen the internal energy market by enhancing trust and confidence across member states and ruling out inappropriate state interventions in crisis situations , in particular avoiding non - market measures and undue curtailment of cross - border flows , thus reducing the risk of negative spill - over effects on neighbouring member states .


### to facilitate prevention , information exchange and ex - post evaluation of electricity crises , member states should designate one competent authority as a contact point . this may be an existing or new entity . ### to facilitate prevention , information exchange and ex - post evaluation of electricity crises , member states should designate one competent national governmental or regulatory authority as a contact point . this may be an existing or new entity .


### a common approach to crisis prevention and management requires , above all , that member states use the same methods and definitions to identify risks relating to the security of electricity supply and are in a position effectively to compare how well they and their neighbours perform in that area . the regulation identifies two indicators to monitor the security of electricity supply in the union : ' expected energy non served ' , expressed in gwh / year , and ' loss of load expectation ' , expressed in hours / year . these indicators are part of the european resource adequacy assessment carried out by the european network of transmission system operators for electricity , pursuant to [ article 19 of the proposed electricity regulation ] . the electricity coordination group shall carry out regular monitoring of the security of supply based on the results of these indicators . the agency for the cooperation of energy regulators should also use these indicators , when reporting on member states ' performance in the area of security of supply in its annual electricity market monitoring reports , pursuant to [ article 16 of the proposed acer regulation ] . ### a common approach to crisis prevention and management requires , above all , that member states use common methods and definitions to identify risks relating to the security of electricity supply , allowing them to effectively compare how well they and their neighbours perform in that area . the regulation identifies two indicators to monitor the security of electricity supply in the union : ' expected energy non served ' , expressed in gwh / year , and ' loss of load expectation ' , expressed in hours / year . these indicators are part of the european resource adequacy assessment carried out by the european network of transmission system operators for electricity , pursuant to [ article 19 of the proposed electricity regulation ] . the electricity coordination group shall carry out regular monitoring of the security of supply based on the results of these indicators . the agency for the cooperation of energy regulators should also use these indicators , when reporting on member states ' performance in the area of security of supply in its annual electricity market monitoring reports , pursuant to [ article 16 of the proposed acer regulation ] .


### on the basis of this common methodology , entso - e should regularly draw up and update regional crisis scenarios and identify the most relevant risks for each region such as extreme weather conditions , natural disasters , fuel shortages or malicious attacks . when considering the crisis scenario of gas fuel shortage , the risk of gas supply disruption should be assessed based on the gas supply and infrastructure disruption scenarios developed by the european network of transmission system operators for gas pursuant to article 6 . 6 of the gas security of supply regulation [ proposed gas security of supply regulation ] . member states should establish and update their national crisis scenarios on this basis , in principle every three years . the scenarios should provide the basis for the risk - preparedness plans . when identifying risks on national level the member states should also describe possible risks they see in relation to the ownership of infrastructure relevant for security of supply , and possible measures taken , if any , to address such risks , with an indication why in their view such measures are justified . ### on the basis of this common methodology , entso - e should regularly draw up and update regional crisis scenarios and identify the most relevant risks for each region such as extreme weather conditions , natural disasters , fuel shortages or malicious attacks . when considering the crisis scenario of gas fuel shortage , the risk of gas supply disruption should be assessed based on the gas supply and infrastructure disruption scenarios developed by the european network of transmission system operators for gas pursuant to article 6 . 6 of the gas security of supply regulation [ proposed gas security of supply regulation ] . in order to reinforce the regional approach to assessing risks , entso - e should be able to delegate tasks related to the identification of regional crisis scenarios to regional operational centres . member states should , on the basis of the regional crisis scenarios , establish and update their national crisis scenarios , in principle every three years . the scenarios should then provide the basis for the risk - preparedness plans . when identifying risks on national level the member states should also describe possible risks they see in relation to the ownership of infrastructure relevant for security of supply , and any measures taken to address such risks , with an indication why in their view such measures are considered necessary and proportionate .


### the [ proposed electricity regulation ] prescribes the use of a common methodology for the medium to long - term european resource adequacy assessment , with a view to ensuring that member states ' decisions as to possible investment needs are made on a transparent and commonly agreed basis . this assessment has a different purpose than the short - term adequacy assessments which are used to detect possible adequacy related problems in short time - frames , namely seasonal outlooks and week - ahead to intraday adequacy assessments . regarding short - term assessments , there is a need for a common approach to the way possible adequacy - related problems are detected . the entso - e is to issue winter and summer outlooks to alert member states and transmission system operators to security of supply related risks that might occur in the following six months . to improve these outlooks , they should be based on a common probabilistic methodology proposed by entso - e and approved by the agency . in order to reinforce the regional approach to assessing risks , entso - e should be able to delegate tasks related to seasonal outlooks to regional operational centres . ### the [ proposed electricity regulation ] prescribes the use of a common methodology for the medium to long - term european resource adequacy assessment , with a view to ensuring that member states ' decisions as to possible investment needs are made on a transparent and commonly agreed basis . this assessment has a different purpose than the short - term adequacy assessments which are used to detect possible adequacy related problems in short time - frames , namely seasonal outlooks and week - ahead to intraday adequacy assessments . regarding short - term assessments , there is a need for a common approach to the way possible adequacy - related problems are detected . the entso - e is to issue winter and summer outlooks to alert member states and transmission system operators to security of supply related risks that might occur in the following six months . to improve these outlooks , they should be based on a common probabilistic methodology proposed by entso - e and approved by the agency and updated on a regular basis . in order to reinforce the regional approach to assessing risks , entso - e should be able to delegate tasks related to seasonal outlooks to regional operational centres .


### to ensure a common approach to crisis prevention and management , the competent authority of each member state should draw up a risk - preparedness plan , after consulting stakeholders . the plans should describe effective , proportionate and non - discriminatory measures addressing all identified crisis scenarios . plans should provide transparency especially as regards the conditions in which non - market measures can be taken to mitigate crisis situations . all envisaged non - market measures should comply with the rules set out in this regulation . ### to ensure a common approach to crisis prevention and management , the competent authority of each member state should , on the basis of the regional and national electricity crisis scenarios identified , draw up a risk - preparedness plan , after consulting relevant stakeholders . the plans should describe effective , proportionate and non - discriminatory measures addressing all identified crisis scenarios . plans should provide transparency especially as regards the conditions in which non - market measures are considered necessary to mitigate crisis situations . all envisaged non - market measures should comply with the rules set out in this regulation .


### plans should be updated regularly . to ensure that the plans are always up - to - date and effective , the competent authorities of each region should organise annual simulations in cooperation with regional operational centres to test their suitability . ### plans should be updated regularly and made public , while ensuring confidentiality of sensitive information . to ensure that the plans are always up - to - date and effective , the competent authorities of each region should organise annual simulations in cooperation with regional operational centres to test their suitability .


### an electricity crisis might extend beyond union borders comprising also energy community countries . in order to ensure an efficient crisis management on borders between the member states and the contracting parties , the union should closely cooperate with the energy community contracting parties when preventing , preparing for and handling an electricity crisis . ### an electricity crisis might extend beyond union borders comprising also energy community countries , eea countries and switzerland . in order to ensure an efficient crisis management on borders between the member states , the contracting parties , eea countries and switzerland , the union should closely cooperate with these parties when preventing , preparing for and handling an electricity crisis .


### the regional measures to be included in the plan shall be agreed by the competent authorities of the member states in the region concerned . at least eight months before the deadline for the adoption or the updating of the plan , the competent authorities shall report on the agreements reached to the electricity coordination group . if the competent authorities concerned were not able to reach an agreement , they shall inform the commission of the reasons for such disagreement . in such case the commission may request the agency to facilitate the conclusion of an agreement in consultation with entso - e . ### the regional measures shall be agreed by the competent authorities of the member states in the region concerned before incorporation in the respective national plans . at least eight months before the deadline for the adoption or the updating of the plan , the competent authorities shall report on the agreements reached to the electricity coordination group . if the competent authorities concerned were not able to reach an agreement , they shall inform the commission of the reasons for such disagreement . in such case the commission may request the agency to facilitate the conclusion of an agreement in consultation with entso - e .


### as soon as possible and no later than six weeks after declaring an electricity crisis situation , the competent authorities concerned , in consultation with their national regulatory authority shall provide the electricity coordination group and the commission with an evaluation report . ### as soon as possible and no later than six weeks after the electricity crisis situation has ended , the competent authorities concerned , in consultation with their national regulatory authority shall provide the electricity coordination group and the commission with a detailed evaluation report .


### the purpose of the efsi should be to help resolve the difficulties in financing and implementing productive investments in the union and to ensure increased access to financing . it is intended that increased access to financing should be of particular benefit to small and medium enterprises . it is also appropriate to extend the benefit of such increased access to financing to mid - cap companies , which are companies having up to 3000 employees . overcoming europe ' s current investment difficulties should contribute to strengthening the union ' s economic , social and territorial cohesion . ### the purpose of the efsi should be to help resolve the difficulties in financing and implementing productive investments in the union by ensuring an increased and easier access to financing for projects at all levels . it is intended that increased and easier access to financing - combined with a reduction of the administrative burden - should be of particular benefit to small and medium enterprises as well as start - ups . it is also appropriate to extend the benefit of such increased access to financing to mid - cap companies , which are companies having up to 3000 employees . overcoming europe ' s current investment difficulties should contribute to strengthening the union ' s economic , social and territorial cohesion .


### the efsi should target projects with a higher risk - return profile than existing eib and union instruments to ensure additionality over existing operations . the efsi should finance projects across the union , including in the countries most affected by the financial crisis . the efsi should only be used where financing is not available from other sources on reasonable terms . ### the efsi should target projects with a higher risk - return profile than those targeted by existing eib and union instruments to ensure additionality over existing operations . the efsi should finance projects across the union , including in the countries most affected by the financial crisis . the efsi should only be used where financing is not available from other sources on reasonable terms .


### at the level of projects , third parties may co - finance together with efsi on a project - by - project basis or in investment platforms related to specific geographic or thematic sectors . ### at the level of projects , third parties may co - finance together with efsi on a project - by - project basis or in investment platforms which can relate to specific geographic or thematic sectors .


### given the need for urgent action within the union , the eib and the eif may have financed additional projects , outside of their usual profile , in the course of 2015 before the entry into force of this regulation . in order to maximise the benefit of the measures provided for in this regulation , it should be possible for such additional projects to be included within the eu guarantee coverage in the event that they fulfil the substantive criteria set out in this regulation . ### given the need for urgent action within the union , the eib and the eif may have financed additional projects , outside of their usual profile , in the course of 2015 before the entry into force of this regulation . in order to maximise the benefit of the measures provided for in this regulation , it should be possible for such additional projects to be included ex post within the eu guarantee coverage in the event that they fulfil the substantive criteria set out in this regulation .


### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . ### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support to member states and their authorities , private investors and investment platforms at all levels for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union .


### in order to cover the risks related to the eu guarantee to the eib , a guarantee fund should be established . the guarantee fund should be constituted by a gradual payment from the union budget . the guarantee fund should subsequently also receive revenues and repayments from projects that benefit from efsi support and amounts recovered from defaulting debtors where the guarantee fund has already honoured the guarantee to the eib . ### in order to cover the risks related to the eu guarantee to the eib , a guarantee fund should be established . the guarantee fund should be constituted by a gradual payment from the union budget . the guarantee fund should subsequently also receive revenues and repayments from projects that benefit from efsi support , returns on guarantee fund resources invested and amounts recovered from defaulting debtors where the guarantee fund has already honoured the guarantee to the eib .


### although the projects identified under the project pipeline may be used by the eib in the identification and selection of efsi supported projects , the project pipeline should have a broader scope of identifying projects across the union . this scope may include projects that are capable of being fully financed by the private sector or with the assistance of other instruments provided at european or national level . the efsi should be able to support financing and investment to projects identified by the project pipeline , but there should be no automaticity between inclusion on the list and access to efsi support and the efsi be conferred with discretion to select and support projects that are not included on the list . ### although the projects identified under the project pipeline may be used in the identification and selection of efsi supported projects , the project pipeline should have a broader scope of identifying projects across the union . this scope may include projects that are capable of being fully financed by the private sector or with the assistance of other instruments provided at european or national level . the efsi should be able to support financing and investment to projects identified by the project pipeline , but there should be no automaticity between inclusion on the list and access to efsi support and the efsi be conferred with discretion to select and support projects that are not included on the list .


### to ensure accountability to european citizens , the eib should regularly report to the european parliament and the council on the progress and impact of the efsi . ### to ensure accountability to european citizens , the commission and the eib should regularly report to the european parliament and the council on the progress and impact of the efsi .


### the purpose of the efsi shall be to support investments in the union and to ensure increased access to financing for companies having up to 3000 employees , with a particular focus on small and medium enterprises , through the supply of risk bearing capacity to the eib . ### the purpose of the efsi shall be to support investments in the union and to ensure increased access to financing for companies having up to 3000 employees , with a particular focus on small and medium enterprises as well as start - ups , through the supply of risk bearing capacity to the eib .


### the amount and terms of the financial contribution which shall be provided by the eib through the efsi ; ### the amount and terms of the financial contribution which shall be provided by the eib through the efsi and which shall not be inferior to 5 000 000 000 euros of guarantee ;


### the efsi agreement shall provide for the creation of a european investment advisory hub within the eib . the eiah shall have as its objective to build upon existing eib and commission advisory services in order to provide advisory support for investment project identification , preparation and development and act as a single technical advisory hub for project financing within the union . this shall include support on the use of technical assistance for project structuring , use of innovative financial instruments , use of public - private partnerships and advice , as appropriate , on relevant issues of eu legislation . ### the efsi agreement shall provide for the creation of a european investment advisory hub within the eib . the eiah shall have as its objective to build upon existing eib and commission advisory services in order to provide advisory support to member states and their authorities , private investors and investment platforms at all levels for investment project identification , preparation and development and act as a single technical advisory hub for project financing within the union . this shall include support on the use of technical assistance for project structuring , use of innovative financial instruments , use of public - private partnerships and advice , as appropriate , on relevant issues of eu legislation .


### the investment committee shall be composed of six independent experts and the managing director . independent experts shall have a high level of relevant market experience in project finance and be appointed by the steering board for a renewable fixed term of three years . ### the investment committee shall be composed of six independent experts and the managing director and a representative of the european commission . the representative of the european commission shall have no voting power but shall confirm the consistency of potential operations with union policies . independent experts shall have a high level of relevant market experience in project finance as well as in the investment areas concerned by the efsi as defined in article 5 , paragraph 2 , and be appointed by the steering board for a renewable fixed term of three years . their recruitment follows a transparent procedure and their declaration of financial interests is transmitted to the commission , the european parliament and the council .


### decisions of the investment committee shall be taken by simple majority . ### decisions of the investment committee shall be taken by simple majority and approved by the steering board .


### the eu guarantee shall be granted for eib financing and investment operations approved by the investment committee referred to in article 3 or funding to the eif in order to conduct eib financing and investment operations in accordance with article 7 . the operations concerned shall be consistent with union policies and support any of the following general objectives : ### the eu guarantee shall be granted , provided that the steering board approves it , for eib financing and investment operations approved by the investment committee referred to in article 3 or funding to the eif in order to conduct eib financing and investment operations in accordance with article 7 . the operations concerned shall be consistent with union policies and support any of the following general objectives :


### in accordance with article 17 of the statute of the european investment bank , the eib shall charge the beneficiaries of the financing operations to cover its expenses related to the efsi . without prejudice to sub - paragraph 2 and 3 , no administrative expenditure or any other fees of the eib for financing and investment activities conducted by the eib under this regulation shall be covered from the union budget . ### in accordance with article 17 of the statute of the european investment bank , the eib shall charge the beneficiaries of the financing operations to cover its expenses related to the efsi . under no circumstances the fees to be paid by beneficiaries to the eib shall exceed 3% of the efsi support effectively used for individual operations . without prejudice to sub - paragraph 2 and 3 , no administrative expenditure or any other fees of the eib for financing and investment activities conducted by the eib under this regulation shall be covered from the union budget or guarantee .


### provided that all relevant eligibility criteria are fulfilled , member states may use european structural and investment funds to contribute to the financing of eligible projects in which the eib is investing with the support of the eu guarantee . ### provided that all relevant eligibility criteria are fulfilled , member states may use european structural and investment funds or financial support granted by any eu programmes to contribute to the financing of eligible projects in which the eib is investing with the support of the eu guarantee .


### the target amount shall initially be met by the gradual payment of resources referred to in paragraph 2 . if there have been calls on the guarantee during the initial constitution of the guarantee fund , endowments to the guarantee fund provided for in points , and of paragraph 2 shall also contribute to meet the target amount up to an amount equal to the calls on the guarantee . ### the target amount shall initially be met by the gradual mobilisation of resources referred to in paragraph 2 . if there have been calls on the guarantee during the initial constitution of the guarantee fund , endowments to the guarantee fund provided for in points , and of paragraph 2 shall also contribute to meet the target amount up to an amount equal to the calls on the guarantee .


### the commission and the eib , with support from the member states , shall promote the creation of a transparent pipeline of current and potential future investment projects in the union . the pipeline is without prejudice to the final projects selected for support according to article 3 . ### the commission and the eib , with support from the member states , shall promote the creation of a transparent pipeline of current and potential future investment projects in the union . the pipeline is without prejudice to the final projects selected for support according to article 3 . in the transport sector , the pipeline should take as a basis the priorities and projects identified in regulations ten - t 1515 / 2013 and connecting europe facility 1516 / 2013 .


### at the request of the european parliament , the commission shall report to the european parliament on the application of this regulation . ### at the request of the european parliament and at least once a year , the commission shall report to the european parliament on the application of this regulation .


### therefore , institutional investors and asset managers should develop a policy on shareholder engagement , which determines , amongst others , how they integrate shareholder engagement in their investment strategy , monitor investee companies , conduct dialogues with investee companies and exercise voting rights . such engagement policy should include policies to manage actual or potential conflicts of interests , such as the provision of financial services by the institutional investor or asset manager , or companies affiliated to them , to the investee company . this policy , its implementation and the results thereof should be publicly disclosed on an annual basis . where institutional investors or asset managers decide not to develop an engagement policy and / or decide not to disclose the implementation and results thereof , they shall give a clear and reasoned explanation as to why this is the case . ### therefore , institutional investors and asset managers should develop a policy on shareholder engagement , which determines , amongst others , how they integrate shareholder engagement in their investment strategy , monitor investee companies , conduct dialogues with investee companies and exercise voting rights . such engagement policy should include policies to manage actual or potential conflicts of interests , such as the provision of financial services by the institutional investor or asset manager , or companies affiliated to them , to the investee company . this policy , its implementation and the results thereof should be publicly disclosed on an annual basis insofar as disclosure does not influence the competitive position of the relevant company in a negative way . where institutional investors or asset managers decide not to develop an engagement policy and / or decide not to disclose the implementation and results thereof , they shall give a clear and reasoned explanation as to why this is the case .


### institutional investors should annually disclose to the public how their equity investment strategy is aligned with the profile and duration of their liabilities and how it contributes to the medium to long - term performance of their assets . where they make use of asset managers , either through discretionary mandates involving the management of assets on an individual basis or through pooled funds , they should disclose to the public the main elements of the arrangement with the asset manager with regard to a number of issues , such as whether it incentivises the asset manager to align its investment strategy and decisions with the profile and duration of the liabilities of the institutional investor , whether it incentivises the asset manager to make investment decisions based on medium to long - term company performance and to engage with companies , how it evaluates the asset managers performance , the structure of the consideration for the asset management services and the targeted portfolio turnover . this would contribute to a proper alignment of interests between the final beneficiaries of institutional investors , the asset managers and the investee companies and potentially to the development of longer - term investment strategies and longer - term relationships with investee companies involving shareholder engagement . ### institutional investors should annually disclose to the public how their equity investment strategy is aligned with the profile and duration of their liabilities and how it contributes to the medium to long - term performance of their assets . where they make use of asset managers , either through discretionary mandates involving the management of assets on an individual basis or through pooled funds , they should disclose to the public the main elements of the arrangement with the asset manager with regard to a number of issues , such as whether it incentivises the asset manager to align its investment strategy and decisions with the profile and duration of the liabilities of the institutional investor , whether it incentivises the asset manager to make investment decisions based on medium to long - term company performance and to engage with companies , how it evaluates the asset managers performance , the structure of the consideration for the asset management services and the targeted portfolio turnover . this would contribute to a proper alignment of interests between the final beneficiaries of institutional investors , the asset managers and the investee companies and potentially to the development of longer - term investment strategies and longer - term relationships with investee companies involving shareholder engagement . public disclosure should only take place insofar as this does not influence the competitive position of the relevant company in a negative way .


### asset managers should be required to disclose to institutional investors how their investment strategy and the implementation thereof is in accordance with the asset management arrangement and how the investment strategy and decisions contributes to medium to long - term performance of the assets of the institutional investor . moreover , they should disclose whether they make investment decisions on the basis of judgements about medium - to long - term performance of the investee company , how their portfolio was composed and the portfolio turnover , actual or potential conflicts of interest and whether the asset manager uses proxy advisors for the purpose of their engagement activities . this information would allow the institutional investor to better monitor the asset manager , provide incentives for a proper alignment of interests and for shareholder engagement . ### asset managers should be required to publicly disclose how their investment strategy and the implementation thereof is in accordance with the asset management arrangement and how the investment strategy and decisions contributes to medium to long - term performance of the assets of the institutional investor . moreover , they should publicly disclose whether they make investment decisions on the basis of judgements about medium - to long - term performance of the investee company , how their portfolio was composed and the portfolio turnover , actual or potential conflicts of interest and whether the asset manager uses proxy advisors for the purpose of their engagement activities . this information would stimulate and allow the institutional investor to better monitor the asset manager , provide incentives for a proper alignment of interests and for shareholder engagement . public disclosure should only take place insofar as this does not influence the competitive position of the relevant company in a negative way .


### transactions with related parties may cause prejudice to companies and their shareholders , as they may give the related party the opportunity to appropriate value belonging to the company . thus , adequate safeguards for the protection of shareholders’ interests are of importance . for this reason member states should ensure that related party transactions representing more than 5 % of the companies’ assets or transactions which can have a significant impact on profits or turnover should be submitted to a vote by the shareholders in a general meeting . where the related party transaction involves a shareholder , this shareholder should be excluded from that vote . the company should not be allowed to conclude the transaction before the shareholders’ approval of the transaction . for transactions with related parties that represent more than 1% of their assets companies should publicly announce such transactions at the time of the conclusion of the transaction , and accompany the announcement by a report from an independent third party assessing whether the transaction is on market terms and confirming that the transaction is fair and reasonable from the perspective of the shareholders , including minority shareholders . member states should be allowed to exclude transactions entered into between the company and its wholly owned subsidiaries . member states should also be able to allow companies to request the advance approval by shareholders for certain clearly defined types of recurrent transactions above 5 percent of the assets , and to request from shareholders an advance exemption from the obligation to produce an independent third party report for recurrent transactions above 1 percent of the assets , under certain conditions , in order to facilitate the conclusion of such transactions by companies . ### transactions with related parties may cause prejudice to companies and their shareholders , as they may give the related party the opportunity to appropriate value belonging to the company . thus , adequate safeguards for the protection of shareholders ' interests are of importance . for this reason member states should ensure that related party transactions representing more than 5 % of the companies ' assets or transactions should be submitted either to a vote by the shareholders in a general meeting or to the approval of an administrative body of the company such as independent directors assessing whether the transaction is fair and reasonable from the perspective of the company and consequently its shareholders . for transactions with related parties that represent more than 1% of their assets companies should publicly announce such transactions at the time of the conclusion of the transaction . transactions entered into in the ordinary course of business or concluded on market terms or market equivalent terms should be excluded . member states should be allowed to exclude transactions entered into between the company and its wholly or partly owned subsidiaries or joint ventures . member states should also be able to allow companies to request the advance approval by shareholders or an independent administrative body for certain clearly defined types of recurrent transactions above 5 percent of the assets .