### article xxviii of the gatt 1994 and the related understanding govern the modification or withdrawal of concessions established in the tariff schedules of wto members . wto members affected by any such modification are entitled , under certain conditions , to withdraw substantially equivalent concessions . the union should adopt rebalancing measures in such cases , unless compensatory adjustments are agreed . action by the union would be aimed at inducing third countries to implement trade - enhancing measures . ### article xxviii of the gatt 1994 and the related understanding govern the modification or withdrawal of concessions established in the tariff schedules of wto members . wto members affected by any such modification are entitled , under certain conditions , to withdraw substantially equivalent concessions . the union should adopt rebalancing measures in such cases , unless compensatory adjustments are agreed . action by the union would be aimed at inducing third countries to implement measures to restore reciprocal advantages and enhance trade .


### the commission should evaluate the functioning of this regulation no later than three years after the first instance of its implementation with a view to assessing and , if necessary , improving its efficiency . ### the commission should evaluate the functioning of this regulation no later than five years after the first instance of its implementation with a view to assessing its implementation and , if necessary , improving its efficiency , considering in particular the possibility of extending its scope to the sector of intellectual property rights . the commission should include in its reports on the europe 2020 strategy an analysis of the relevance of that instrument , particularly as regards its ability to remove barriers to trade .


### where action is necessary to safeguard the interests of the union in the cases referred to in article 3 , the commission shall adopt an implementing act determining the appropriate commercial policy measures . such implementing act shall be adopted in accordance with the examination procedure referred to in article 8 . ### where action is necessary to safeguard the interests of the union in the cases referred to in article 3 , the commission shall adopt an implementing act determining the appropriate commercial policy measures . such implementing act shall be adopted in accordance with the advisory procedure referred to in article 8 .


### potential of the measures to provide relief to economic operators within the union affected by third country measures ; ### potential of the measures to provide relief to economic operators and member states within the union affected by third country measures ;


### the exclusion from public procurement of tenders the total value of which is made up for more than 50% of goods or services originating in the third country concerned ; and / or ### the exclusion from public procurement of tenders from an estimated value of &#8364 ; 5&#160 ; 000&#160 ; 000 excluding value added tax , the total value of which is made up for more than 50% of goods or services originating in the third country concerned ; and / or


### the exclusion from public procurement of tenders the total value of which is made up for more than 50% of goods or services originating in the third country concerned ; and / or ### the exclusion from public procurement of tenders the total value of which is made up for more than 50% of goods or services originating in the third country concerned ; the implementing act may lay down a threshold above which this exclusion is to apply ; and / or


### where , subsequently to the adoption of an implementing act pursuant to article 4 , the third country concerned accords satisfactory compensation to the union in the cases referred to in article 3 and , the commission may suspend the application of that implementing act for the duration of the compensation period . the suspension shall be decided in accordance with the examination procedure referred to in article 8 . ### where , subsequently to the adoption of an implementing act pursuant to article 4 , the third country concerned accords adequate and proportionate compensation to the union in the cases referred to in article 3 and , the commission may suspend the application of that implementing act for the duration of the compensation period . the suspension shall be decided in accordance with the advisory procedure referred to in article 8 .


### the commission shall seek information and views regarding the union ' s economic interests in specific products or sectors , in the application of this regulation , through a notice in the official journal of the european union or other suitable public communication means . ### the commission shall seek information and views regarding the union ' s economic interests in specific products or sectors , in the application of this regulation , through a notice in the official journal of the european union or other suitable public communication means . the publication shall indicate the period within which the information is to be collected . this period shall not exceed two months .


### the high and rapidly increasing demand for maritime space for different purposes , such as renewable energy installations , maritime shipping and fishing activities , ecosystem conservation and tourism and aquaculture installations , as well as the multiple pressures on coastal resources require an integrated planning and management approach . ### the high and rapidly increasing demand for maritime space for different purposes , such as renewable energy installations , the extraction of raw materials from the seabed , maritime shipping and fishing and shellfishing activities , ecosystem conservation and tourism and aquaculture installations , as well as the multiple pressures on coastal ecosystems and resources , require an integrated planning and management approach .


### in order to ensure the appropriate apportionment of maritime space among relevant uses and the coordinated management of coastal zones , a framework should be put in place that consists at least in the establishment and implementation by member states of maritime spatial plans and integrated coastal management strategies . ### in order to ensure the appropriate apportionment of maritime space among relevant uses and the coordinated management of coastal zones , a framework should be put in place that consists at least in the establishment and implementation by member states of maritime spatial plans and integrated coastal management plans .


### maritime spatial planning and integrated coastal management will result in better coordination of maritime and coastal activities , which can lead to significant economic benefits by providing transparency , predictability and stability for investors as well as lowering coordination and transaction costs . ### maritime spatial planning and integrated coastal management will result in better , more simple and more effective coordination , linkage and compatibility of maritime and coastal activities , which can lead to significant economic benefits by providing a framework of transparency , legal certainty , predictability and stability for investors as well as lowering coordination and transaction costs .


### maritime spatial planning and integrated coastal management will result in better coordination of maritime and coastal activities , which can lead to significant economic benefits by providing transparency , predictability and stability for investors as well as lowering coordination and transaction costs . ### maritime spatial planning and integrated coastal management will result in better coordination of maritime and coastal activities , which can lead to significant economic benefits by providing transparency , predictability and stability for investors as well as cutting bureaucracy and lowering coordination and transaction costs .


### the geographical scope of marine waters and coastal zones overlaps in the coastal and territorial waters of member states . the tools of maritime spatial planning and integrated coastal management are complementary , as they respectively focus on mapping existing and potential human activities for the purpose of preparing maritime spatial plans in marine waters and on the identification of measures for integrated management of these human activities in coastal zones . the joint coherent application of maritime spatial plans and integrated coastal management strategies will improve the land - sea interface planning and management . ### the geographical scope of marine waters and coastal zones overlaps in the coastal and territorial waters of member states . the tools of maritime spatial planning and integrated coastal management are complementary , as they respectively focus on mapping the multiple and diverse existing and potential uses and human activities for the purpose of preparing maritime spatial plans in marine waters and on the identification of measures for integrated management of these human activities in coastal zones . the joint , linked up and coherent application of maritime spatial plans and integrated coastal management strategies will improve the land - sea interface planning and management .


### the geographical scope of marine waters and coastal zones overlaps in the coastal and territorial waters of member states . the tools of maritime spatial planning and integrated coastal management are complementary , as they respectively focus on mapping existing and potential human activities for the purpose of preparing maritime spatial plans in marine waters and on the identification of measures for integrated management of these human activities in coastal zones . the joint coherent application of maritime spatial plans and integrated coastal management strategies will improve the land - sea interface planning and management . ### the geographical scope of marine waters and coastal zones overlaps in the coastal and territorial waters of member states . the tools of maritime spatial planning and integrated coastal management are complementary , as they respectively focus on mapping existing and potential human activities for the purpose of preparing maritime spatial plans in marine waters and on the identification of measures for integrated management of these human activities in coastal zones . the joint coherent application of maritime spatial plans and integrated coastal management strategies will improve the land - sea interface planning and management . the outermost regions , given their substantial economic dependence on the land - sea interface and on optimal use of their maritime space , should also be included in the scope of the directive .


### so as to respect proportionality and subsidiarity , as well as minimise additional administrative burden , transposition and implementation of this directive should to the greatest extent possible build upon existing national rules and mechanisms . integrated coastal management strategies should build on the principles and elements set out in council recommendation 2002 / 413 / ec and council decision 2010 / 631 / eu . ### so as to respect proportionality and subsidiarity , as well as minimise additional administrative burden , transposition and implementation of this directive should to the greatest extent possible build upon existing national rules and mechanisms with a view to making the procedures clear , simple and quick . integrated coastal management strategies should build on the principles and elements set out in council recommendation 2002 / 413 / ec and council decision 2010 / 631 / eu .


### in marine waters and coastal zones , ecosystems and marine and coastal resources are subject to significant pressures . human activities , but also climate change effects , natural hazards and shoreline dynamics such as erosion and accretion , can have severe impacts on coastal economic development and growth , as well as coastal and marine ecosystems , leading to deterioration of environmental status , loss of biodiversity and degradation of ecosystem services . due regard should be given to these various pressures in the establishment of maritime spatial plans and integrated coastal management strategies . moreover , healthy coastal and marine ecosystems and their multiple services , if integrated in planning decisions , can deliver substantial benefits in terms of food production , recreation and tourism , climate change mitigation and adaptation , shoreline dynamics control and disaster prevention . ### in marine waters and coastal zones , ecosystems and marine and coastal resources are subject to diverse and significant pressures . human activities , but also climate change effects , natural hazards and shoreline dynamics such as coastal erosion and sediment accretion , can have severe impacts on coastal economic development and growth , as well as coastal and marine ecosystems , leading to deterioration of environmental status , loss of biodiversity and degradation of ecosystem services . due regard should be given to these various pressures in the establishment of maritime spatial plans and integrated coastal management strategies . moreover , healthy coastal and marine ecosystems and their multiple services , if integrated in planning decisions , can deliver substantial benefits in terms of food production , recreation and tourism , climate change mitigation , adaptation and resilience , shoreline dynamics control and disaster prevention .


### maritime spatial planning and integrated coastal management should apply the ecosystem - based approach as referred to in article 1 of directive 2008 / 56 / ec so as to ensure that the collective pressure of all activities is kept within levels compatible with the achievement of good environmental status and that the capacity of marine ecosystems to respond to human - induced changes is not compromised , while enabling the sustainable use of marine goods and services by present and future generations . ### maritime spatial planning and integrated coastal management should apply the ecosystem - based approach as referred to in article 1 of directive 2008 / 56 / ec so as to ensure that the collective pressure of all activities is kept within levels compatible with the achievement of good environmental status and that the capacity of marine ecosystems to respond to human - induced changes is not compromised , while enabling the sustainable use of marine goods and services by present and future generations and allowing them to invest and be economically competitive .


### maritime and coastal activities are often closely interrelated . this requires maritime spatial plans and integrated coastal management strategies to be coordinated or integrated in order to guarantee the sustainable use of maritime space and management of coastal areas taking account of social , economic and environmental factors . ### maritime and coastal activities are often closely interrelated and interdependent . this requires maritime spatial plans and integrated coastal management strategies to be coordinated , linked up or integrated in order to guarantee the sustainable use of maritime space and management of coastal areas taking account of social , economic and environmental factors .


### in order to achieve the objectives of this directive , maritime spatial plans and integrated coastal management strategies should cover the full cycle of problem identification , information collection , planning , decision - making , implementation and monitoring of implementation and be based on best available scientific knowledge . best use should be made of mechanisms set out in existing or future legislation , including decision 2010 / 477 / eu on criteria and methodological standards for good environmental status of marine waters or the commission ' s marine knowledge 2020 initiative . ### in order to achieve the objectives of this directive , maritime spatial plans and integrated coastal management strategies should cover the full cycle of problem identification , information collection , planning , decision - making , implementation and monitoring of implementation and be based on best and most recent available scientific knowledge . best use should be made of mechanisms set out in existing or future legislation , including decision 2010 / 477 / eu on criteria and methodological standards for good environmental status of marine waters or the commission ' s marine knowledge 2020 initiative .


### the main purpose of maritime spatial planning is to identify and manage spatial uses and conflicts in maritime areas . in order to achieve that purpose , member states need at least to ensure that the planning process or processes result in a comprehensive map identifying the different uses of maritime space , taking into consideration long term changes due to climate change . ### the main purpose of maritime spatial planning is to identify and manage spatial uses and conflicts over use in maritime areas . in order to achieve those purposes , member states need at least to ensure that the planning process or processes result in a comprehensive map identifying the different uses and human activities in maritime space , both present and future , taking into consideration foreseeable long term changes due to climate change .


### member states should consult and coordinate their plans and strategies with the relevant member state or third country authorities in the marine region or sub - region or coastal zone concerned in conformity with the rights and obligations of these member states and third countries under european and international law . effective cross border cooperation between member states and with neighbouring third countries requires that the competent authorities in each member state are identified . member states therefore need to designate the competent authority or authorities responsible for cooperation with other member states or third countries . given the differences between various marine regions or sub - regions and coastal zones , it is not appropriate to prescribe in detail in this directive how these cooperation mechanisms should look . ### member states should consult and coordinate their plans and strategies with the relevant member state or third country authorities in the marine region or sub - region or coastal zone concerned , which should be duly encouraged and supported by the eu and implemented in conformity with the rights and obligations of these member states and third countries under european and international law . effective cross border cooperation between member states and with neighbouring third countries requires that the competent authorities in each member state are identified . member states therefore need to designate the competent authority or authorities responsible for cooperation with other member states or third countries . given the differences between various marine regions or sub - regions and coastal zones , it is not appropriate to prescribe in detail in this directive how these cooperation mechanisms should look .


### a variety of measures under different policies apply in coastal zones . in order to achieve the objectives of this directive , member states should prepare an inventory of these measures and analyse the need for additional actions , such as actions to prevent erosion and manage accretion , adapt to the effects of climate change , combat coastal and marine litter , develop green infrastructure and help prevent natural disasters . these should be applied in a coordinated and integrated way . in doing this , member states should consider all relevant coastal activities and pay particular attention to cross - sectoral and land - sea interactions between these activities . ### a variety of measures under different policies apply in coastal zones . in order to achieve the objectives of this directive , member states should prepare an inventory of these measures and analyse the need for additional actions , such as actions to prevent coastal erosion and manage sediment accretion and silting , adapt to the effects and consequences of climate change , combat coastal and marine litter , develop green infrastructure and help prevent natural disasters . these should be applied in a coordinated and integrated way . in doing this , member states should consider all relevant coastal activities and pay particular attention to cross - sectoral and land - sea interactions between these activities .


### a variety of measures under different policies apply in coastal zones . in order to achieve the objectives of this directive , member states should prepare an inventory of these measures and analyse the need for additional actions , such as actions to prevent erosion and manage accretion , adapt to the effects of climate change , combat coastal and marine litter , develop green infrastructure and help prevent natural disasters . these should be applied in a coordinated and integrated way . in doing this , member states should consider all relevant coastal activities and pay particular attention to cross - sectoral and land - sea interactions between these activities . ### a variety of measures under different policies apply in coastal zones . in order to achieve the objectives of this directive , member states should prepare an inventory of these measures and analyse the need for additional actions , such as actions to prevent erosion and manage accretion , adapt to the effects of climate change , combat coastal and marine litter , develop green infrastructure and help to prevent natural disasters and to combat the spread of algae . these should be applied in a coordinated and integrated way . in doing this , member states should consider all relevant coastal activities and pay particular attention to cross - sectoral and land - sea interactions between these activities .


### through maritime spatial plans and integrated coastal management strategies member states can reduce administrative burden and costs in support of their action to implement other relevant union legislation . the timelines for maritime spatial plans and integrated coastal management strategies should therefore be coherent with the timetables set out in other relevant legislation , especially : directive 2009 / 28 / ec , which requires that member state shall ensure that the share of energy from renewable sources in gross final consumption of energy in 2020 is at least 20 % and which identifies coordination of authorisation , certification and planning procedures , including spatial planning as an important contribution to achievement of the eu’s renewable energy targets ; directive 2008 / 56 / ec and annex a to decision 2010 / 477 / eu , which requires that member states shall take the necessary measures to achieve or maintain good environmental status in the marine environment by 2020 and which identify maritime spatial planning as a tool to support the ecosystem - based approach to the management of human activities in order to achieve good environmental status ; decision 884 / 2004 / ec of the european parliament and of the council amending decision no 1692 / 96 / ec on community guidelines for the development of the trans - european transport network which requires that the trans - european transport network shall be established by 2020 by integrating europe ' s land , sea and air transport infrastructure networks . ### through maritime spatial plans and integrated coastal management strategies member states can reduce administrative burden and costs in support of their action to implement other relevant union legislation . the timelines for maritime spatial plans and integrated coastal management strategies should therefore be coherent with the timetables set out in other relevant legislation , especially : directive 2009 / 28 / ec , which requires that member state ensure suitable growth in the share of energy from renewable sources in gross final consumption of energy in 2020 and which identifies coordination of authorisation , certification and planning procedures , including spatial planning as an important contribution to achievement of the eu’s renewable energy targets ; directive 2008 / 56 / ec and annex a to decision 2010 / 477 / eu , which requires that member states shall take the necessary measures to achieve or maintain good environmental status in the marine environment by 2020 and which identify maritime spatial planning as a tool to support the ecosystem - based approach to the management of human activities in order to achieve good environmental status ; decision 884 / 2004 / ec of the european parliament and of the council amending decision no 1692 / 96 / ec on community guidelines for the development of the trans - european transport network which requires that the trans - european transport network shall be established by 2020 by integrating europe ' s land , sea and air transport infrastructure networks .


### in order to ensure that the establishment of maritime spatial plans and integrated coastal management strategies is based on reliable data and to avoid additional administrative burden , it is essential that member states collect the best available data and information by making use of existing instruments and tools for data collection , such as those developed in the context of the marine knowledge 2020 initiative . ### in order to ensure that the establishment of maritime spatial plans and integrated coastal management strategies is based on reliable data and to avoid additional administrative burden and the associated delays and costs , it is essential that member states collect the best and most recent available data and information by making use of existing instruments and tools for data collection , such as those developed in the context of the marine knowledge 2020 initiative .


### timely transposition of the provisions of this directive is essential since the eu has adopted a number of policy initiatives that are to be implemented by the year 2020 and which this directive aims to support . the shortest possible deadline for the transposition of this directive should therefore be adopted . ### timely transposition of the provisions of this directive is essential since the eu has adopted a number of policy initiatives that are to be implemented by the year 2020 and which this directive aims to support and complement . the shortest possible deadline for the transposition of this directive should therefore be adopted .


### the provisions of this directive shall apply to marine waters and coastal zones . ### the provisions of this directive shall apply to marine waters and coastal zones , including those of the outermost regions .


### this directive shall not apply to activities the sole purpose of which is defence or national security . each member state shall , however , endeavour to ensure that such activities are conducted in a manner compatible with the objectives of this directive . ### this directive shall not apply to activities the sole purpose of which is defence or national security , except in relation to the establishment of a european coastguard corps . each member state shall , however , endeavour to ensure that such activities are conducted in a manner compatible with the objectives of this directive .


### when establishing maritime spatial plans and integrated coastal management strategies , member states shall give due regard to the particularities of the regions and the sub - regions , the respective sector activities , the marine waters and coastal zones concerned and potential climate change impacts . ### when establishing maritime spatial plans and integrated coastal management strategies , member states shall give due regard to the particularities of the regions and the sub - regions , notably the outermost regions , the respective present and future sector activities , the marine waters and coastal zones concerned and potential climate change impacts .


### identify the trans - boundary effects of maritime spatial plans and integrated coastal management strategies on the marine waters and coastal zones under the sovereignty or jurisdiction of third countries in the same marine region or sub - region and related coastal zones and deal with them in cooperation with the competent authorities of these countries in accordance with articles 12 and 13 ; ### identify the trans - boundary effects of maritime spatial plans , maritime security activities and integrated coastal management strategies on the marine waters and coastal zones under the sovereignty or jurisdiction of third countries in the same marine region or sub - region and related coastal zones and deal with them in cooperation with the competent authorities of these countries in accordance with articles 12 and 13 ;


### maritime spatial plans shall contain at least a mapping of marine waters which identifies the actual and potential spatial and temporal distribution of all relevant maritime activities in order to achieve the objectives as set out in article 5 . ### maritime spatial plans shall contain at least a mapping of marine waters which identifies the actual and potential spatial and temporal distribution of all relevant uses and human activities in order to achieve the objectives as set out in article 5 .


### fishing areas ; ### fishing areas and the potential for developing them ;


### fishing areas ; ### the mapping of available and potential fishing areas ;


### fishing and aquaculture ; ### fishing , shellfishing and aquaculture ;


### public participation shall ensure that the relevant stakeholders and authorities and the public concerned are consulted on the draft plans and strategies and have access to the results once available . ### public participation shall ensure that the relevant stakeholders and authorities and the public concerned are informed and consulted on the draft plans and strategies in good time and have access to the corresponding results once available .


### member states shall organise the collection of the best available data and the exchange of information necessary for maritime spatial plans and integrated coastal management strategies . ### member states shall organise the collection of the best and most recent available data and the exchange of information necessary for maritime spatial plans and integrated coastal management strategies .


### member states bordering a coastal zone or maritime area of a third country shall make every effort to coordinate their maritime spatial plans and integrated coastal management strategies with that third country in the marine region or sub - region and the related coastal zone concerned . ### member states bordering a coastal zone or maritime area of a third country shall make every effort to coordinate their maritime spatial plans with that third country in the marine region or sub - region concerned .


### member states bordering a coastal zone or maritime area of a third country shall make every effort to coordinate their maritime spatial plans and integrated coastal management strategies with that third country in the marine region or sub - region and the related coastal zone concerned . ### member states bordering a coastal zone or maritime area of a third country shall , in drawing up their maritime spatial plans and integrated coastal management strategies , bear in mind similar plans and strategies adopted by that third country in the marine region or sub - region and the related coastal zone concerned . the commission shall actively support dialogue with third countries so as to ensure alignment between the abovementioned plans and strategies .


### the commission shall submit a progress report to the european parliament and council outlining the progress made in implementing this directive . ### the commission shall , no later than two years after the publication of this directive in the official journal of the european union , submit a progress report to the european parliament and council outlining the progress made in implementing it .


### regional or sub - regional coordination — a summary is required of the mechanisms established in order to ensure coordination between member states where their waters are covered by this directive and fall within the same marine region or sub - region . ### regional or sub - regional coordination — a summary is required of the mechanisms established in order to ensure coordination between member states where their waters are covered by this directive and fall within the same coastal zone , marine region or sub - region .


### a counterparty which is subject to the reporting obligation may delegate the reporting of the details of the otc derivative contract to the other counterparty . ### a counterparty which is subject to the reporting obligation may delegate the reporting of the details of the otc derivative contract to the other counterparty , where it accepts the delegation .


### a ccp wishing to extend its business to additional services or activities not covered by the initial authorisation shall submit a request for extension . the offering of clearing services in a different currency or in financial instruments that significantly differ in their risk characteristics from those for which the ccp has already been authorised shall be considered an extension of that authorisation . ### a ccp wishing to extend its business to additional services or activities , such as those set out in this regulation , not covered by the initial authorisation shall submit a request for extension . the offering of clearing services in a different currency or in financial instruments that significantly differ in their risk characteristics from those for which the ccp has already been authorised shall be considered an extension of that authorisation .


### a ccp shall have a permanent , available and separate initial capital of at least eur 5 million to be authorised pursuant to article 10 . ### a ccp shall be constituted as a public limited company and have its own initial and permanent capital of at least eur 5 million to be authorised pursuant to article 10 .


### capital , together with retained earnings and reserves of a ccp , shall at all times be sufficient to ensure an orderly winding - down or restructuring of the activities over an appropriate time span and that the ccp is adequately protected against operational and residual risks . ### own capital of a ccp shall at all times be sufficient and liquid so as to ensure an orderly winding - down or restructuring of the activities over an appropriate time span and that the ccp is adequately protected against operational and residual risks .


### the college shall consist of : ### the college shall consist of representatives of :


### agreement on the voluntary entrustment of tasks among its members ; ### agreement on the voluntary entrustment of powers among its members ;


### withdrawal of authorisation ### withdrawal , annulment and renouncement of authorisation


### withdrawal of registration ### withdrawal , annulment and renouncement of registration


### where the ccp has not made use of the authorisation within 12 months , expressly renounces the authorisation or has provided no services or performed no activity for the preceding six months ; ### where the ccp has not made use of the authorisation within 12 months or has provided no services or performed no activity for the preceding six months ;


### esma and any other member of the college may , at any time , request that the competent authority of the member state where the ccp is established examine whether the ccp is still in compliance with the conditions under which the authorisation is granted . ### esma or an authority represented in the college may , at any time , directly or through its representative in the college , request that the competent authority of the member state where the ccp is established examine whether the ccp is still in compliance with the conditions under which the authorisation is granted . the request shall be accompanied by a justification .


### where a ccp has been declared bankrupt or is being compulsorily wound up , confidential information which does not concern third parties may be divulged in civil or commercial proceedings where necessary for carrying out the proceeding . ### where a ccp has been declared bankrupt or is being wound up , confidential information which does not concern third parties may be divulged in civil or commercial proceedings where necessary for carrying out the proceeding .


### without prejudice to the right of competent authorities to be duly informed , the members of the risk committee shall be bound by confidentiality . where the chairman of the risk committee determines that a member has an actual or potential conflict of interest on a particular matter , that member shall not be allowed to vote on that matter . ### without prejudice to the right of competent authorities to be duly informed , the members of the risk committee shall be bound by confidentiality . where the chairman of the risk committee determines that a member has an actual or potential conflict of interest on a particular matter , or that member announces the existence of one , the member concerned will not vote on that matter but will abstain .


### a ccp shall maintain , for a period of at least ten years , all the records on the services and activity provided so as to enable the competent authority to monitor the compliance with the requirements under this regulation . ### a ccp shall maintain , on paper or in digital format , for a period of at least ten years , all the records on the services and activity provided so as to enable the competent authority to monitor the compliance with the requirements under this regulation .


### a ccp shall maintain , for a period of at least ten years following the termination of a contract , all information on all contracts it has processed . that information shall at a minimum enable the identification of the original terms of a transaction before clearing by that ccp . ### a ccp shall maintain , on paper or in digital format , for a period of at least ten years following the termination of a contract , all information on all contracts it has processed . that information shall at a minimum enable the identification of the original terms of a transaction before clearing by that ccp .


### a ccp shall notify the competent authority of any changes to its management , and shall provide the competent authority of all the information necessary to assess whether the board members are of sufficiently good repute and sufficiently experienced . ### both when it is set up and in the course of its functioning , a ccp shall notify the competent authority of any changes to the composition of its management , and shall provide the competent authority of all the information necessary to assess whether the board members and executive directors are of sufficiently good repute and sufficiently experienced .


### where the conduct of a member of the board is likely to be prejudicial to the sound and prudent management of the ccp , the competent authority shall take appropriate measures , including removing that member from the board . ### where the conduct of a manager or executive director is likely to be prejudicial to the sound and prudent management of the ccp , the competent authority shall take appropriate measures , including removing that person from the post held in the ccp .


### outsourcing does not result in the delegation of its responsibility ; ### outsourcing does not release the ccp from liability ;


### the trade repository expressly renounces the registration or has provided no services for the preceding six months ; ### the trade repository has provided no services for the preceding six months ;


### the competent authority of a member state in which the trade repository services performs its services and activities and which considers that one of the conditions referred to in paragraph 1 has been met , may request esma to examine whether the conditions for withdrawal of registration are met . where esma decides not to withdraw the registration of the trade repository concerned , it shall provide full reasons . ### the competent authority of a member state in which the trade repository services performs its services and activities and which considers that one of the conditions referred to in paragraph 1 has been met , may request esma to examine whether the conditions for withdrawal of registration are met . reasons shall be given for the decision .


### in the absence of horizontal community legislation , the rights of third - country nationals vary , depending on the member state in which they work and on their nationality . they do not have the same rights as nationals of the member state , or other eu citizens . with a view to pursue a further development of a coherent immigration policy , to lower the rights gap between eu citizens and third - country nationals legally working and complementing the existing immigration acquis a set of rights should be laid down in particular in the form of specifying the policy fields where equal treatment with own nationals is provided for third - country workers legally admitted in a member states but not yet long term residents . such provisions are intended to establish a level playing field within the eu , to recognize that such third - country nationals legally working in a member states contribute to the european economy through their work and tax payments and to serve as a safeguard to reduce unfair competition between own nationals and third - country nationals resulting from possible exploitation of the latter . ### in the absence of horizontal union legislation , the rights of third - country nationals vary , depending on the member state in which they work and on their nationality . with a view to pursuing a further development of a coherent immigration policy and narrowing the rights gap between eu citizens and third country nationals legally working and complementing the existing immigration acquis , a set of rights should be laid down in particular in the form of specifying the policy fields where equal treatment with own nationals is provided for third - country workers legally admitted in a member state but not yet long - term residents . such provisions are intended to establish a minimum level playing field within the eu , to recognise that such third - country nationals legally working in member states contribute to the european economy through their work and tax payments and to serve as a safeguard to reduce unfair competition between own nationals and third - country nationals resulting from possible exploitation of the latter . definition of ' third country worker ' as laid down in article 2 of this directive means , without prejudice to the interpretation of the concept of employment relationship in other eu legislation , any third - country national who has been admitted to the territory of a member state , is legally resident and is allowed to work in the context of a paid relationship under national law and / or in accordance with national practice in that member state .


### third - country nationals who work in the territory of a member state should enjoy equal treatment as regards social security . branches of social security are defined in the council regulation no 1408 / 71 of 14 june 1971 on the application of social security schemes to employed persons , to self - employed persons and to members of their families moving within the community1 . council regulation no 859 / 2003 of 14 may 2003 extending the provisions of regulation no 1408 / 71 and regulation no 574 / 72 to nationals of third countries who are not already covered by those provisions solely on the ground of their nationality2 extends the provisions of regulation no 1408 / 71 to third country nationals who are legally residing in the european union and who are in a cross - border situation . the provisions on equal treatment concerning social security in this directive also apply to persons coming to a member state directly from a third country . nevertheless , this directive should not confer more rights than those already provided in existing community legislation in the field of social security for third - country nationals who have cross - border elements between member states . ### third - country workers should enjoy equal treatment as regards social security . branches of social security are defined in regulation no 883 / 2004 of the european parliament and of the council of 29 april 2004 on the coordination of social security systems1 . the provisions on equal treatment concerning social security in this directive also apply to workers coming to a member state directly from a third country . nevertheless , this directive should not confer on third - country workers more rights than those already provided in the existing union legislation in the field of social security for third - country nationals who have cross - border elements between member states . this directive , furthermore , should not grant rights in relation to situations which lie outside the scope of union legislation , for example family members residing in a third country . this directive grants rights only in relation to those family members who join the third - country worker to reside in any member state on the basis of family reunification or to those family members who already reside legally in the given member state .


### ' third - country worker ' means any third - country national who has been admitted to the territory of a member state and is allowed to work legally in that member state ; ### ' third country worker ' means , without prejudice to the interpretation of the concept of employment relationship in other eu legislation , any third - country national who has been admitted to the territory of a member state , is legally resident and is allowed to work in the context of a paid relationship under national law and / or in accordance with national practice in that member state ;


### ‘ third - country worker’ means any third - country national who has been admitted to the territory of a member state and is allowed to work legally in that member state ; ### ‘ third - country worker’ means any third - country national who has been admitted to the territory of a member state , is legally resident and is allowed to work in the context of a paid relationship under national law and / or in accordance with national practice in that member state ;


### by council decisions 2009 / 102 / ec , 2009 / 290 / ec and 2009 / 459 / ec hungary , latvia and romania respectively were granted such financial assistance . ### by council decisions 2009 / 102 / ec and 2009 / 459 / ec hungary and romania respectively were granted such financial assistance .


### on 11 july 2011 , finance ministers of the 17 euro - area member states signed the treaty establishing the european stability mechanism . it is foreseen that by 2013 , the esm will assume the tasks currently fulfilled by the european financial stability facility and the european financial stabilisation mechanism . this future mechanism should therefore already be taken into account by this regulation . ### on 2 february 2012 , the 17 euro - area member states signed the treaty establishing the european stability mechanism . it is foreseen that by july 2012 the esm will have entered into force and will have assumed the tasks currently fulfilled by the european financial stability facility and the european financial stabilisation mechanism . the esm should therefore be taken into account by this regulation .


### on 11 july 2011 , finance ministers of the 17 euro - area member states signed the treaty establishing the european stability mechanism . it is foreseen that by 2013 , the esm will assume the tasks currently fulfilled by the european financial stability facility and the european financial stabilisation mechanism . this future mechanism should therefore already be taken into account by this regulation . ### on 2 february 2012 , the 17 euro - area member states signed the treaty establishing the european stability mechanism . it is foreseen that by july 2012 the esm enters into force and will assume the tasks currently fulfilled by the european financial stability facility and the european financial stabilisation mechanism . the esm should therefore be taken into account by this regulation .


### in light of the eib ' s long - standing expertise as the major financier of infrastructure projects and its commitment to support the economic recovery , the commission should be able to create in partnership with the eib risk sharing instruments . the specific terms and conditions of the co - operation should be laid down in an agreement between the commission and the eib . ### in light of the eib ' s long - standing expertise as the major financier of infrastructure projects and its commitment to support the economic recovery , the commission should be able to create by means of concluding , for such purpose , a cooperation agreement with the eib risk sharing instruments . in order to provide legal certainty , it is necessary to exemplify the main and typical terms and conditions of such a co - operation agreement in the regulation , but due to the specific crisis - management nature of the risk sharing instrument , envisaged under this regulation , the concrete and specific terms and conditions of each cooperation should be laid down in the individual cooperation agreement , to be concluded between the commission and the eib in accordance with council regulation no 1605 / 2002 of 25 june 2002 on the financial regulation applicable to the general budget of the european communities .


### traceability and accounting , information on the use of the funds and monitoring and control systems ; and ### traceability and accounting , governance structure in close consultation with the member state and participating financial institutions , information on the leverage ratio , on the use of the funds and on monitoring and control systems ; and


### in article 36 , the following paragraph 2a is inserted : ' 2a . member states meeting one of the conditions set out in article 77 , may contribute a part of the financial allocations indicated in article 19 and article 20 to a risk sharing instrument , to be established by the commission in agreement with the european investment bank , or in agreement with national or international public sector bodies or bodies governed by private law with a public service mission providing adequate guarantees as referred to in article 54 of regulation no 1605 / 2002 , under similar terms and conditions to those applied to and by the european investment bank , to cover the provisioning and capital allocation of guarantees and loans , as well as other financial facilities , granted under the risk sharing instrument . such risk sharing instrument shall be used exclusively for loans and guarantees , as well as other financial facilities , to finance operations co - financed by the european regional development fund or the cohesion fund , regarding expenditure which is not covered by article 56 . the risk sharing instrument shall be implemented by the commission within the framework of indirect centralised management in accordance with article 54 of regulation no 1605 / 2002 . payments to the risk sharing instrument shall be made in tranches , in accordance with the scheduled use of the risk sharing instrument in providing loans and guarantees financing specific operations . the member state concerned shall address a request to the commission who shall adopt a decision by means of an implementing act , describing the system established to guarantee that the amount available is used for the exclusive benefit of the member state which provided it within its cohesion policy financial allocation pursuant to article 18 , as well as the terms and conditions applicable to such risk sharing instrument . these terms and conditions shall at least address the following : traceability and accounting , information on the use of the funds and monitoring and control systems ; and structure of the fees and other administrative and management costs . the financial allocations to the risk - sharing instrument shall be strictly capped and shall not create contingent liabilities for the union budget or the member state concerned . any amount left - over after the completion of an operation covered by the risk sharing instrument may be reused , at the request of the member sate concerned , within the risk - sharing instrument , if the member state still meets one of the conditions set out as specified in article 77 . if the member state no longer meets those conditions , the amount left - over shall be considered as assigned revenue within the meaning of article 18 of the financial regulation . at the request of the member state concerned , additional commitment appropriations generated by this assigned revenue shall be added the following year to the cohesion policy financial allocation of the member state concerned . ' ### the following article is inserted : ' article 36a risk sharing instrument for the purpose of this article a risk - sharing instrument means a financial instrument which guarantees the total or partial coverage of a defined risk , where appropriate in exchange for an agreed remuneration . 2 . member states meeting one of the conditions set out in article 77 , may contribute a part of the financial allocations indicated in article 19 and article 20 to a risk - sharing instrument , to be established by the commission in agreement with the european investment bank , or in agreement with national or international public sector bodies or bodies governed by private law with a public service mission providing adequate guarantees as referred to in article 54 of regulation no 1605 / 2002 , under similar terms and conditions to those applied to and by the european investment bank , to cover the provisioning and capital allocation of guarantees and loans , as well as other financial facilities , granted under the risk - sharing instrument . 3 . the cooperation agreement , referred to in paragraph 2 , shall contain rules in particular on the following : the total amount of the union contribution and the schedule about how it will be made available ; the trust account conditions to be set up by the contracted implementing body ; the eligibility criteria for use of the union contribution , the details of the exact risk - sharing , to be ensured and the guarantees to be provided by the contracted implementing body ; the pricing of the instrument , based on the risk margin and the coverage of all the administrative costs of the instrument ; the application and approval procedure of the project proposals , covered by the instrument ; the period of availability of the instrument and the reporting requirements . the exact risk - sharing , which shall be undertaken in the cooperation agreement by the contracted implementing body , shall as an average aim at being at least 1 , 5 times the amount of the union contribution to the risk - sharing instrument . payments to the risk - sharing instrument shall be made in tranches , in accordance with the scheduled use of the risk - sharing instrument in providing loans and guarantees financing specific operations . 4 . the risk sharing instrument shall be used to finance operations co - financed by the european regional development fund or the cohesion fund , regarding , by way of derogation from article 54 , investment costs which cannot be taken into account as eligible expenditure pursuant to article 55 or as public expenditure as defined in article 2 , pursuant to the eu rules on state aids . it may also be used to finance operations , which contribute to the achievement of the objectives of the national strategic reference framework of the requesting member state and the community strategic guidelines on cohesion1 , and bring the greatest added value to the union strategy for smart , sustainable and inclusive growth . 5 . the risk sharing instrument shall be implemented by the commission within the framework of indirect centralised management in accordance with article 54 and article 56 of regulation no 1605 / 2002 . 6 . an eligible member state seeking to benefit from a risk - sharing instrument shall submit a written request to the commission not later than 31 august 2013 . in its request , the member state shall provide all the information necessary to establish : that it meets one of the conditions referred to in points , or of article 77 , by providing a reference to a council decision or other legal act proving this fact ; the list of programmes co - financed either by the erdf or by the cf and the part of the 2012 and 2013 allocations to such programmes that it wants to take out of those programmes in order to allocate to the risk - sharing instrument ; the list of proposed projects pursuant to paragraph 4 and the part of the 2012 and 2013 allocations that it wants to take out of the programmes in order to allocate to the risk - sharing instrument ; the amount available for its exclusive benefit within its cohesion policy financial allocation pursuant to article 18 and an indication of the amount , which could be earmarked for the objectives of the risk - sharing instrument exclusively from the eu budget commitments which remain to be effected in years 2012 and 2013 pursuant to article 75 ; 7 . the commission - after verifying that the member state request is justified - shall adopt within four months a decision by means of an implementing act describing the system established to guarantee that the amount available is used for the exclusive benefit of the member state which provided it within its cohesion policy financial allocation pursuant to article 18 , as well as on the concrete terms and conditions of the participation of the requesting member state in the risk - sharing instrument . the concrete terms and conditions shall in particular include the following : traceability and accounting , information on the use of the funds , payments conditions and monitoring and control systems ; the structure of the fees and other administrative and management costs ; an indicative list of eligible projects for financing and the maximum amount of the union contribution that can be allocated to the risk - sharing instrument from the member state allocations available , and the instalments for practical implementation . the commission decision shall be published in the official journal of the european union . when deciding on the member state request , the commission shall ensure that only projects , for which a favourable financing decision has been taken either by the eib or by a national or international public sector body or body governed by private law with a public service mission , shall be accepted as eligible for being financed from an established risk - sharing instrument . 8 . the commission decision , referred to in paragraph shall be preceded by the revision of the operational programmes concerned under the erdf and the cf in accordance with article 33 . 9 . the financial allocations to the risk - sharing instrument shall be strictly capped and shall not exceed 10% of the indicative total allocation for the requesting member state for the years 2007 - 2013 regarding the erdf and the cf , which was approved in accordance with article 28b . the financial allocations available to the projects in paragraph 4 , subparagraph 2 of this article are limited to the amounts left after financing the operations mentioned in paragraph 4 , subparagraph 1 . beyond the total union contribution to the risk - sharing instrument , endorsed in the decision , referred to in paragraph , union participation in a risk - sharing instrument shall not create any further contingent liabilities either for the union budget or for the member state concerned . 10 . any reflow or any amount left - over after the completion of an operation covered by the risk - sharing instrument may be reused , at the request of the member state concerned , within the risk - sharing instrument , if the member state still meets one of the conditions set out in article 77a , b and c . if the member state no longer meets any of those conditions , the amount left - over or the reflow shall be considered as assigned revenue within the meaning of article 18 of the financial regulation . at the request of the member state concerned , additional commitment appropriations generated by this assigned revenue shall be added the following year to the cohesion policy financial allocation of the member state concerned . '


### in article 36 , the following paragraph 2a is inserted : ' 2a . member states meeting one of the conditions set out in article 77 , may contribute a part of the financial allocations indicated in article 19 and article 20 to a risk sharing instrument , to be established by the commission in agreement with the european investment bank , or in agreement with national or international public sector bodies or bodies governed by private law with a public service mission providing adequate guarantees as referred to in article 54 of regulation no 1605 / 2002 , under similar terms and conditions to those applied to and by the european investment bank , to cover the provisioning and capital allocation of guarantees and loans , as well as other financial facilities , granted under the risk sharing instrument . such risk sharing instrument shall be used exclusively for loans and guarantees , as well as other financial facilities , to finance operations co - financed by the european regional development fund or the cohesion fund , regarding expenditure which is not covered by article 56 . the risk sharing instrument shall be implemented by the commission within the framework of indirect centralised management in accordance with article 54 of regulation no 1605 / 2002 . payments to the risk sharing instrument shall be made in tranches , in accordance with the scheduled use of the risk sharing instrument in providing loans and guarantees financing specific operations . the member state concerned shall address a request to the commission who shall adopt a decision by means of an implementing act , describing the system established to guarantee that the amount available is used for the exclusive benefit of the member state which provided it within its cohesion policy financial allocation pursuant to article 18 , as well as the terms and conditions applicable to such risk sharing instrument . these terms and conditions shall at least address the following : traceability and accounting , information on the use of the funds and monitoring and control systems ; and structure of the fees and other administrative and management costs . the financial allocations to the risk - sharing instrument shall be strictly capped and shall not create contingent liabilities for the union budget or the member state concerned . any amount left - over after the completion of an operation covered by the risk sharing instrument may be reused , at the request of the member sate concerned , within the risk - sharing instrument , if the member state still meets one of the conditions set out as specified in article 77 . if the member state no longer meets those conditions , the amount left - over shall be considered as assigned revenue within the meaning of article 18 of the financial regulation . at the request of the member state concerned , additional commitment appropriations generated by this assigned revenue shall be added the following year to the cohesion policy financial allocation of the member state concerned . ' ### in article 36 , the following paragraph 2a is inserted : ' 2a . member states may contribute a part of the financial allocations indicated in article 19 and article 20 to a risk - sharing instrument , to be established by the commission in agreement with the european investment bank , or in agreement with national or international public sector bodies or bodies governed by private law with a public service mission providing adequate guarantees as referred to in article 54 of regulation no 1605 / 2002 , under similar terms and conditions to those applied to and by the european investment bank , to cover the provisioning and capital allocation of guarantees and loans , as well as other financial facilities , granted under the risk - sharing instrument . such risk - sharing instruments shall be used exclusively for loans and guarantees , as well as other financial facilities , to finance operations co - financed by the european regional development fund or the cohesion fund , or infrastructure and sme projects relevant in the context of economic recovery and job creation in the member states concerned . the risk - sharing instrument shall be implemented by the commission within the framework of indirect centralised management in accordance with article 54 of regulation no 1605 / 2002 . payments to the risk - sharing instrument shall be made in tranches , in accordance with the scheduled use of the risk - sharing instrument in providing loans and guarantees financing specific operations . at the request of the member state concerned , the commission shall adopt a decision , in accordance with the request of the member state concerned , by means of an implementing act , describing the system established to guarantee that the amount available is used for the exclusive benefit of the member state which provided it within its cohesion policy financial allocation pursuant to article 18 , as well as the terms and conditions applicable to such risk sharing instrument . these terms and conditions shall at least address the following : traceability and accounting , information on the use of the funds and monitoring and control systems ; and structure of the fees and other administrative and management costs . the financial allocations to the risk - sharing instrument shall be strictly capped and shall not create contingent liabilities for the union budget or the member state concerned . any amount left - over after the completion of an operation covered by the risk sharing instrument may be reused at the request of the member sate concerned within the risk - sharing instrument until the end of the 2007 - 2013 programming period or will be considered as assigned revenue within the meaning of article 18 of the financial regulation . at the request of the member state concerned , additional commitment appropriations generated by this assigned revenue shall be added the following year to the cohesion policy financial allocation of the member state concerned . '


### in article 36 , the following paragraph 2a is inserted : ' 2a . member states meeting one of the conditions set out in article 77 , may contribute a part of the financial allocations indicated in article 19 and article 20 to a risk sharing instrument , to be established by the commission in agreement with the european investment bank , or in agreement with national or international public sector bodies or bodies governed by private law with a public service mission providing adequate guarantees as referred to in article 54 of regulation no 1605 / 2002 , under similar terms and conditions to those applied to and by the european investment bank , to cover the provisioning and capital allocation of guarantees and loans , as well as other financial facilities , granted under the risk sharing instrument . such risk sharing instrument shall be used exclusively for loans and guarantees , as well as other financial facilities , to finance operations co - financed by the european regional development fund or the cohesion fund , regarding expenditure which is not covered by article 56 . the risk sharing instrument shall be implemented by the commission within the framework of indirect centralised management in accordance with article 54 of regulation no 1605 / 2002 . payments to the risk sharing instrument shall be made in tranches , in accordance with the scheduled use of the risk sharing instrument in providing loans and guarantees financing specific operations . the member state concerned shall address a request to the commission who shall adopt a decision by means of an implementing act , describing the system established to guarantee that the amount available is used for the exclusive benefit of the member state which provided it within its cohesion policy financial allocation pursuant to article 18 , as well as the terms and conditions applicable to such risk sharing instrument . these terms and conditions shall at least address the following : traceability and accounting , information on the use of the funds and monitoring and control systems ; and structure of the fees and other administrative and management costs . the financial allocations to the risk - sharing instrument shall be strictly capped and shall not create contingent liabilities for the union budget or the member state concerned . any amount left - over after the completion of an operation covered by the risk sharing instrument may be reused , at the request of the member sate concerned , within the risk - sharing instrument , if the member state still meets one of the conditions set out as specified in article 77 . if the member state no longer meets those conditions , the amount left - over shall be considered as assigned revenue within the meaning of article 18 of the financial regulation . at the request of the member state concerned , additional commitment appropriations generated by this assigned revenue shall be added the following year to the cohesion policy financial allocation of the member state concerned . ' ### the following article is inserted : ' article 36a risk sharing instrument for the purpose of this article a risk - sharing instrument means a financial instrument which guarantees the total or partial coverage of a defined risk , where appropriate in exchange for an agreed remuneration . 2 . member states meeting one of the conditions set out in article 77a , b and c , may contribute a part of the financial allocations indicated in article 19 and article 20 to a risk sharing instrument , which shall be established by means of a cooperation agreement , to be concluded by the commission either with the european investment bank , or with national or international public sector bodies or bodies governed by private law with a public service mission providing adequate guarantees as referred to in article 54 of regulation no 1605 / 2002 , under similar terms and conditions to those applied to and by the european investment bank , to cover the provisioning and capital allocation of guarantees and loans , as well as other financial facilities , granted under the risk sharing instrument . 3 . the cooperation agreement , referred to in paragraph 2 , shall contain rules in particular on the following : the total amount of the union contribution and the schedule about how it will be made available ; the trust account conditions to be set up by the contracted implementing body ; the eligibility criteria for the use of the union contribution , the details of the exact risk - sharing , to be ensured and the guarantees to be provided by the contracted implementing body ; the pricing of instrument , based on the risk margin and the coverage of all the administrative costs of the instrument ; the application and approval procedure of the project proposals , covered by the instrument ; the period of availability of the instrument and the reporting requirements . the exact risk - sharing , which shall be undertaken in the cooperation agreement by the contracted implementing body , shall as an average aim at being at least 1 , 5 times the amount of the union contribution to the risk - sharing instrument . payments to the risk sharing instrument shall be made in tranches , in accordance with the scheduled use of the risk sharing instrument in providing loans and guarantees financing specific operations . 4 . the risk sharing instrument shall be used to finance operations co - financed by the european regional development fund or the cohesion fund , regarding , by way of derogation from article 54 , investment costs which cannot be taken into account as eligible expenditure pursuant to article 55 or as public expenditure as defined in article 2 , pursuant to the eu rules on state aids . it may also be used to finance operations , which contribute to the achievement of the objectives of the national strategic reference framework of the requesting member state and the community strategic guidelines on cohesion1 , and bring the greatest added value to the union strategy for smart , sustainable and inclusive growth . 5 . the risk sharing instrument shall be implemented by the commission within the framework of indirect centralised management in accordance with article 54 and article 56 of regulation no 1605 / 2002 . 6 . an eligible member state seeking to benefit from a risk - sharing instrument shall submit a written request to the commission not later than 31 august 2013 . in its request , the member state shall provide all the information necessary to establish : that it meets one of the conditions referred to in points , or of article 77 , by providing a reference to a council decision or other legal act proving this fact ; the list of programmes co - financed either by the erdf or by the cf and the part of the 2012 and 2013 allocations to such programmes that it wants to take out of those programmes in order to reallocate those amounts to the risk - sharing instrument ; the list of proposed projects pursuant to paragraph 4 and the part of the 2012 and 2013 allocations that it wants to take out of the programmes in order to reallocate those amounts to the risk - sharing instrument ; the amount available for its exclusive benefit within its cohesion policy financial allocation pursuant to article 18 and an indication on the amount , which could be earmarked for the objectives of the risk - sharing instrument exclusively from the eu budget commitments which remain to be effected in years 2012 and 2013 pursuant to article 75 ; 7 . the commission - after verifying that the member state request is justified - shall adopt within four months a decision describing the system established to guarantee that the amount available is used for the exclusive benefit of the member state which provided it within its cohesion policy financial allocation pursuant to article 18 , as well as on the concrete terms and conditions of the participation of the requesting member state in the risk sharing instrument . the concrete terms and conditions shall in particular address the following : traceability and accounting , information on the use of the funds , payments conditions and monitoring and control systems ; structure of the fees and other administrative and management costs ; indicative list of eligible projects for financing and the maximum amount of the union contribution that can be allocated to the risk - sharing instrument from the member state allocations available , and the instalments for practical implementation . the commission decision shall be published in the official journal of the european union . when deciding on the member state request , the commission shall ensure that only projects , for which a favourable financing decision has been taken either by the eib or by a national or international public sector body or body governed by private law with a public service mission , shall be accepted as eligible from being financed from an established risk - sharing instrument . 8 . the commission decision , referred to in paragraph shall be preceded by the revision of the operational programmes concerned under the erdf and cf in accordance with article 33 . 9 . the financial allocations to the risk - sharing instrument shall be strictly capped and shall not exceed 10% of the indicative total allocation for the requesting member state for the years 2007 - 2013 regarding erdf and cf , which was approved in accordance with article 28b . the financial allocations available to the projects in paragraph 4 , subparagraph 2 of this article are limited to the amounts left after financing the operations mentioned in paragraph 4 , subparagraph 1 . beyond the total union contribution to the risk - sharing instrument , endorsed in the decision , referred to in paragraph , the union participation in a risk - sharing instrument shall not create any further contingent liabilities neither for the union budget nor for the member state concerned . 10 . any amount left - over after the completion of an operation covered by the risk sharing instrument may be reused , at the request of the member state concerned , within the risk - sharing instrument , if the member state still meets one of the conditions set out in article 77a , b and c . if the member state no longer meets any of those conditions , the amount left - over shall be considered as assigned revenue within the meaning of article 18 of the financial regulation . at the request of the member state concerned , additional commitment appropriations generated by this assigned revenue shall be added the following year to the cohesion policy financial allocation of the member state concerned . _______________ 1 see : council decision no . 2006 / 702 / ec of 6 october 2006 on community strategic guidelines on cohesion , oj l 291 , 21 . 10 . 2006 , p . 11 . '


### the deadlines for the transmission of the mip relevant data shall be those laid down pursuant to the relevant basic acts or shall be communicated by the commission in specific calendars taking into account the needs of the union . ### the deadlines for the transmission of the mip relevant data shall be those laid down pursuant to the relevant basic acts or shall be communicated by the commission in specific calendars taking into account the european semester framework and the needs of the union .


### the commission may express a reservation on the quality of a member state ' s mip relevant data . no later than three working days before the planned publication date , the commission shall communicate to the member state concerned and to the president of the economic policy committee the reservation it intends to express and make public . where the issue is resolved after publication of the data and the reservation , withdrawal of the reservation shall be made public immediately thereafter . ### the commission may express a reservation on the quality of a member state ' s mip relevant data . no later than ten working days before the planned publication date , the commission shall communicate to the member state concerned and to the president of the economic policy committee the reservation it intends to express and make public . where the issue is resolved after publication of the data and the reservation , withdrawal of the reservation shall be made public immediately thereafter .


### the union land use , land use change and forestry sector is a net sink that removes from the atmosphere greenhouse gasses in an amount equivalent to a significant share of total union emissions . it results in anthropogenic emissions and removals of greenhouse gases as a consequence of changes in the quantity of carbon stored in vegetation and soils . emissions and removals of greenhouse gases resulting from the lulucf sector are not counted towards the union ' s 20 % greenhouse gas emission reduction targets for 2020 pursuant to decision no 406 / 2009 / ec of the european parliament and of the council of 23 april 2009 on the efforts of member states to reduce their greenhouse gas emissions to meet the community ' s greenhouse gas emission reduction commitments up to 202020 and directive 2003 / 87 / ec of the european parliament and of the council of 13 october 2003 establishing a scheme for greenhouse gas emission allowance trading within the community and amending council directive 96 / 61 / ec21 , though they count in part towards the union ' s quantified emission limitation and reduction target pursuant to article 3 of the kyoto protocol to the united nations framework convention on climate change , approved by council decision 2002 / 358 / ec22 . ### the union land use , land use change and forestry sector is a net sink that removes from the atmosphere greenhouse gasses in an amount equivalent to a significant share of total union emissions . it results in anthropogenic emissions and removals of greenhouse gases as a consequence of changes in the quantity of carbon stored in vegetation and soils . the increased sustainable use of harvested wood products can substantially limit emissions and enhance removals from the atmosphere . emissions and removals of greenhouse gases resulting from the lulucf sector are not counted towards the union ' s 20 % greenhouse gas emission reduction targets for 2020 pursuant to decision no 406 / 2009 / ec of the european parliament and of the council of 23 april 2009 on the efforts of member states to reduce their greenhouse gas emissions to meet the community ' s greenhouse gas emission reduction commitments up to 202020 and directive 2003 / 87 / ec of the european parliament and of the council of 13 october 2003 establishing a scheme for greenhouse gas emission allowance trading within the community and amending council directive 96 / 61 / ec21 , though they count in part towards the union ' s quantified emission limitation and reduction target pursuant to article 3 of the kyoto protocol to the united nations framework convention on climate change , approved by council decision 2002 / 358 / ec22 .


### the 17th conference of the parties of the unfccc , meeting in durban in december 2011 , adopted decision - / cmp . 7 of the conference of the parties serving as the meeting of the parties to the kyoto protocol . that decision set out rules for accounting for the lulucf sector as of a second commitment period under the kyoto protocol . this decision should be in line with that decision to ensure an appropriate level of coherence between the union ' s internal rules and methodologies agreed within the unfccc . this decision should also reflect the particularities of the union lulucf sector . ### the 17th conference of the parties of the unfccc , meeting in durban in december 2011 , adopted decision - / cmp . 7 of the conference of the parties serving as the meeting of the parties to the kyoto protocol . that decision set out rules for accounting for the lulucf sector as of a second commitment period under the kyoto protocol . this decision should be fully in line with that decision to ensure coherence between the union ' s internal rules and methodologies agreed within the unfccc . this decision should also reflect the particularities of the union lulucf sector .


### the lulucf accounting rules should reflect efforts made in the agriculture and forestry sectors to enhance the contribution of changes made to the use of land resources to the reduction of emissions . this decision should provide for accounting rules applicable on a mandatory basis to the forestry activities of afforestation , reforestation , deforestation and forest management , and to the agricultural activities of grazing land management and cropland management . it should also provide for accounting rules applicable on a voluntary basis to revegetation and wetland drainage and rewetting activities . ### the accounts for the lulucf activities should reflect efforts made in the agriculture and forestry sectors to enhance the contribution of changes made to the use of land resources to the reduction of emissions . this decision should provide for accounts for the lulucf activities applicable on a mandatory basis to the forestry activities of afforestation , reforestation , deforestation and forest management . it should also provide for accounts applicable on a voluntary basis to the agricultural activities of grazing land management and cropland management , to revegetation , wetland drainage and rewetting activities .


### to ensure the environmental integrity of the accounting rules applicable to the union lulucf sector , these rules should be based on the accounting principles laid down in decision - / cmp . 7 , and decision 16 / cmp . 1 of the conference of the parties serving as the meeting of the parties to the kyoto protocol . ### to ensure the environmental integrity of the lulucf accounts applicable to the union lulucf sector , these rules should be based on the accounting principles laid down in decision 2 / cmp . 7 , and decision 16 / cmp . 1 of the conference of the parties serving as the meeting of the parties to the kyoto protocol .


### the accounting rules should accurately represent human - induced changes in emissions and removals . in that regard , this decision should provide for the use of specific methodologies in respect of different lulucf activities . emissions and removals related to afforestation , reforestation and deforestation are the direct result of human intervention and should therefore be accounted for in their entirety . however , given that not all emissions and removals from forest management are anthropogenic , the relevant accounting rules should provide for the use of reference levels to exclude the effects of natural and country - specific characteristics . reference levels constitute estimates of the annual net emissions or removals resulting from forest management within the territory of a member state for the years included in an accounting period , and should be set transparently in accordance with decision - / cmp . 7 . they should be updated to reflect improvements to methodologies or data available in the member states . the accounting rules should provide for an upper limit applicable to net greenhouse gas emissions and removals for forest management that may be entered into accounts , given underlying uncertainties in the projections on which the reference levels are based . ### the lulucf accounts should accurately represent human - induced changes in emissions and removals . in that regard , this decision should provide for the use of specific methodologies in respect of different lulucf activities . emissions and removals related to afforestation , reforestation and deforestation are the direct result of human intervention and should therefore be accounted for in their entirety . however , given that not all emissions and removals from forest management are anthropogenic , the relevant accounting rules should provide for the use of reference levels to exclude the effects of natural and country - specific characteristics . reference levels constitute estimates of the annual net emissions or removals resulting from forest management within the territory of a member state for the years included in an accounting period , and should be set transparently in accordance with decision - / cmp . 7 . they should be updated to reflect improvements to methodologies or data available in the member states . the accounting rules should provide for an upper limit applicable to net greenhouse gas emissions and removals for forest management that may be entered into accounts , given underlying uncertainties in the projections on which the reference levels are based .


### the accounting rules should ensure that member states accurately reflect in accounts the time emissions of greenhouse gasses from harvested wood take place , to provide incentives for the use of harvested wood products with long life cycles . the first - order decay function applicable to emissions resulting from harvested wood products should therefore correspond to equation 12 . 1 of the 2006 intergovernmental panel on climate change guidelines for national greenhouse gas inventories , and the relevant default half - life values should be based on table 3a . 1 . 3 of the 2003 ipcc good practice guidance for land use , land use change and forestry . ### the member states should be allowed to determine the accounting rules and half - life values . these should ensure that member states accurately reflect in accounts the time emissions of greenhouse gasses from harvested wood take place , to provide incentives for the use of harvested wood products with long life cycles . the first - order decay function applicable to emissions resulting from harvested wood products should therefore correspond to equation 12 . 1 of the 2006 intergovernmental panel on climate change guidelines for national greenhouse gas inventories , and the relevant default half - life values should be based on table 3a . 1 . 3 of the 2003 ipcc good practice guidance for land use , land use change and forestry .


### reporting rules on greenhouse gas emissions and other information relevant to climate change , including information on the lulucf sector , fall within the scope of regulation no … / … [ commission proposal for a regulation of the european parliament and of the council on a mechanism for monitoring and reporting union greenhouse gas emissions and for reporting other information at national and union level relevant to climate change ] , and are not therefore within the scope of this decision . ### reporting rules on greenhouse gas emissions and other information relevant to climate change , including information on the lulucf sector , fall within the scope of regulation no . . . / . . . [ commission proposal for a regulation of the european parliament and of the council on a mechanism for monitoring and reporting union greenhouse gas emissions and for reporting other information at national and union level relevant to climate change ] , and should be considered by member states when monitoring and reporting , although they do not fall within the scope of this decision .


### the power to adopt acts in accordance with article 290 of the treaty on the functioning of the european union should be delegated to the commission to update the definitions laid down in article 2 in the light of changes to definitions adopted by the bodies of the unfccc or the kyoto protocol or other multilateral agreement relevant to climate change concluded by the union , to amend annex i to add accounting periods and ensure consistency between those accounting periods and the relevant periods applicable to union emission reduction commitments in other sectors , to amend annex ii with updated reference levels in accordance with the proposed reference levels submitted by member states pursuant to article 6 subject to corrections made in accordance with this decision , to revise the information specified in annex iii in accordance with scientific progress and to revise the conditions relating to the accounting rules for natural disturbances laid down in article 9 in the light of scientific progress or to reflect revisions to acts adopted by the unfccc or kyoto protocol bodies . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level . the commission , when preparing and drawing - up delegated acts , should ensure a simultaneous , timely and appropriate transmission of relevant documents to the european parliament and council . ### the power to adopt acts in accordance with article 290 of the treaty on the functioning of the european union should be delegated to the commission to update the definitions laid down in article 2 in the light of changes to definitions adopted by the bodies of the unfccc or the kyoto protocol or other multilateral agreement relevant to climate change concluded by the union , to amend annex i to add accounting periods and ensure consistency between those accounting periods and the relevant periods applicable to union emission reduction commitments in other sectors , to amend annex ii with updated reference levels in accordance with the proposed reference levels submitted by member states pursuant to article 6 subject to corrections made in accordance with this decision and in the light of changes to reference levels adopted by the bodies of the unfccc or the kyoto protocol , to revise the information specified in annex iii in accordance with scientific progress and to revise the conditions relating to the accounting rules for natural disturbances laid down in article 9 in the light of scientific progress or to reflect revisions to acts adopted by the unfccc or kyoto protocol bodies . it is of particular importance that the commission carry out appropriate consultations during its preparatory work , including at expert level . the commission , when preparing and drawing - up delegated acts , should ensure a simultaneous , timely and appropriate transmission of relevant documents to the european parliament and council .


### ‘ natural disturbance’ is any non - anthropogenic event or circumstance that causes significant emissions in forests or agricultural soils and the occurrence of which is beyond the control of the relevant member state provided the member state is also objectively unable to significantly limit the effect of the event or circumstance , even after its occurrence , on emissions ; ### ' natural disturbances ' are non - anthropogenic events or non - anthropogenic circumstances . for the purposes of this decision , these events or circumstances are those that cause significant emissions in forests and are beyond the control of , and not materially influenced by , a member state . these may include wildfires , insect and disease infestations , extreme weather events and / or geographical disturbances , beyond the control of , and not materially influenced by , a member state . these exclude harvesting and prescribed burning ;


### ‘ half - life value’ is the number of years it takes for the carbon content of a wood product to decrease to one half of its initial quantity ; ### ' half - life value ' is the number of years it takes for the quantity of carbon stored in a wood product to decrease to one half of its initial value ;


### member states may also draw up and maintain accounts that accurately reflect emissions and removals resulting from revegetation , and wetland drainage and rewetting . ### member states may also draw up and maintain , on a voluntary basis , accounts that accurately reflect emissions and removals resulting from cropland management , grazing land management , revegetation , and wetland drainage and rewetting .


### general accounting rules ### accounts of lulucf activities


### member states shall reflect in their accounts pursuant to article 3 emissions from harvested wood products containing carbon on 1 january 2013 even where such harvested wood products were harvested prior to this date . ### member states shall reflect in their accounts pursuant to article 3 emissions from harvested wood products containing carbon on 1 january 2014 even where such harvested wood products were harvested prior to this date .


### member states shall reflect in their accounts pursuant to article 3 emissions from harvested wood products containing carbon on 1 january 2013 even where such harvested wood products were harvested prior to this date . ### harvested wood products as such shall not be considered as emissions of greenhouse gas . member states shall reflect in their accounts pursuant to article 3 emissions from harvested wood products containing carbon on 1 january 2013 even where such harvested wood products were harvested prior to this date .


### member states may use country - specific half - life values instead of the half - life values specified in annex iii provided that those values are determined by the member state on the basis of transparent and verifiable data . ### member states may use country - specific half - life values and methods instead of the half - life values specified in annex iii provided that those values are determined by the member state on the basis of transparent and verifiable data .


### in accounts relating to exported harvested wood products , member states may use country - specific half - life values instead of the half - life values specified in annex iii , provided that those values are determined by the member state on the basis of transparent and verifiable data on the use of those harvested wood products in the importing country . ### in accounts relating to exported harvested wood products , member states may use country - specific half - life values instead of the half - life values specified in annex iii , provided that those values are determined by the member state on the basis of transparent and verifiable data on the use of those harvested wood products in the importing country and that they are at least as detailed or accurate as those annex iii .


### no later than six months after the beginning of each accounting period specified in annex i , member states shall draw up and transmit to the commission draft lulucf action plans to limit or reduce emissions and maintain or increase removals resulting from the activities referred to in article 3 . member states shall ensure that a broad range of stakeholders are consulted . ### no later than six months after the beginning of each accounting period specified in annex i , member states shall draw up and transmit to the commission draft lulucf action plans to limit or reduce emissions and maintain or increase removals resulting from the activities referred to in article 3 . member states shall ensure that interested stakeholders are consulted . lulucf action plans are meant to be understood as an integral part of the national low carbon development strategies .


### no later than six months after the beginning of each accounting period specified in annex i , member states shall draw up and transmit to the commission draft lulucf action plans to limit or reduce emissions and maintain or increase removals resulting from the activities referred to in article 3 . member states shall ensure that a broad range of stakeholders are consulted . ### no later than eighteen months after the beginning of each accounting period specified in annex i , member states shall draw up and transmit to the commission lulucf action plans to limit or reduce emissions and maintain or increase removals resulting from the activities referred to in the first subparagraph of article 3 and where systems are in place and data available from activities referred to in subparagraph 2 of article 3 . member states shall consult with stakeholders in drawing up action plans .


### member states shall take due account of the commission’s findings and shall publish in electronic form and make available to the public their lulucf action plans within three months of receiving the commission’s evaluation . ### member states shall note the commission’s findings and shall publish in electronic form and make available to the public their lulucf action plans within three months of receiving the commission’s evaluation .