### the need for the regulatory framework for electronic communications to be consistently applied in all member states is essential for the successful development of an internal market for electronic communications throughout the union and the promotion of access to , and take - up of , very high capacity data connectivity , of competition in the provision of electronic communications networks , services and associated facilities and of the interests of the citizens of the union . in view of market and technological developments , which often entails an increased cross - border dimension , and to the experience so far in ensuring a consistent implementation in the electronic communications field , it is necessary to build on the work of berec and the berec office and further develop them into a fully - fledged agency . ### the need for the regulatory framework for electronic communications to be consistently applied in all member states is essential for the successful development of an internal market for electronic communications throughout the union and the promotion of access to , and take - up of , very high capacity data connectivity , of competition in the provision of electronic communications networks , services and associated facilities and of the interests of the citizens of the union . in view of market and technological developments , which often entails an increased cross - border dimension , and to the experience so far in ensuring a consistent implementation in the electronic communications field , it is necessary to build on the work of berec and the berec office .


### the agency should be governed and operated in line with the principles of the joint statement of the european parliament , the council and the european commission of 19 july 2012 on decentralised agencies 28 . due to the established image of berec and the costs that a modification of its name would entail , the new agency should retain the name of berec . __________________ 28 joint statement of the parliament , council and the commission on decentralised agencies of 19 july 2012 . ### the berec office should be governed and operated in line with the principles of the joint statement of the european parliament , the council and the european commission of 19 july 2012 on decentralised agencies 28 . __________________ 28 joint statement of the parliament , council and the commission on decentralised agencies of 19 july 2012 .


### berec should be allowed if necessary to cooperate with , and without prejudice to the role of , other union bodies , agencies , offices and advisory groups , in particular the radio spectrum policy group29 , the european data protection board30 , the european regulators group for audiovisual media services31 and the european union agency for network and information security32 ; as well as with existing committees . it should also be allowed to cooperate with competent authorities of third countries , in particular , regulatory authorities competent in the field of electronic communications and / or groups of those authorities , as well as with international organisations when necessary for the performance of its tasks . __________________ 29 decision 2002 / 622 / ec establishing a radio spectrum policy group . 30 established under regulation 2016 / 679 of the european parliament and of the council of 27 april 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data , and repealing directive 95 / 46 / ec . 31 directive [ . . . ] . 32 regulation no 526 / 2013 of the european parliament and of the council of 21 may 2013 concerning the european union agency for network and information security and repealing regulation no 460 / 2004 . ### berec and the berec office should be allowed if necessary to cooperate with , and without prejudice to the role of , other union bodies , agencies , offices and advisory groups , in particular the radio spectrum policy group29 , the european data protection board30 , the european regulators group for audiovisual media services31 and the european union agency for network and information security32 ; as well as with existing committees . it should also be allowed to cooperate with competent authorities of third countries , in particular , regulatory authorities competent in the field of electronic communications and / or groups of those authorities , as well as with international organisations when necessary for the performance of its tasks . __________________ 29 decision 2002 / 622 / ec establishing a radio spectrum policy group . 30 established under regulation 2016 / 679 of the european parliament and of the council of 27 april 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data , and repealing directive 95 / 46 / ec . 31 directive [ . . . ] . 32 regulation no 526 / 2013 of the european parliament and of the council of 21 may 2013 concerning the european union agency for network and information security and repealing regulation no 460 / 2004 .


### in the past the appointing authority powers were exercised by the vice - chair of the management committee of the berec office . the management board of the new agency should delegate relevant appointing authority powers to the executive director , who would be authorised to sub - delegate those powers . this would contribute to an efficient management of the berec staff as well as to ensuring that the management committee , as well as the chairperson and deputy chairperson , can concentrate on their functions . ### in the past the appointing authority powers were exercised by the vice - chair of the management committee of the berec office . the management board of the new agency should delegate relevant appointing authority powers to the director , who would be authorised to sub - delegate those powers . this would contribute to an efficient management of the berec staff as well as to ensuring that the management board , as well as the chairperson and deputy chairperson , can concentrate on their functions .


### in the past the term of office of the chair and of the vice - chairs of the board of regulators was one year . in view of the additional tasks assigned to berec and the need to ensure annual and multiannual programming for its activities , it is crucial to ensure that the chairperson and deputy chairperson benefit from a stable and long - term mandate . ### in view of the additional tasks assigned to berec and the need to ensure annual and multiannual programming for its activities , it is crucial to ensure that the chairperson and deputy chairperson benefit from a stable and long - term mandate .


### the management board should hold at least two ordinary meetings a year . in view of past experience and the enhanced role of berec , the management board may need to hold additional meetings . ### the board of regulators should hold at least four ordinary meetings a year . in view of past experience and the enhanced role of berec , the board of regulators may need to hold additional meetings .


### the role of the executive director , who would be the legal representative of berec , is crucial for the adequate functioning of the new agency and the implementation of the tasks assigned to it . the management board should appoint him / her on the basis of a list drawn up by the commission following an open and transparent selection procedure in order to guarantee a rigourous evaluation of the candidates and a high level of independence . moreover , in the past the term of office of the administrative manager of the berec office was three years . it is necessary that the executive director has a sufficiently long mandate in order to ensure stability and delivery of a long - term strategy for the agency . ### the role of the director , who would be the legal representative of the berec office , is crucial for the adequate functioning of the new agency and the implementation of the tasks assigned to it . the management board should appoint him / her following an open and transparent selection procedure in order to guarantee a rigourous evaluation of the candidates and a high level of independence . moreover , in the past the term of office of the administrative manager of the berec office was three years . it is necessary that the director has a sufficiently long mandate in order to ensure stability and delivery of a long - term strategy for the agency .


### the role of the executive director , who would be the legal representative of berec , is crucial for the adequate functioning of the new agency and the implementation of the tasks assigned to it . the management board should appoint him / her on the basis of a list drawn up by the commission following an open and transparent selection procedure in order to guarantee a rigourous evaluation of the candidates and a high level of independence . moreover , in the past the term of office of the administrative manager of the berec office was three years . it is necessary that the executive director has a sufficiently long mandate in order to ensure stability and delivery of a long - term strategy for the agency . ### the role of the executive director , who would be the legal representative of berec , is crucial for the adequate functioning of berec and the implementation of the tasks assigned to it . the management board should appoint him / her on the basis of a list drawn up by the commission following an open and transparent selection procedure in order to guarantee a rigorous evaluation of the candidates and a high level of independence . moreover , in the past the term of office of the administrative manager of the berec office was three years . it is necessary that the executive director has a sufficiently long mandate in order to ensure stability and delivery of a long - term strategy for berec .


### experience has shown that most of berec’s tasks are better carried out through working groups , therefore the management board should be in charge of setting up working groups and appointing their members . in order to ensure a balanced approach , the working groups should be coordinated and moderated by members of the berec staff . lists of qualified experts should be prepared in advance to ensure a quick set - up of certain working groups , in particular those related to internal market procedures for draft national measures on market regulation and on assignments of rights of use for radio spectrum , due to the time limits of those procedures . ### experience has shown that most of berec’s tasks are better carried out through working groups , therefore the board of regulators should be in charge of setting up working groups and appointing their members . lists of qualified experts should be prepared in advance to ensure a quick set - up of certain working groups , in particular those related to internal market procedures for draft national measures on market regulation and on assignments of rights of use for radio spectrum , due to the time limits of those procedures .


### commission delegated regulation no 1271 / 2013 of the european parliament and of the council34 should apply to berec . __________________ 34 commission delegated regulation no 1271 / 2013 of 30 september 2013 on the framework financial regulation for the bodies referred to in article 208 of regulation no 966 / 2012 of the european parliament and of the council . ### commission delegated regulation no 1271 / 2013 of the european parliament and of the council34 should apply to the berec office . __________________ 34 commission delegated regulation no 1271 / 2013 of 30 september 2013 on the framework financial regulation for the bodies referred to in article 208 of regulation no 966 / 2012 of the european parliament and of the council .


### in order to guarantee berec’s autonomy , it should have its own budget , most of which comes essentially from a contribution from the union . the financing of berec should be subject to an agreement by the budgetary authority as set out in point 31 of the inter - institutional agreement on budgetary discipline , on cooperation in budgetary matters and on sound financial management35 . __________________ 35 inter - institutional agreement of 2 december 2013 between the european parliament , the council and the commission on budgetary discipline , on cooperation in budgetary matters and on sound financial management . ### in order to guarantee the berec office’s autonomy , it should have its own budget , most of which comes essentially from a contribution from the union . the financing of berec should be subject to an agreement by the budgetary authority as set out in point 31 of the inter - institutional agreement on budgetary discipline , on cooperation in budgetary matters and on sound financial management35 . __________________ 35 inter - institutional agreement of 2 december 2013 between the european parliament , the council and the commission on budgetary discipline , on cooperation in budgetary matters and on sound financial management .


### berec should be independent as regards operational and technical matters and should enjoy legal , administrative and financial autonomy . to that end , it is necessary and appropriate that berec should be a body of the union having legal personality and exercising the powers conferred upon it . ### the berec office should be independent as regards operational and technical matters and should enjoy legal , administrative and financial autonomy .


### in order to further extend the consistent implementation of the provisions of the regulatory framework for electronic communications within the scope of berec , the new agency should be open to the participation of regulatory authorities of third countries competent in the field of electronic communications that have entered into agreements with the union to that effect , in particular those of eea efta states and candidate countries . ### in order to further extend the consistent implementation of the provisions of the regulatory framework for electronic communications within the scope of berec and the berec office should be open to the participation of regulatory authorities of third countries competent in the field of electronic communications that have entered into agreements with the union to that effect , in particular those of efta states and candidate countries .


### berec should be allowed to engage in communication activities within its field of competence , which should not be detrimental to berec’s core tasks and should be carried out in accordance with relevant communication and dissemination plans adopted by the management board . the content and implementation of berec’s communication strategy should be coherent , relevant and coordinated with the strategies and activities of the commission and the other institutions in order to take into consideration the broader image of the union . ### berec and the berec office should be allowed to engage in communication activities within their field of competence , which should not be detrimental to berec’s and the berec office’s core tasks and should be carried out in accordance with relevant communication and dissemination plans adopted by the management board . the content and implementation of berec’s and the berec office’s communication strategy should be coherent , relevant and coordinated with the strategies and activities of the commission and the other institutions in order to take into consideration the broader image of the union .


### berec should be allowed to engage in communication activities within its field of competence , which should not be detrimental to berec’s core tasks and should be carried out in accordance with relevant communication and dissemination plans adopted by the management board . the content and implementation of berec’s communication strategy should be coherent , relevant and coordinated with the strategies and activities of the commission and the other institutions in order to take into consideration the broader image of the union . ### berec should be allowed to engage in communication activities within its field of competence , which should not be detrimental to berec’s core tasks and should be carried out in accordance with relevant communication and dissemination plans adopted by the management board . the content and implementation of berec’s communication strategy should be coherent and relevant with the strategies and activities of the commission and the other institutions in order to take into consideration the broader image of the union .


### in order to carry out its tasks effectively , berec should have the right to request all necessary information from the commission , the nras and , as a last resort , other authorities and undertakings . requests for information should be proportionate and not impose an undue burden on the addressees . nras , which are closest to the electronic communications markets , should cooperate with berec and have a timely and accurate provision of information to ensure that berec is able to fulfil its mandate . berec should also share with the commission and the nras the necessary information based on the principle of sincere cooperation . ### in order to carry out its tasks effectively , berec and berec the office should have the right to request all necessary information from the commission , the nras and , as a last resort , other authorities and undertakings . requests for information should be proportionate and not impose an undue burden on the addressees . nras , which are closest to the electronic communications markets , should cooperate with berec and berec the office and have a timely and accurate provision of information to ensure that berec and berec the office is able to fulfil its mandate . berec and berec office should also share with the commission and the nras the necessary information based on the principle of sincere cooperation .


### the berec office , which was established as a community body with legal personality by regulation no 1211 / 2009 , is succeeded by berec as regards all ownership , agreements , legal obligations , employment contracts , financial commitments and liabilities . berec should take over the staff of the berec office whose rights and obligations should not be affected , ### the office , which was established as a community body with legal personality by regulation no 1211 / 2009 , is succeeded by the berec office as regards all ownership , agreements , legal obligations , employment contracts , financial commitments and liabilities . the berec office should take over the staff of the office whose rights and obligations should not be affected ,


### establishment and objectives ### establishment and objectives of berec


### berec shall pursue the same objectives as those of national regulatory authorities referred to in article 3 of the directive . in particular , berec shall ensure a consistent implementation of the regulatory framework for electronic communications within the scope referred to in paragraph 2 and thereby contribute to the development of the internal market . it shall also promote access to , and take - up of , very high capacity data connectivity ; competition in the provision of electronic communications networks , services and associated facilities ; and the interests of the citizens of the union . ### berec shall pursue the same objectives as those of national regulatory authorities referred to in article 3 of the directive . in particular , berec shall contribute to the development and better functioning of the internal market for electronic communications networks and services by ensuring a consistent implementation of the union regulatory framework for electronic communications within the scope referred to in paragraph 2 . it shall also promote access to , and take - up of , very high capacity data connectivity ; competition in the provision of electronic communications networks , services and associated facilities ; and the interests of the citizens of the union .


### issue decisions : ### issue decisions in accordance with the relevant provisions of the directive ;


### without prejudice to compliance with relevant union law , nras shall comply with any decision and take the utmost account of any opinion , guideline , recommendation and best practice adopted by berec with the aim of ensuring a consistent implementation of the regulatory framework for electronic communications within the scope referred to in article 1 . ### without prejudice to compliance with relevant union law , nras shall take account of any decision and take the utmost account of any opinion , guideline , recommendation and best practice adopted by berec with the aim of ensuring a consistent implementation of the regulatory framework for electronic communications within the scope referred to in article 1 .


### administrative and management structure ### organisation of berec


### the administrative and management structure of berec shall comprise : ### the organisational structure of berec shall comprise :


### - a management board , which shall exercise the functions set out in article 5 ; ### - a board of regulators ;


### management board ### board of regulators


### composition of the management board ### composition of the board of regulators


### the management board shall be composed of one representative from each member state and two representatives of the commission , all with voting rights . each nra shall be responsible for nominating its respective representative amongst the head or members of the collegiate body of the nra . ### the board of regulators shall be composed of one member per member state . those members shall be the head or other high - level representative of the nra established in each member state with primary responsibility for overseeing the day - to - day operation of the markets for electronic communications networks and services .


### each member of the management board shall have an alternate . the alternate shall represent the member in his / her absence . each nra shall be responsible for nominating the alternate amongst the heads , members of the collegiate body and staff of the nra . ### nras shall nominate one high - level alternate member per member state . the alternate shall represent the member in his / her absence .


### members of the management board and their alternates shall be appointed in light of their knowledge in the field of electronic communications , taking into account relevant managerial , administrative and budgetary skills . all parties represented in the management board shall make efforts to limit turnover of their representatives , in order to ensure continuity of the board’s work . all parties shall aim to achieve a balanced representation between men and women on the management board . ### members of the board of regulators and their alternates shall be appointed in light of their knowledge in the field of electronic communications , taking into account relevant managerial , administrative and budgetary skills . all parties represented in the board of regulators shall make efforts to limit turnover of their representatives , in order to ensure continuity of the board’s work . all parties shall aim to achieve a balanced representation between men and women on the board of regulators .


### functions of the management board ### tasks of the board of regulators


### the management board shall : ### the board of regulators shall :


### adopt its rules of procedure ; ### adopt and make public its rules of procedure . the rules of procedure shall set out in detail the arrangements governing voting , including the conditions under which one member may act on behalf of another member , the rules governing quorums , and the notification deadlines for meetings . furthermore , the rules of procedure shall guarantee that the members of the board of regulators are always provided with full agendas and draft proposals in advance of each meeting so that they have the opportunity to propose amendments prior to the vote . the rules of procedure may , inter alia , set out urgent voting procedures ;


### chairperson and deputy chairperson of the management board ### chairperson and deputy chairperson of the board of regulators


### the management board shall elect a chairperson and a deputy chairperson from among members with voting rights representing member states . the chairperson and the deputy chairperson shall be elected by a majority of two thirds of the members of the management board with voting rights . ### the board of regulators shall elect a chairperson and a deputy chairperson from among members with voting rights representing member states .


### the term of office of the chairperson and the deputy chairperson shall be four years , with the exception of the first term of office of the deputy chairperson elected after the entry into force of this regulation which shall be two years . their term of office may be renewed once . ### the term of office of the chairperson shall be two years and of the deputy chairperson shall be one year . for ensuring continuity of berec’s work , the chairperson has firstly to serve one year as a deputy chairperson before serving his or her term as chairperson for two years , and where possible to serve as a deputy chairperson for the year following his or her term as chairperson . their term of office may be renewed once .


### meetings of the management board ### plenary meetings and voting rules of the board of regulators


### the chairperson shall convene the meetings of the management board . ### plenary meetings of the board of regulators shall be convened by its chairperson and shall occur at least four times a year in ordinary session . extraordinary meetings shall also be convened at the initiative of the chairperson , at the request of the commission or at the request of at least one third of the board ' s members . the agenda of the meeting shall be set by the chairperson and shall be made public .


### the executive director of berec shall take part in the deliberations , without the right to vote . ### the director of berec office shall participate , without having the right to vote , in the plenary meetings of the board of regulators .


### the management board may invite any person whose opinion may be of interest to attend its meetings as an observer . ### the board of regulators may invite any person whose opinion may be of interest to attend its meetings as an observer .


### berec shall provide the secretariat for the management board . ### the berec office shall provide the secretariat for the board of regulators .


### where justified and in particular to implement the work programme of berec , the management board , may set up the necessary working groups . ### where justified and in particular to implement the annual work programme of berec and to develop the initial drafts of berec documents , the board of regulators , may set up the necessary working groups .


### the management board shall appoint the members of the working groups , which may be participated in by experts from the nras , the commission , berec staff and the nras of third countries participating in the work of berec . ### the board of regulators shall appoint the members of the working groups , which may be participated in by experts from the nras , the commission , berec office and the nras of third countries participating in the work of berec .


### the management board may invite individual experts recognised as competent in the relevant field to participate in the working groups if necessary on a case - by - case basis . ### the board of regulators may invite individual experts recognised as competent in the relevant field to participate in the working groups if necessary on a case - by - case basis .


### the management board shall adopt internal rules of procedure laying down the practical arrangements for the operation of the working groups . ### the board of regulators shall adopt internal rules of procedure laying down the practical arrangements for the operation of the working groups .


### berec shall provide support to the working groups . ### the berec office shall provide support to the working groups . a member of staff of the berec office shall assist the chair or deputy chair and shall provide other professional and administrative support services to the working groups .


### each year , the executive director shall draw up a draft programming document containing annual and multiannual programming in line with article 32 of commission delegated regulation no 1271 / 2013 and taking into account guidelines set by the commission38 . __________________ 38 commission communication on the guidelines for programming document for decentralised agencies and the template for the consolidated annual activity report for decentralised agencies 9641 ) . ### each year , the director shall draw up a draft programming document containing annual and multiannual programming in line with article 32 of commission delegated regulation no 1271 / 2013 and taking into account guidelines set by the commission38 . __________________ 38 commission communication on the guidelines for programming document for decentralised agencies and the template for the consolidated annual activity report for decentralised agencies 9641 ) .


### by 31 january , the management board shall adopt the draft single programming document and forward it to the commission for it to provide its opinion . the draft single programming document shall also be forwarded to the european parliament and the council . ### by 31 january , the board of regulators shall adopt the draft single programming document and forward it to the commission for it to provide its opinion . the draft single programming document shall also be forwarded to the european parliament and the council .


### the management board shall subsequently adopt the single programming document taking into account the opinion of the commission . it shall forward it to the european parliament , the council and the commission , as well as any later updated version of that document . ### the board of regulators shall subsequently adopt the single programming document taking into account the opinion of the commission . it shall forward it to the european parliament , the council and the commission , as well as any later updated version of that document .


### the management board shall amend the adopted annual work programme when a new task is given to berec . ### the board of regulators shall amend the adopted annual work programme when a new task is given to berec .


### any substantial amendment to the annual work programme shall be adopted by the same procedure as the initial annual work programme . the management board may delegate the power to make non - substantial amendments to the annual work programme to the executive director . ### any substantial amendment to the annual work programme shall be adopted by the same procedure as the initial annual work programme . the board of regulators may delegate the power to make non - substantial amendments to the annual work programme to the director .


### each year , the executive director shall draw up a provisional draft estimate of berec ' s revenue and expenditure for the following financial year , including the establishment plan , and send it to the management board . ### each year , the director shall draw up a provisional draft estimate of the berec office ' s revenue and expenditure for the following financial year , including the establishment plan , and send it to the management board .


### the management board shall , on the basis of that provisional draft , adopt a draft estimate of berec’s revenue and expenditure for the following financial year . ### the management board shall , on the basis of that provisional draft , adopt a draft estimate of the berec office’s revenue and expenditure for the following financial year .


### the draft estimate of berec’s revenue and expenditure shall be sent by the executive director to the commission by 31 january each year . the information contained in the draft estimate of berec’s revenue and expenditure and in the draft single programming document referred to in article 15 shall be coherent . ### the draft estimate of the berec office ' s revenue and expenditure shall be sent by the director to the commission by 31 january each year . the information contained in the draft estimate of the berec office ' s revenue and expenditure and in the draft single programming document referred to in article 15 shall be coherent .


### the budgetary authority shall authorise the appropriations for the contribution to berec . ### the budgetary authority shall authorise the appropriations for the contribution to the berec office .


### the budgetary authority shall adopt berec’s establishment plan . ### the budgetary authority shall adopt the berec office’s establishment plan .


### berec’s budget shall be adopted by the management board . it shall become final following final adoption of the general budget of the union . where necessary , it shall be adjusted accordingly . ### the berec office ' s budget shall be adopted by the management board . it shall become final following final adoption of the general budget of the union . where necessary , it shall be adjusted accordingly .


### for any building project likely to have significant implications for the budget of berec , the provisions of commission delegated regulation no 1271 / 2013 shall apply . ### for any building project likely to have significant implications for the budget of the berec office , the provisions of commission delegated regulation no 1271 / 2013 shall apply .


### estimates of all revenue and expenditure for berec shall be prepared each financial year , corresponding to the calendar year and shall be shown in berec ' s budget . ### estimates of all revenue and expenditure for the berec office shall be prepared each financial year , corresponding to the calendar year and shall be shown in the berec office ' s budget .


### berec’s budget shall be balanced in terms of revenue and of expenditure . ### the berec office’s budget shall be balanced in terms of revenue and of expenditure .


### without prejudice to other resources , berec’s revenue shall comprise : ### without prejudice to other resources , the berec office’s revenue shall comprise :


### any contribution from third countries or the regulatory authorities competent in the field of electronic communications of third countries participating in the work of berec , as provided for by article 26 . ### any contribution from third countries or the regulatory authorities competent in the field of electronic communications of third countries participating in the work of the berec office , as provided for by article 26 .


### the expenditure of berec shall include staff remuneration , administrative and infrastructure expenses and operational expenditure . ### the expenditure of the berec office shall include staff remuneration , administrative and infrastructure expenses and operational expenditure .


### by 1 march of the following financial year , berec ' s accounting officer shall send the provisional accounts to the commission ' s accounting officer and to the court of auditors . ### by 1 march of the following financial year , the berec office ' s accounting officer shall send the provisional accounts to the commission ' s accounting officer and to the court of auditors .


### by 31 march of the following financial year , berec shall send the report on the budgetary and financial management to the european parliament , the council and the court of auditors . ### by 31 march of the following financial year , the berec office shall send the report on the budgetary and financial management to the european parliament , the council and the court of auditors .


### on receipt of the court of auditors’ observations on berec’s provisional accounts , berec’s accounting officer shall draw up berec’s final accounts under his / her own responsibility . the executive director shall submit the final accounts to the management board for an opinion . ### on receipt of the court of auditors’ observations on the berec office’s provisional accounts , the berec office’s accounting officer shall draw up the berec office’s final accounts under his / her own responsibility . the director shall submit the final accounts to the management board for an opinion .


### the management board shall deliver an opinion on berec’s final accounts . ### the management board shall deliver an opinion on the berec office’s final accounts .


### the executive director shall , by 1 july following each financial year , send the final accounts to the european parliament , the council , the commission and the court of auditors , together with the management board’s opinion . ### the director shall , by 1 july following each financial year , send the final accounts to the european parliament , the council , the commission and the court of auditors , together with the management board’s opinion .


### berec shall publish the final accounts in the official journal of the european union by 15 november of the following year . ### the berec office shall publish the final accounts in the official journal of the european union by 15 november of the following year .


### the executive director shall send the court of auditors a reply to its observations by 30 september . the executive director shall also send this reply to the management board . ### the director shall send the court of auditors a reply to its observations by 30 september . the director shall also send this reply to the management board .


### the executive director shall submit to the european parliament , at the latter’s request , any information required for the smooth application of the discharge procedure for the financial year in question , in accordance with article 165 of financial regulation39 . __________________ 39 regulation no 966 / 2012 of the european parliament and of the council of 25 october 2012 on the financial rules applicable to the general budget of the union and repealing council regulation no 1605 / 2002 . ### the director shall submit to the european parliament , at the latter’s request , any information required for the smooth application of the discharge procedure for the financial year in question , in accordance with article 165 of financial regulation39 . __________________ 39 regulation no 966 / 2012 of the european parliament and of the council of 25 october 2012 on the financial rules applicable to the general budget of the union and repealing council regulation no 1605 / 2002 .


### on a recommendation from the council acting by a qualified majority , the european parliament shall , before 15 may of year n + 2 , give a discharge to the executive director in respect of the implementation of the budget for year n . ### on a recommendation from the council acting by a qualified majority , the european parliament shall , before 15 may of year n + 2 , give a discharge to the director in respect of the implementation of the budget for year n .


### the financial rules applicable to berec shall be adopted by the management board after consulting the commission . they shall not depart from regulation no 1271 / 2013 unless such a departure is specifically required for berec’s operation and the commission has given its prior consent . ### the financial rules applicable to the berec office shall be adopted by the management board after consulting the commission . they shall not depart from regulation no 1271 / 2013 unless such a departure is specifically required for berec office’s operation and the commission has given its prior consent .


### the staff regulations and the conditions of employment of other servants and the rules adopted by agreement between the institutions of the union for giving effect to those staff regulations and the conditions of employment of other servants shall apply to the staff of berec . ### the staff regulations and the conditions of employment of other servants and the rules adopted by agreement between the institutions of the union for giving effect to those staff regulations and the conditions of employment of other servants shall apply to the staff of the berec office .


### appointment of executive director ### appointment of director


### the executive director shall be engaged as a temporary agent of berec in accordance with article 2 of the conditions of employment of other servants . ### the director shall be engaged as a temporary agent of the berec office in accordance with article 2 of the conditions of employment of other servants .


### berec may make use of seconded national experts or other staff not employed by berec . the staff regulations and the conditions of employment of other servants shall not apply to such staff . ### the berec office may make use of seconded national experts or other staff not employed by the berec office . the staff regulations and the conditions of employment of other servants shall not apply to such staff .


### the management board shall adopt a decision laying down rules on the secondment of national experts to berec . ### the management board shall adopt a decision laying down rules on the secondment of national experts to the berec office .


### the protocol on the privileges and immunities of the european union shall apply to berec and its staff . ### the protocol on the privileges and immunities of the european union shall apply to the berec office and its staff .


### as part of the single programming document , the management board shall adopt a strategy for relations with competent union bodies , agencies , offices and advisory groups , with competent authorities of third countries and / or with international organisations concerning matters for which berec is competent . the commission and the agency shall conclude an appropriate working arrangement aiming at ensuring that berec operates within its mandate and the existing institutional framework . ### as part of the single programming document , the board of regulators shall adopt a strategy for relations with competent union bodies , agencies , offices and advisory groups , with competent authorities of third countries and / or with international organisations concerning matters for which berec is competent . the commission and the berec shall conclude an appropriate working arrangement aiming at ensuring that berec operates within its mandate and the existing institutional framework .


### transparency and communication ### access to documents , transparency and communication


### regulation no 1049 / 2001 of the european parliament and of the council40 shall apply to documents held by berec . the management board shall , within six months of the date of its first meeting , adopt the detailed rules for applying regulation no 1049 / 2001 . __________________ 40 regulation no 1049 / 2001 of the european parliament and of the council of 30 may 2001 regarding public access to european parliament , council and commission documents . ### regulation no 1049 / 2001 of the european parliament and of the council40 shall apply to documents held by berec and the berec office . the board of regulators and the management board shall , by . . . [ please insert the date : . . . months after the date of the application of this regulation ] , adopt the detailed rules for applying regulation no 1049 / 2001 . __________________ 40 regulation no 1049 / 2001 of the european parliament and of the council of 30 may 2001 regarding public access to european parliament , council and commission documents .


### the processing of personal data by berec shall be subject to regulation no 45 / 2001 of the european parliament and of the council41 . the management board shall , within six months of the date of its first meeting , establish measures for the application of regulation no 45 / 2001 by berec , including those concerning the appointment of a data protection officer of berec . those measures shall be established after consultation of the european data protection supervisor . __________________ 41 regulation no 45 / 2001 of the european parliament and of the council of 18 december 2000 on the protection of individuals with regard to the processing of personal data by the institutions and bodies of the community and on the free movement of such data . ### the processing of personal data by berec and the berec office shall be subject to regulation no 45 / 2001 of the european parliament and of the council41 . __________________ 41 regulation no 45 / 2001 of the european parliament and of the council of 18 december 2000 on the protection of individuals with regard to the processing of personal data by the institutions and bodies of the community and on the free movement of such data .


### berec may engage in communication activities on its own initiative within its field of competence . the allocation of resources to communication activities shall not be detrimental to the effective exercise of the tasks referred to in article 2 and 2 of this regulation . communication activities shall be carried out in accordance with relevant communication and dissemination plans adopted by the management board . ### berec and the berec office may engage in communication activities on its own initiative within its field of competence . the allocation of resources to communication activities shall not be detrimental to the effective exercise of the tasks referred to in article 2 and 2 of this regulation . communication activities shall be carried out in accordance with relevant communication and dissemination plans adopted by the management board .


### without prejudice to article 27 , berec shall not disclose to third parties information that it processes or receives in relation to which a reasoned request for confidential treatment , in whole or in part , has been made . ### without prejudice to article 27 , the berec office shall not disclose to third parties information that it processes or receives in relation to which a reasoned request for confidential treatment , in whole or in part , has been made .


### members of the management board , the executive director , members of the board of appeal , seconded national experts , other staff not employed by berec and experts participating in working groups shall comply with the confidentiality requirements under article 339 of the treaty , even after their duties have ceased . ### members of the management board , the director , seconded national experts , other staff not employed by the berec office and experts participating in working groups shall comply with the confidentiality requirements under article 339 of the treaty , even after their duties have ceased .


### berec shall adopt its own security rules equivalent to the commission’s security rules for protecting european union classified information and sensitive non - classified information , inter alia provisions for the exchange , processing and storage of such information as set out in commission decisions 2015 / 44342 and 2015 / 44443 . alternatively , berec may adopt a decision to apply the commission’s rules on a mutatis mutandis basis . __________________ 42 commission decision 2015 / 443 of 13 march 2015 on security in the commission . 43 commission decision 2015 / 444 of 13 march 2015 on the security rules for protecting eu classified information . ### the berec office shall adopt its own security rules equivalent to the commission’s security rules for protecting european union classified information and sensitive non - classified information , inter alia provisions for the exchange , processing and storage of such information as set out in commission decisions 2015 / 44342 and 2015 / 44443 . alternatively , the berec office may adopt a decision to apply the commission’s rules on a mutatis mutandis basis . __________________ 42 commission decision 2015 / 443 of 13 march 2015 on security in the commission . 43 commission decision 2015 / 444 of 13 march 2015 on the security rules for protecting eu classified information .


### upon a duly justified request from berec , the commission and the nras shall provide berec with all the necessary information , in a timely and accurate manner , to carry out its tasks , provided that they have legal access to the relevant information and that the request for information is necessary in relation to the nature of the task in question . ### upon a duly justified request from berec or the berec office , the commission and the nras shall provide berec or the berec office with all the necessary information , in a timely and accurate manner , to carry out its tasks , provided that they have legal access to the relevant information and that the request for information is necessary in relation to the nature of the task in question .


### berec may also request the nras information to be provided at recurring intervals and in specified formats . such requests shall , where possible , be made using common reporting formats . ### berec or the berec office may also request the nras information to be provided at recurring intervals and in specified formats . such requests shall , where possible , be made using common reporting formats .


### upon a duly justified request from the commission or an nra , berec shall provide in a timely and accurate manner any information that is necessary to enable the commission or the nra to carry out its tasks , based on the principle of sincere cooperation . ### upon a duly justified request from the commission or an nra , berec or the berec office shall provide in a timely and accurate manner any information that is necessary to enable the commission or the nra to carry out its tasks , based on the principle of sincere cooperation .


### before requesting information in accordance with this article and in order to avoid the duplication of reporting obligations , berec shall take account of any relevant existing information publicly available . ### before requesting information in accordance with this article and in order to avoid the duplication of reporting obligations , berec or the berec office shall take account of any relevant existing information publicly available .


### where information is not available or is not made available by the nras in a timely fashion or in circumstances where a direct request by berec would prove more efficient and less burdensome , berec may address a duly justified and reasoned request to other authorities or directly to the relevant undertakings providing electronic communications networks , services and associated facilities . ### where information is not available or is not made available by the nras in a timely fashion or in circumstances where a direct request by berec or the berec office would prove more efficient and less burdensome , berec or the berec office may address a duly justified and reasoned request to other authorities or directly to the relevant undertakings providing electronic communications networks , services and associated facilities .


### berec shall inform the relevant nras of requests in accordance with this paragraph . ### berec or the berec office shall inform the relevant nras of requests in accordance with this paragraph .


### at the request of berec , the nras shall assist berec in collecting the information . ### at the request of berec or the berec office , the nras shall assist berec or berec office in collecting the information .


### members of the management board , the executive director , seconded national experts and other staff not employed by berec shall each make a declaration indicating their commitment and the absence or presence of any direct or indirect interest which might be considered prejudicial to their independence . ### members of the board of regulators and of the management board , the director , seconded national experts and other staff not employed by the berec office shall each make a declaration indicating their commitment and the absence or presence of any direct or indirect interest which might be considered prejudicial to their independence .


### the declarations shall be accurate and complete , made in writing and updated whenever necessary . the declarations of interests made by the members of the management board and the executive director shall be made public . ### the declarations shall be accurate and complete , made in writing and updated whenever necessary . the declarations of interests made by the members of the management board and the director shall be made public .


### members of the management board , the executive director , seconded national experts , other staff not employed by berec and experts participating in working groups shall each accurately and completely declare , at the latest at the start of each meeting , any interest which might be considered prejudicial to their independence in relation to the items on the agenda , and shall abstain from participating in the discussion of and voting upon such points . ### members of the management board , the director , seconded national experts , other staff not employed by the berec office and experts participating in working groups shall each accurately and completely declare , at the latest at the start of each meeting , any interest which might be considered prejudicial to their independence in relation to the items on the agenda , and shall abstain from participating in the discussion of and voting upon such points .


### in order to facilitate combating fraud , corruption and other unlawful activities under regulation no 883 / 2013 of the european parliament and of the council44 , within six months after the entry into force of this regulation , it shall accede to the interinstitutional agreement of 25 may 1999 concerning internal investigations by the olaf and adopt appropriate provisions applicable to all employees of berec using the template set out in the annex to that agreement . __________________ 44 regulation no 883 / 2013 of the european parliament and of the council of 11 of september 2013 concerning investigations conducted by the european anti - fraud office and repealing regulation no 1073 / 1999 of the european parliament and of the council and council regulation no 1074 / 1999 . ### in order to facilitate combating fraud , corruption and other unlawful activities under regulation no 883 / 2013 of the european parliament and of the council44 , by . . . [ please insert date : . . . months after the entry into force of this regulation ] , it shall accede to the interinstitutional agreement of 25 may 1999 concerning internal investigations by the olaf and adopt appropriate provisions applicable to all employees of the berec office using the template set out in the annex to that agreement . __________________ 44 regulation no 883 / 2013 of the european parliament and of the council of 11 of september 2013 concerning investigations conducted by the european anti - fraud office and repealing regulation no 1073 / 1999 of the european parliament and of the council and council regulation no 1074 / 1999 .


### the european court of auditors shall have the power of audit , on the basis of documents and on the spot , over all grant beneficiaries , contractors and subcontractors who have received union funds from berec . ### the european court of auditors shall have the power of audit , on the basis of documents and on the spot , over all grant beneficiaries , contractors and subcontractors who have received union funds from the berec office .


### olaf may carry out investigations , including on - the - spot checks and inspections with a view to establishing whether there has been fraud , corruption or any other illegal activity affecting the financial interests of the union in connection with a grant or a contract funded by berec , in accordance with the provisions and procedures laid down in regulation no 883 / 2013 and council regulation no 2185 / 9645 . __________________ 45 council regulation no 2185 / 96 of 11 november 1996 concerning on - the - spot checks and inspections carried out by the commission in order to protect the european communities ' financial interests against fraud and other irregularities . ### olaf may carry out investigations , including on - the - spot checks and inspections with a view to establishing whether there has been fraud , corruption or any other illegal activity affecting the financial interests of the union in connection with a grant or a contract funded by the berec office , in accordance with the provisions and procedures laid down in regulation no 883 / 2013 and council regulation no 2185 / 9645 . __________________ 45 council regulation no 2185 / 96 of 11 november 1996 concerning on - the - spot checks and inspections carried out by the commission in order to protect the european communities ' financial interests against fraud and other irregularities .


### without prejudice to paragraphs 1 , 2 and 3 , cooperation agreements with competent authorities of third countries and international organisations , contracts , grant agreements and grant decisions of berec shall contain provisions expressly empowering the european court of auditors and olaf to conduct such audits and investigations , according to their respective competences . ### without prejudice to paragraphs 1 , 2 and 3 , cooperation agreements with competent authorities of third countries and international organisations , contracts , grant agreements and grant decisions of the berec office shall contain provisions expressly empowering the european court of auditors and olaf to conduct such audits and investigations , according to their respective competences .


### berec ' s contractual liability shall be governed by the law applicable to the contract in question . ### the berec office ' s contractual liability shall be governed by the law applicable to the contract in question .


### the court of justice of the european union shall have jurisdiction to give judgment pursuant to any arbitration clause contained in a contract concluded by berec . ### the court of justice of the european union shall have jurisdiction to give judgment pursuant to any arbitration clause contained in a contract concluded by the berec office .


### in the case of non - contractual liability , berec shall , in accordance with the general principles common to the laws of the member states , make good any damage caused by its departments or by its staff in the performance of their duties . ### in the case of non - contractual liability , the berec office shall , in accordance with the general principles common to the laws of the member states , make good any damage caused by its departments or by its staff in the performance of their duties .


### the personal liability of its staff towards berec shall be governed by the provisions laid down in the staff regulations or conditions of employment applicable to them . ### the personal liability of its staff towards the berec office shall be governed by the provisions laid down in the staff regulations or conditions of employment applicable to them .


### the activities of berec shall be subject to the inquiries of the european ombudsman in accordance with article 228 of the treaty . ### the activities of the berec office shall be subject to the inquiries of the european ombudsman in accordance with article 228 of the treaty .


### the provisions laid down in regulation no 1 / 5846 shall apply to berec . __________________ 46 council regulation no 1 determining the languages to be used by the european economic community . ### the provisions laid down in regulation no 1 / 5846 shall apply to the berec office . __________________ 46 council regulation no 1 determining the languages to be used by the european economic community .


### the translation services required for the functioning of berec shall be provided by the translation centre of the bodies of the european union . ### the translation services required for the functioning of the berec office shall be provided by the translation centre of the bodies of the european union .


### the necessary arrangements concerning the accommodation to be provided for berec in the host member state and the facilities to be made available by that member state as well as the specific rules applicable in the host member state to the executive director , members of the management board , berec staff and members of their families shall be laid down in a headquarters agreement between berec and the member state where the seat is located , concluded after obtaining the approval of the management board and no later than two years after the entry into force of this regulation . ### the necessary arrangements concerning the accommodation to be provided for the berec office in the host member state and the facilities to be made available by that member state as well as the specific rules applicable in the host member state to the director , members of the management board , the berec office staff and members of their families shall be laid down in a headquarters agreement between the berec office and the member state where the seat is located , concluded after obtaining the approval of the management board and no later than two years after the entry into force of this regulation .


### berec’s host member state shall provide the necessary conditions to ensure the smooth and efficient functioning of berec , including multilingual , european - oriented schooling and appropriate transport connections . ### the berec office’s host member state shall provide the necessary conditions to ensure the smooth and efficient functioning of the berec office , including multilingual , european - oriented schooling and appropriate transport connections .


### no later than five years from the day of entry into force of this regulation , and every five years thereafter , the commission shall perform an evaluation in compliance with the commission guidelines to assess berec ' s performance in relation to its objectives , mandate , tasks and location . the evaluation shall , in particular , address the possible need to modify the mandate of berec , and the financial implications of any such modification . ### no later than five years from the day of entry into force of this regulation , and every five years thereafter , the commission shall perform an evaluation in compliance with the commission guidelines to assess the performance of berec and the berec office in relation to its objectives , mandate , tasks and location . the evaluation shall , in particular , address the possible need to modify the mandate of berec and the berec office , and the financial implications of any such modification .


### where the commission considers that the continuation of berec is no longer justified with regard to its assigned objectives , mandate and tasks , it may propose that this regulation be amended accordingly or repealed . ### where the commission considers that the continuation of berec and the berec office is no longer justified with regard to its assigned objectives , mandate and tasks , it may propose that this regulation be amended accordingly or repealed .


### without prejudice to paragraph 2 , berec shall succeed the office that was established by regulation no 1211 / 2009 as regards all ownership , agreements , legal obligations , employment contracts , financial commitments and liabilities . ### without prejudice to paragraph 2 , the berec office shall succeed the office that was established by regulation no 1211 / 2009 as regards all ownership , agreements , legal obligations , employment contracts , financial commitments and liabilities .


### in particular , this regulation shall not affect the rights and obligations of the staff of the office established under regulation no 1211 / 2009 . their contracts may be renewed under this regulation in accordance with the staff regulations and the conditions of employment and in accordance with the budgetary constraints of berec . ### in particular , this regulation shall not affect the rights and obligations of the staff of the office established under regulation no 1211 / 2009 . their contracts may be renewed under this regulation in accordance with the staff regulations and the conditions of employment and in accordance with the budgetary constraints of the berec office .


### with effect from [ the date of entry into force of this regulation ] and until the executive director takes up his / her duties following his / her appointment by the management board in accordance with article 22 , the administrative manager appointed on the basis of regulation no 1211 / 2009 shall , for the remaining period of his / her term of office , act as interim executive director with the functions provided for in this regulation . the other conditions of the administrative manager’s contract shall remain unchanged . ### with effect from [ the date of entry into force of this regulation ] and until the director takes up his / her duties following his / her appointment by the management board in accordance with article 22 , the administrative manager appointed on the basis of regulation no 1211 / 2009 shall , for the remaining period of his / her term of office , act as interim director with the functions provided for in this regulation . the other conditions of the administrative manager’s contract shall remain unchanged .


### as interim executive director , he / she shall exercise the appointing authority powers . he / she may authorise all payments covered by appropriations entered in berec’s budget after approval by the management board and may conclude contracts , including staff contracts , following the adoption of berec’s establishment plan . ### as interim director , he / she shall exercise the appointing authority powers . he / she may authorise all payments covered by appropriations entered in the berec office’s budget after approval by the management board and may conclude contracts , including staff contracts , following the adoption of berec’s establishment plan .


### the contract of employment of the administrative manager appointed on the basis of regulation no 1211 / 2009 shall be terminated at the the end of his / her term of office or the day when the executive director takes up his / her duties following his / her appointment by the management board in accordance with article 22 , whichever is the earlier . ### the contract of employment of the administrative manager appointed on the basis of regulation no 1211 / 2009 shall be terminated at the end of his / her term of office or the day when the director takes up his / her duties following his / her appointment by the management board in accordance with article 22 .


### references to regulation no 1211 / 2009 and to the berec office shall be construed as references to this regulation and to berec . ### references to regulation no 1211 / 2009 shall be construed as references to this regulation .


### the programme has the following general objective : to support the digital transformation of the european economy and society and bring its benefits to european citizens and businesses . the programme will : ### the programme has the following general objective : to support the digital transformation of the european economy , industry , mobility and society and bring its benefits to european citizens and businesses . the programme shall also aim to reinforce the strategic autonomy of the union . the programme will :


### support the design and delivery of long - term trainings and courses for students , it professionals and the workforce ; ### support the design and delivery of long - term trainings and courses for students , educators , it professionals and the workforce ;


### support the design and delivery of short - term trainings and courses for entrepreneurs , small business leaders and the workforce ; ### support the design and delivery of short - term trainings and courses for it professionals , educators , entrepreneurs , small business leaders and the workforce ;


### transport , energy and environment : deploy decentralised solutions and infrastructures required for large - scale digital applications such as smart cities or smart rural areas in support of transport , energy and environmental policies . ### transport , energy and environment : deploy decentralised solutions and infrastructures required for large - scale digital applications such as smart cities , smart rural areas or outermost regions in support of transport , energy and environmental policies .


### education and culture : provide creators and creative industry in europe with access to latest digital technologies from ai to advanced computing . exploit the european cultural heritage as a vector to promote cultural diversity , social cohesion and european citizenship . support the uptake of digital technologies in education . ### education , culture and the tourism sector : provide creators and creative industry in europe and the tourism sector with access to latest digital technologies from ai to advanced computing . exploit the european cultural heritage and the tourism sector as a vector to promote cultural diversity , social cohesion and european citizenship . support the uptake of digital technologies in education and the tourism sector .


### the g20 , through the global infrastructure initiative , has recognised the importance of investment in boosting demand and lifting productivity and growth and has committed to creating a climate that facilitates higher levels of investment . ### the g20 , through the global infrastructure initiative , has recognised the importance of investment in boosting demand and lifting productivity and growth and has committed to creating a climate that facilitates higher levels of investment . the efsi must complement to an overall strategy to improve investments in europe , not replacing other investments and financial structures and not undermining the union ' s investments in science , research and development .


### the investment environment within the union should be improved by removing barriers to investment , reinforcing the single market and by enhancing regulatory predictability . the work of the efsi , and investments across europe generally , should benefit from this accompanying work . ### the investment environment within the union should be improved by removing barriers to investment , reinforcing the single market and by enhancing regulatory predictability . the work of the efsi , and investments across europe generally , should benefit from this work which adds value to national efforts .


### the investment environment within the union should be improved by removing barriers to investment , reinforcing the single market and by enhancing regulatory predictability . the work of the efsi , and investments across europe generally , should benefit from this accompanying work . ### the investment environment within the union should be improved and stabilised by removing barriers to investment , reinforcing the single market and by enhancing regulatory predictability . the work of the efsi , and investments across europe generally , should benefit from this accompanying work .


### the purpose of the efsi should be to help resolve the difficulties in financing and implementing productive investments in the union and to ensure increased access to financing . it is intended that increased access to financing should be of particular benefit to small and medium enterprises . it is also appropriate to extend the benefit of such increased access to financing to mid - cap companies , which are companies having up to 3000 employees . overcoming europe ' s current investment difficulties should contribute to strengthening the union ' s economic , social and territorial cohesion . ### the purpose of the efsi should be to help resolve the difficulties in financing and implementing productive and strategic investments in the union , which are of economic and societal importance for boosting a sustainable economy and the creation of quality jobs , and to ensure increased access to financing , particularly in regions where such access is structurally constrained . it is intended that increased access to financing should be of particular benefit to small and medium enterprises , creating a proper environment for innovative start - ups . it is also appropriate to extend the benefit of such increased access to financing to mid - cap companies , which are companies having up to 3000 employees . overcoming europe ' s current investment difficulties should contribute to strengthening the union ' s economic , social and territorial cohesion .


### the purpose of the efsi should be to help resolve the difficulties in financing and implementing productive investments in the union and to ensure increased access to financing . it is intended that increased access to financing should be of particular benefit to small and medium enterprises . it is also appropriate to extend the benefit of such increased access to financing to mid - cap companies , which are companies having up to 3000 employees . overcoming europe ' s current investment difficulties should contribute to strengthening the union ' s economic , social and territorial cohesion . ### the purpose of the efsi should be to help resolve the difficulties in financing and implementing productive investments in the union that provide an immediate boost to europe ' s economy and to ensure increased access to financing . it is intended that increased access to financing should be of particular benefit to small and medium enterprises , small mid - cap companies , and mid - cap companies having up to 3000 employees , but should not be limited to these types of companies . overcoming europe ' s current investment difficulties should contribute to closing the innovation divide in europe , strengthening the union ' s innovation potential , competitiveness , economic growth and employment , as well as economic , social and territorial cohesion .


### the efsi should target projects delivering high societal and economic value . in particular , the efsi should target projects that promote job creation , long - term growth and competitiveness . the efsi should support a wide range of financial products , including equity , debt or guarantees , to best accommodate the needs of the individual project . this wide range of products should allow the efsi to adapt to market needs whilst encouraging private investment in the projects . the efsi should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money . the requirement for consistency with state aid principles should contribute to such effective and strategic use . ### the efsi should target projects delivering high societal , sustainable , environmental and economic benefits . in particular , the efsi should target environmentally and socially sustainable projects that promote quality job creation , long - term growth and sustainability , resource and energy efficiency , innovation and new technologies in the health sector , the green economy and competitiveness . the efsi should support a wide range of financial products , including equity , debt or guarantees , to best accommodate the needs of the individual project . this wide range of products should allow the efsi to adapt to market needs whilst encouraging private investment in the projects . the efsi should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money . the requirement for consistency with state aid principles should contribute to such an effective and strategic use .


### the efsi should target projects delivering high societal and economic value . in particular , the efsi should target projects that promote job creation , long - term growth and competitiveness . the efsi should support a wide range of financial products , including equity , debt or guarantees , to best accommodate the needs of the individual project . this wide range of products should allow the efsi to adapt to market needs whilst encouraging private investment in the projects . the efsi should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money . the requirement for consistency with state aid principles should contribute to such effective and strategic use . ### the efsi should target projects delivering high societal and economic value . in particular , the efsi should target projects that promote research , education and training , job creation , long - term growth and competitiveness and contribute to achieving the targets of the union strategy for smart , sustainable and inclusive growth . the efsi should support a wide range of financial products , including equity , debt or guarantees , to best accommodate the needs of the individual project . this wide range of products should allow the efsi to adapt to market needs whilst encouraging private investment in the projects . the efsi should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money . the requirement for consistency with state aid principles should contribute to such effective and strategic use .


### the efsi should target projects delivering high societal and economic value . in particular , the efsi should target projects that promote job creation , long - term growth and competitiveness . the efsi should support a wide range of financial products , including equity , debt or guarantees , to best accommodate the needs of the individual project . this wide range of products should allow the efsi to adapt to market needs whilst encouraging private investment in the projects . the efsi should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures so as to ensure the most effective and strategic use of public money . the requirement for consistency with state aid principles should contribute to such effective and strategic use . ### the efsi should target projects delivering high societal and economic value . in particular , the efsi should target projects that promote quality and long - term job creation , long - term sustainable growth , innovation and competitiveness , especially infrastructure measures . the efsi should support a wide range of financial products , including equity , debt or guarantees , to best accommodate the needs of the individual project . this wide range of products should allow the efsi to adapt to market needs whilst encouraging private investment and the involvement of rural communities in the projects . the efsi should not be a substitute for private market finance but should instead catalyse private finance by addressing market failures , without adding to the administrative burden or creating additional payment systems , which would undermine the efficiency of the efsi’s objectives , so as to ensure the most effective and strategic use of public money . the requirement for consistency with state aid principles should contribute to such effective and strategic use . the efsi should also ensure consistency and complementarity in relation to projects that have already been financed by union funds , paying special attention to rural development funds .


### decisions on the use of the efsi support for infrastructure and large mid - cap projects should be made by an investment committee . the investment committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects . the investment committee should be accountable to a steering board of the efsi , who should supervise the fulfilment of the efsi ' s objectives . to effectively benefit from the experience of the eif , the efsi should support funding to the eif to allow the eif to undertake individual projects in the areas of small and medium enterprises and small mid - cap companies . ### decisions on the use of the efsi support for infrastructure and large mid - cap projects should be made by an investment committee . the investment committee should be composed of independent and impartial experts who are knowledgeable and experienced in the areas of investment projects . the experts of the investment committee should be selected on the basis of a transparent procedure which ensures that the committee disposes of the broadest possible expertise , encompassing various sectors and geographic markets of the union . the investment committee should be accountable to a steering board of the efsi , who should supervise the fulfilment of the efsi ' s objectives . to effectively benefit from the experience of the eif , the efsi should support funding to the eif to allow the eif to undertake individual projects in the areas of small and medium enterprises and small mid - cap companies .


### decisions on the use of the efsi support for infrastructure and large mid - cap projects should be made by an investment committee . the investment committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects . the investment committee should be accountable to a steering board of the efsi , who should supervise the fulfilment of the efsi ' s objectives . to effectively benefit from the experience of the eif , the efsi should support funding to the eif to allow the eif to undertake individual projects in the areas of small and medium enterprises and small mid - cap companies . ### decisions on the use of the efsi support for infrastructure and large mid - cap projects should be made by an investment committee . the investment committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects . the investment committee should be accountable to a steering board of the efsi , who should supervise the fulfilment of the efsi ' s objectives . to effectively benefit from the experience of the eif , the efsi should support funding to the eif to allow the eif to undertake individual projects in the areas of small and medium enterprises and small mid - cap companies . the decisions made by the investment committee should be free from any undue interference to ensure its full independence , which is the key to maintain investor trust .


### decisions on the use of the efsi support for infrastructure and large mid - cap projects should be made by an investment committee . the investment committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects . the investment committee should be accountable to a steering board of the efsi , who should supervise the fulfilment of the efsi ' s objectives . to effectively benefit from the experience of the eif , the efsi should support funding to the eif to allow the eif to undertake individual projects in the areas of small and medium enterprises and small mid - cap companies . ### decisions on the use of the efsi support for infrastructure and large mid - cap projects should be made by an investment committee . the investment committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects . the investment committee should be accountable to a steering board of the efsi , who should supervise the fulfilment of the efsi ' s objectives . to effectively benefit from the experience of the eif , the efsi should support funding to the eif to allow the eif to undertake individual projects in the areas of micro , small and medium enterprises and small mid - cap companies . adequate organisational arrangements shall be in place to ensure operational independence of the investment committee . the decisions made by the investment committee shall be free from any undue interference .


### decisions on the use of the efsi support for infrastructure and large mid - cap projects should be made by an investment committee . the investment committee should be composed of independent experts who are knowledgeable and experienced in the areas of investment projects . the investment committee should be accountable to a steering board of the efsi , who should supervise the fulfilment of the efsi ' s objectives . to effectively benefit from the experience of the eif , the efsi should support funding to the eif to allow the eif to undertake individual projects in the areas of small and medium enterprises and small mid - cap companies . ### decisions on the use of the efsi support for infrastructure and large mid - cap projects should be made by an investment committee . the investment committee should be composed of independent experts who are knowledgeable and experienced in the areas of project structuring and project financing , and investment projects in the sectorial domains specified in this regulation as well as in geographic markets within the union . the investment committee should be accountable to a steering board of the efsi , who should supervise the fulfilment of the efsi ' s objectives . to effectively benefit from the experience of the eif , the efsi should support funding to the eif to allow the eif to undertake individual projects in the areas of small and medium enterprises and small mid - cap companies . the decisions made by the investment committee should be free from any undue interference so as to ensure its full independence , which is the key to maintain the investor trust .


### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . ### alongside the financing operations that will be conducted through the efsi , a public european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . the eib should report annually to the european parliament and the council on the services provided by the eiah and the execution of the budget of the eiah .


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


### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . ### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds , smes ' representatives as well as experts in employment and social policies . this should establish a single point of entry for questions related to technical assistance for investments within the union , access to which shall be fostered by a multilingual and further decentralised approach to support effective dissemination of information .


### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . ### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development , preparation and aggregation across the union , by building on the expertise of the commission , the eib , national promotional banks , the managing authorities of the european structural and investment funds and best practices from projects such as elena , innovfin and the eeif . this should establish a single point of entry for questions related to technical assistance for investments within the union where possible providing technical assistance on a decentralised basis . the setting up of the eiah as a single entry point and the new services provided by it shall in no way alter the objective of existing technical assistance programmes or affect the quality or capacity of these in carrying out their dedicated tasks .


### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . ### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union , access to which should be fostered by a multilingual and decentralised approach , to support effective dissemination of information .


### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . ### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . the eiah should enable member states and regions across the union to benefit from free expertise so as to ensure fair access to efsi financing .


### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . ### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . a single point of entry for questions related to technical assistance for investments within the union should be established and technical assistance free of charge should be provided to project promoters at national and local level to ensure equal access to efsi financing .


### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . ### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union where possible providing technical assistance to on a decentralised basis . the setting up of the eiah as a single entry point and the new services provided by it shall in no way alter objective of existing technical assistance programmes or affect the quality or capacity of these in carrying out their dedicated tasks .


### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . ### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union , access to which should be fostered by creating sub - national centres for investment support , facilitating effective dissemination of information .


### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide strengthened support for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . ### alongside the financing operations that will be conducted through the efsi , a european investment advisory hub should be created . the eiah should provide decentralised on the ground and strengthened technical assistance for project development and preparation across the union , by building on the expertise of the commission , the eib , national promotional banks and the managing authorities of the european structural and investment funds . this should establish a single point of entry for questions related to technical assistance for investments within the union . eiah should add value to and coordinate with existing technical assistance facilities .


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