### ' acceptable ' shall mean : rendering a risk of a major accident tolerable to the furthest extent beyond which no significant reduction of the risk is derived from the input of further time , resources or cost ; ### ' acceptable ' shall mean : limiting the risk of a major accident to the furthest extent possible beyond which no significant reduction of the risk is derived from an appropriate input of further time , resources or cost ;


### be initiated to contain an incipient major accident within the installation , or within the exclusion zone established by the member state around the perimeter of the installation , or subsea wellhead ; ### be initiated to prevent escalation or limit consequences of an accident related to offshore oil and gas operations within an exclusion zone established by the member state around the perimeter of the installation , subsea wellhead or pipeline ;


### member states shall keep updated records of emergency response resources available in their jurisdiction by both public and private entities . those records shall be made available to other member states or potentially affected third countries and to the commission . ### member states shall keep updated records of emergency response resources available in their jurisdiction by both public and private entities . those records shall be made available to other member states or potentially affected third countries , to the agency and to the commission .


### ' major accident ' shall mean : an occurrence such as fire or explosion , significant loss of well control or significant escape of hydrocarbons to the environment , significant damage to the installation or equipment thereon , loss of structural integrity of the installation , and any other event involving death or major injury to five or more persons on or working in connection with the installation ; ### ' major accident ' shall mean : an occurrence such as a fire or explosion , loss of well control or a significant release of hydrocarbons or other chemicals to the environment , significant damage to the installation or equipment thereon , loss of structural integrity of the installation , and any other event involving death , or major injury to five or more persons on or working in connection with the installation ;


### a description of the aspects of the environment likely to be significantly affected , an assessment of the identified potential environmental effets , in particular releases of pollutants to the environment , and a description of the technical and non - technical measures envisaged to prevent , reduce or offset them , including monitoring . ### a description of the aspects of the environment likely to be affected , an assessment of the identified potential environmental effects , in particular releases of chemicals , other hazardous substances and pollutants to the environment , and a description of the technical and non - technical measures envisaged to prevent , reduce or offset them , including monitoring .


### as no existing financial security instruments , including risk pooling arrangements , can accommodate all possible consequences of extreme accidents , the commission should proceed with further analysis and studies of the appropriate measures to ensure adequately robust liability regime for damages related to offshore oil and gas operations , requirements on financial capacity including availability of appropriated financial security instruments or other arrangements . ### member states should ensure that operators in their jurisdiction demonstrate their ability to pay for the consequences of damage caused by their operations , through the provision of financial security , and should decide which instruments are appropriate for this purpose . as no existing financial security instruments , including risk pooling arrangements , can accommodate all possible consequences of extreme accidents , the commission should proceed with further analysis and studies of the appropriate measures to ensure a robust liability regime for damages related to offshore oil and gas operations , and requirements on financial capacity including improving the availability of financial security instruments and arrangements . the commission should report on the findings and proposals within one year after adoption of this regulation .


### the operator shall periodically test the effectiveness of the internal emergency response plans . ### the operator shall annually test the internal emergency response plan to demonstrate the effectiveness of their response equipment and capabilities in order to guarantee a high level of safety and performance in evacuation , containment and control , recovery , clean - up and disposal operations .


### an assessment of the availability of emergency response equipment and adequacy of procedures to effectively put it in use ; ### an assessment of the availability and the adequacy and proper functioning of emergency response equipment and adequacy of procedures to effectively put it in use ;


### every two years , the commission shall publish reports on the safety of offshore operations across the union based on the information reported to it by member states and the european maritime safety agency . the commission shall be assisted in this task by relevant member states pursuant article 26 . ### every year by 31 march , the commission shall publish reports on the safety of offshore operations across the union based on the information reported to it by member states and the european maritime safety agency . the commission shall be assisted in this task by relevant member states pursuant article 26 .


### where a member state considers that a well operation or the operation of an installation may have significant negative effects on waters of another member state in the case of an accident , or where a member state likely to be significantly affected so requests , the member state in whose jurisdiction the operations are to take place , shall forward to the affected member state the relevant information and shall endeavour to adopt joint preventive measures to prevent damages . ### where a member state considers that a well operation or the operation of an installation may have significant negative effects on the environment or waters of another member state in the case of an accident , or where a member state likely to be significantly affected so requests , the member state in whose jurisdiction the operations are to take place , shall forward to the affected member state the relevant information . upon the request of the affected member state , the member state in whose jurisdiction the operations are to take place , shall allow for a joint inspection of the well operation , or installation to take place by the member states concerned and shall endeavour to adopt joint preventive measures to prevent damage to the environment and to human health .


### the commission shall promote high safety standards for offshore oil and gas operations at international level at appropriate global and regional fora , including those related to arctic waters . ### the commission shall promote high safety standards for offshore oil and gas operations at international level at appropriate global and regional fora .


### competent authorities shall establish procedures for allowing anonymous reporting of safety and / or environmental concerns related to offshore oil and gas operations . competent authorities shall also establish procedures to investigate these reports while maintaining anonymity of the individuals concerned . ### the competent authorities shall establish procedures for allowing anonymous reporting of safety or environmental , concerns relating to the offshore oil and gas operations covered by this regulation . competent authorities shall also establish procedures to investigate these reports whilst ensuring that the anonymity of the individuals concerned is maintained .


### the commission shall promote high safety standards for offshore oil and gas operations at international level at appropriate global and regional fora , including those related to arctic waters . ### the commission shall promote high safety standards for offshore oil and gas operations at international level at appropriate global and regional fora , including those related to arctic waters . the commission shall use the eu neighbourhood policy as a tool to advocate for the highest safety and environmental standards .


### licensees , operators and major contractors based in the union shall endeavour to conduct their offshore oil and gas operations when outside the union in accordance with the principles set out in this regulation . ### licensees , operators and major contractors based in the union shall conduct their offshore oil and gas operations when outside the union in accordance with the principles set out in this regulation .


### the serious environmental concerns relating to the arctic waters , a neighbouring marine environment of particular importance for the community , require special attention to ensure the environmental protection of the arctic in relation to any offshore activities , including exploration . ### the serious environmental concerns and vulnerability relating to the unique arctic waters , a neighbouring marine environment of particular importance for the community which plays an important role in mitigating climate change , require special attention to ensure the environmental protection of the arctic . as long as an effective response to any accident in the arctic conditions cannot be guaranteed , member states should refrain from authorising offshore activities , including exploration , in the area .


### licensing authorities pursuant to directive 94 / 22 / ec shall , when assessing the technical and financial capacity of the entities that apply for authorisation for offshore oil and gas activities , take into account the risks , hazards and any other relevant information related to the location concerned and the particular stage of exploration and production operations . ### licensing authorities pursuant to directive 94 / 22 / ec shall , when assessing the technical and financial capacity of the entities that apply for authorisation for offshore oil and gas activities , take into account the risks , hazards and any other relevant information related to the location concerned and the particular stage of exploration and production operations . specifically , account will be taken of any risks and possible effects on vulnerable resources in the natura 2000 network and of fishing and tourism activities and the abstraction of seawater for desalination and public supply purposes .


### in particular , when assessing the technical and financial capacity of the entities that apply for authorisation for offshore oil and gas activities , due account shall be taken of the risk , hazards and any other relevant information related to the area concerned and the particular stage of exploration and production operations and also of the applicants ‘ financial capacities , including any financial security and capacity to cover liabilities potentially deriving from offshore oil and gas activities in question , in particular liability for environmental damages . ### in particular , when assessing the technical and financial capacity of the entities that apply for authorisation for offshore oil and gas activities , due account shall be taken of the risk , hazards and any other relevant information related to the area concerned and the particular stage of exploration and production operations and also of the applicants ‘ financial capacities , including any financial security and capacity to cover all liabilities potentially deriving from offshore oil and gas activities in question , in particular liability for environmental damages . worldwide corporate responsibility regarding accidents or incidents in which the applicant was involved , including the transparency and effectiveness of any response measures shall also be taken into account .


### the serious environmental concerns relating to the arctic waters , a neighbouring marine environment of particular importance for the community , require special attention to ensure the environmental protection of the arctic in relation to any offshore activities , including exploration . ### the arctic waters are a neighbouring marine environment of unique and exceptional importance to the european union . it is evident that serious and potentially irreversible damage is occurring to the environment and fragile ecosystem of the arctic waters . special attention therefore requires to be paid to ensure the protection of the environment of the arctic in relation to any offshore activities , including in particular , exploration activities .


### ' acceptable ' shall mean : rendering a risk of a major accident tolerable to the furthest extent beyond which no significant reduction of the risk is derived from the input of further time , resources or cost ; ### ' acceptable ' shall mean : limiting the risk of a major accident to the furthest extent possible beyond which no significant reduction of the risk is derived from an appropriate input of further time , resources or cost ;


### the major hazard report for a production installation shall contain the details specified in annex ii , parts 2 and 5 . ### the major hazard report for a production installation shall contain the details specified in annex ii , parts 2 and 5 , and shall contain evidence that there has been consultation with the personnel .


### ' operator ' shall mean : the operator of a production installation or the owner of a non - production installation and the well operator of a well operation . operator and licensee both come under the definition of article 2 of directive 2004 / 35 / ec ; ### ' operator ' means any natural or legal person who operates or controls an installation , or to whom the decisive economic or decision - making power over the technical functioning of the installation has been delegated ;


### the competent authority shall develop annual plans for effective oversight , including inspections , of major hazard activities based on risk and paying particular regard to , and verifying , compliance with the documents submitted to it pursuant to article 9 , and shall monitor its effectiveness and shall take any necessary measures to effect improvements thereto . ### the competent authority shall develop and prepare annual plans for effective oversight of major hazard activities . those plans shall make provision for regular monitoring and inspection of such activities . those plans shall also be risk - based and pay particular regard to verifying compliance with the documents submitted to it pursuant to article 9 . the effectiveness of the plans shall be regularly reviewed and the competent authority shall take any necessary measures to effect improvements thereto .


### as no existing financial security instruments , including risk pooling arrangements , can accommodate all possible consequences of extreme accidents , the commission should proceed with further analysis and studies of the appropriate measures to ensure adequately robust liability regime for damages related to offshore oil and gas operations , requirements on financial capacity including availability of appropriated financial security instruments or other arrangements . ### member states should ensure that operators in their jurisdiction demonstrate their ability to pay for the consequences of damage caused by their operations , through the provision of financial security , and should decide which instruments are appropriate for this purpose . as no existing financial security instruments , including risk pooling arrangements , can accommodate all possible consequences of extreme accidents , the commission should proceed with further analysis and studies of the appropriate measures to ensure a robust liability regime for damages related to offshore oil and gas operations , and requirements on financial capacity including improving the availability of financial security instruments and arrangements . the commission should report on the findings and proposals within one year after adoption of this regulation .


### as no existing financial security instruments , including risk pooling arrangements , can accommodate all possible consequences of extreme accidents , the commission should proceed with further analysis and studies of the appropriate measures to ensure adequately robust liability regime for damages related to offshore oil and gas operations , requirements on financial capacity including availability of appropriated financial security instruments or other arrangements . ### member states should ensure that operators in their jurisdiction demonstrate that financial guarantees are in place to ensure the full cost of clean - up and compensation in the case of a major accident , through the provision of financial security , and should decide what instruments are appropriate for this purpose . as no existing financial security instruments , including risk pooling arrangements , can accommodate all possible consequences of extreme accidents , the commission should proceed with further analysis and studies of the appropriate measures to ensure adequately robust liability regime for damages related to offshore oil and gas operations , requirements on financial capacity including availability of appropriated financial security instruments or other arrangements .


### licensees , operators and major contractors based in the union shall endeavour to conduct their offshore oil and gas operations when outside the union in accordance with the principles set out in this regulation . ### licensees , operators and major contractors based in the union shall conduct their offshore oil and gas operations when outside the union in accordance with obligations to which they are subject under this article and pursuant to articles 21 and 23 .


### the major hazard report for a non - production installation shall contain the details specified in annex ii , parts 3 and 5 . ### the major hazard report for a non - production installation shall contain the details specified in annex ii , parts 3 and 5 , and shall contain evidence that there has been consultation with the personnel .


### as no existing financial security instruments , including risk pooling arrangements , can accommodate all possible consequences of extreme accidents , the commission should proceed with further analysis and studies of the appropriate measures to ensure adequately robust liability regime for damages related to offshore oil and gas operations , requirements on financial capacity including availability of appropriated financial security instruments or other arrangements . ### member states should ensure that operators demonstrate their ability to pay for the consequences of damage caused by their operations , at all phases of offshore projects , through the provision of financial security , and should decide which instruments are appropriate for this purpose . as no existing financial security instruments , including risk pooling arrangements , can accommodate all possible consequences of extreme accidents , the commission should proceed with further analysis and studies of the appropriate measures to ensure a robust liability regime for damages related to offshore oil and gas operations , and requirements on financial capacity including improving the availability of financial security instruments and arrangements . the commission should , by 20 december 2013 , report to the european parliament and to the council on its findings and any proposals .


### every two years , the commission shall publish reports on the safety of offshore operations across the union based on the information reported to it by member states and the european maritime safety agency . the commission shall be assisted in this task by relevant member states pursuant article 26 . ### every two years , the commission shall publish reports on the safety of offshore operations across the union based on the information reported to it by member states and the european maritime safety agency . the commission shall be assisted in this task by the agency and relevant member states pursuant article 27 .


### the operator shall immediately notify the relevant authorities of a major accident or of a situation with immediate risk of major accident . where necessary , relevant authorities shall assist the operator concerned with a view to preventing escalation of the risk or accident . ### the operator shall immediately notify the relevant authorities of a major accident , including its origin and possible impacts on the environment and human life and health , or of a situation with an immediate risk of a major accident . where necessary , relevant authorities shall assist the operator concerned with a view to preventing escalation of the risk or accident .


### member states shall prepare external emergency plans covering all offshore oil and gas installations and potentially affected areas within their jurisdiction . ### member states shall prepare external emergency response plans covering all offshore oil and gas installations or connected infrastructure and potentially affected areas within their jurisdiction . the external emergency response plans shall specify the role of operators in the external emergency response , and the operators ' responsibility for the costs of external emergency response .


### where non compliance with the provisions of paragraph 1 to this article poses an immediate danger to human health or threatens to cause an immediate significant adverse effect upon safety and / or the environment , the operation of the installation or operation of relevant part thereof shall be suspended by the operator , until compliance is restored . ### where non - compliance with the requirements laid down in paragraph 1 poses an immediate danger to human health or threatens to cause an immediate significant adverse effect upon safety and / or the environment , the operation of the installation or operation of relevant parts thereof shall be suspended by the operator , until the operator has demonstrated that compliance with the requirements laid down in paragraph 1 is restored .


### should a major accident nonetheless occur , operators and competent authorities shall take all suitable measures to limit their consequences for human health and the environment and where possible to avoid serious disruptions of oil and gas production withing the union . ### should a major accident nonetheless occur , operators and competent authorities from member states affected by the accident shall take all suitable measures to limit their consequences for human health and the environment and where possible to avoid serious disruptions of oil and gas production within the union .


### the operator shall periodically test the effectiveness of the internal emergency response plans . ### the operator shall annually test the internal emergency response plan to demonstrate the effectiveness of their response equipment and capabilities in order to guarantee a high level of safety and performance in evacuation , containment and control , recovery , clean - up and disposal operations .


### a description of the aspects of the environment likely to be significantly affected , an assessment of the identified potential environmental effets , in particular releases of pollutants to the environment , and a description of the technical and non - technical measures envisaged to prevent , reduce or offset them , including monitoring . ### a description of the aspects of the environment likely to affected , an assessment of the identified potential environmental effects , in particular releases of chemicals , other hazardous substances and pollutants to the environment , and a description of the technical and non - technical measures envisaged to prevent , reduce or offset them , including monitoring .


### the commission shall by means of an implementing measure also determine a common publication format that shall enable easy cross - border comparison of data . this implementing act shall be adopted in accordance with the advisory procedure referred to in article 4 of the regulation no 182 / 2011 . while remaining accessible to general public , the common publication format shall be developed in view of the allowing for a reliable comparison of national operations and regulatory practices pursuant to this article and article 24 . ### the commission , assisted by the agency , shall by means of an implementing measure also determine a common publication format that shall enable easy cross - border comparison of data . this implementing act shall be adopted in accordance with the advisory procedure referred to in article 4 of the regulation no 182 / 2011 . while remaining accessible to general public , the common publication format shall be developed in view of the allowing for a reliable comparison of national operations and regulatory practices pursuant to this article and article 24 .


### new motorcycles of subcategories l3e–a2 and l3e–a3 which are sold , registered and entering into service to be equipped with an anti - lock brake system . ### new motorcycles of subcategories l3e–a1 , l3e–a2 and l3e–a3 which are sold , registered and entering into service to be equipped with an anti - lock brake system on both wheels .


### new motorcycles of subcategories l3e–a2 and l3e–a3 which are sold , registered and entering into service to be equipped with an anti - lock brake system . ### new motorcycles of subcategories l3e–a2 and l3e–a3 which are sold , registered and entering into service to be equipped with an anti - lock brake system on both wheels .


### on the basis of the information supplied under paragraph 1 , the commission shall report to the european parliament and the council on the application of this regulation no later than 1 january 2019 . ### on the basis of the information supplied under paragraph 1 , the commission shall report to the european parliament and the council on the application of this regulation no later than 1 january 2019 . this report shall take account of new technologies developed to improve road safety , such as curve speed warning systems , automatic tyre pressure detectors and new lighting systems differentiating such vehicles from other road users . the commission shall propose the necessary amendments to this regulation in the light of this report .


### for payments to be made after 31 december 2015 . ### for payments to be made after 31 december 2015 for all commitments undertaken pursuant to article 36 .


### by way of derogation from article 94 of regulation no [ &#8230 ; ] [ rd ] , for the measures of article 36 to and and of regulation no 1698 / 2005 , member states may continue to undertake new legal commitments to beneficiaries in 2014 pursuant to the rural development programmes adopted on the basis of regulation no 1698 / 2005 even after the financial resources of the 2007 - 2013 programming period have been used up , until the adoption of the respective rural development programme for the 2014 - 2020 programming period . the expenditure incurred on the basis of these commitments shall be eligible in accordance with article 3 of this regulation . ### by way of derogation from article 94 of regulation no [ . . . ] [ rd ] , member states may continue to undertake new legal commitments to beneficiaries in 2014 , in relation to the measures referred to in articles 20 , 36 , 52 and 63 of regulation no 1698 / 2005 , pursuant to the rural development programmes adopted on the basis of regulation no 1698 / 2005 even after the financial resources of the 2007 - 2013 programming period have been used up , until the adoption of the respective rural development programme for the 2014 - 2020 programming period , or until the end of 2014 . the expenditure incurred on the basis of these commitments shall be eligible in accordance with article 3 of this regulation .


### by way of derogation from article 7 of regulation no [ &#8230 ; ] [ rd ] , expenditure relating to legal commitments to beneficiaries , undertaken under the measures of article 36 to and and of regulation no 1698 / 2005 and of article 36 and of that regulation in relation to the annual premium , shall be eligible for an eafrd contribution in the 2014 - 2020 programming period in the following cases : ### by way of derogation from article 7 of regulation no [ . . . ] [ rd ] , expenditure relating to legal commitments to beneficiaries , undertaken under the measures referred to in articles 20 , 36 , 52 and 63 of regulation no 1698 / 2005 , , shall be eligible for an eafrd contribution in the 2014 - 2020 programming period in the following cases :


### from 2020 , this regulation sets a target of 135 g co2 / km for the average emissions of new light commercial vehicles registered in the community . ### this regulation sets a target of 160 g co2 / km , starting in 2020 , as average emissions for the new light commercial vehicles fleet , in accordance with article 12 . this regulation sets a target of 145 g co2 / km , starting in 2025 , as average emissions for the new light commercial vehicles fleet , in accordance with article 12 .


### from 2014 until 2018 for excess emissions of more than 3 g co2 / km : × €120 + 45 € ) × number of new light commercial vehicles . ### from 2015 until 2019 for excess emissions of more than 3 g co2 / km : × €95 + 45 € ) × number of new light commercial vehicles .


### – subject to confirmation of its feasibility on the basis of updated impact assessment results , the modalities for reaching , by the year 2020 , a long - term target of 135 g co2 / km in a cost - effective manner ; and ### – the modalities for reaching a long - term target of 160 g co2 / km , starting in 2020 , in a cost - effective manner ; and


### in respect of the period 1 january 2014 and every calendar year thereafter , the commission shall impose an excess emissions premium on a manufacturer or pool manager , as appropriate , where a manufacturer ' s average specific emissions of co2 exceed its specific emissions target . ### in respect of the period 1 january 2015 and every calendar year thereafter , the commission shall impose an excess emissions premium on a manufacturer or pool manager , as appropriate , where a manufacturer ' s average specific emissions of co2 exceed its specific emissions target . the excess emissions premiums shall be similar to premiums paid in other sectors under the european emission trading scheme .


### from 2020 , this regulation sets a target of 135 g co2 / km for the average emissions of new light commercial vehicles registered in the community . ### from 2023 , this regulation sets a target of 135 g co2 / km for the average emissions of new light commercial vehicles registered in the community subject to confirmation of its feasibility , as specified in article 12


### – 75% in 2014 , – 80% in 2015 , – 100% from 2016 onwards . ### – 65% in 2015 , – 75% in 2016 , – 80% in 2017 , – 100% from 2018 onwards .


### from 2019 : × number of new light commercial vehicles . ### from 2020 : × number of new light commercial vehicles .


### the speed of road vehicles has a strong influence on their fuel consumption and co2 emissions . in addition , in the absence of speed limitation for light commercial vehicles , it is possible that there is an element of competition as regards top speed which could lead to oversized powertrains and associated inefficiencies in slower operating conditions . it is therefore appropriate to investigate the feasibility of extending the scope of council directive 92 / 6 / eec on the installation and use of speed limitation devices for certain categories of motor vehicles in the community , with the aim of including light commercial vehicles covered in this regulation . ### the speed of road vehicles has a strong influence on their fuel consumption and co2 emissions . in addition , in the absence of speed limitation for light commercial vehicles , it is possible that there is an element of competition as regards top speed which could lead to oversized powertrains and associated inefficiencies in slower operating conditions . it is therefore appropriate to extend the scope of council directive 92 / 6 / eec on the installation and use of speed limitation devices for certain categories of motor vehicles in the community , with the aim of including light commercial vehicles covered in this regulation .


### in the interests of clarity , the maps relating to the 10 member states listed in the 2003 act of accession in annex i to the decision should be added to the existing maps relating to the 15 countries that were members of the european union before the enlargement of 1 may 2004 , and the 2010 target date for the plan should be replaced by 2020 . this amendment was provided for in article 1 of decision no 884 / 2004 / ec and it must be made . ### in the interests of clarity , annex i of decision no 1692 / 96 / ec should be replaced with a new annex containing the maps concerning all of the member states ; this would ensure that the maps already contained in that decision as last amended by regulation no 1791 / 2006 are supplemented by those contained in the 2003 act of accession . moreover the target date for the plan is 2020 for all of the member states .


### at esma ' s request , the commission may by decision impose on a credit rating agency a fine where , intentionally or negligently , the credit rating agency has committed one of the breaches listed in annex iii . ### in the event that a credit rating agency has , intentionally or negligently , committed one of the breaches listed in annex iii , the european supervisory authority shall adopt a decision imposing a fine in accordance with paragraph 2 .


### esma shall publish on its website a list of credit rating agencies registered in accordance with this regulation . that list shall be updated within 5 working days following the adoption of a decision under articles 16 , 17 or 20 . ### the european supervisory authority shall publish on its website a list of credit rating agencies registered in accordance with this regulation . that list shall be updated within five working days of the adoption of a decision under article 16 , 17 or 20 . the commission shall publish that list in the official journal of the european union and shall publish updated lists within 30 working days of the communication of a decision under article 16 , 17 or 20 .


### the scope of the european securities and markets authority ' s action should be clearly defined so that financial market participants can identify the authority competent in the field of activity of credit rating agencies . the european securities and markets authority should assume general competence in matters relating to the registration and on - going supervision of registered credit rating agencies . ### the scope of the european securities and markets authority ' s competences should be clearly defined so that financial market participants can identify the authority competent in the field of activity of credit rating agencies . the european supervisory authority should be exclusively responsible for the registration and on - going supervision of registered credit rating agencies .


### the competent authorities and colleges referred to in paragraph 1 shall ensure that any existing records and working papers shall be transferred to esma [ one month after the entry into force of this regulation ] . those competent authorities and colleges shall also render all necessary assistance and advice to esma to facilitate effective and efficient transfer and taking up of supervisory and enforcement activity in the field of credit rating agencies . ### the competent authorities and colleges referred to in paragraph 1 shall ensure that any existing records and working papers shall be transferred to the european supervisory authority on . . . * and in any event within one month thereof . those competent authorities and colleges shall also render all necessary assistance and advice to the european supervisory authority to facilitate effective and efficient transfer and taking up of supervisory and enforcement activity in the field of credit rating agencies . * oj please insert date of entry into force of this regulation .


### in order to reinforce competition between credit rating agencies , to help avoiding possible conflicts of interest under the issuer - pays model , which are particularly virulent regarding the rating of structured finance instruments , and to enhance transparency and the quality of ratings for structured finance instruments , registered or certified credit rating agencies should have the right to access a list of structured finance instruments that are being rated by their competitors . the information for this rating should be provided by the issuer or a related third party for the purpose of the issuance of unsolicited competing ratings on structured finance instruments . the issuance of such unsolicited ratings should promote the use of more than one rating per structured finance instrument . access to the websites should only be granted if a credit rating agency is able to ensure the confidentiality of the requested information . ### in order to reinforce competition between credit rating agencies , to help avoid possible conflicts of interest under the issuer - pays model , which are particularly virulent regarding the rating of structured finance instruments , and to enhance transparency and the quality of ratings for structured finance instruments , registered or certified credit rating agencies should be able to access information on structured finance instruments that are being rated by their appointed competitors in order to be in a position to provide unsolicited ratings . the issuance of such unsolicited ratings should promote the use of more than one rating per structured finance instrument . access to the websites should be granted only if a credit rating agency is able to ensure the confidentiality of the requested information .


### the competent authorities and colleges referred to in paragraph 1 shall ensure that any existing records and working papers shall be transferred to esma [ one month after the entry into force of this regulation ] . those competent authorities and colleges shall also render all necessary assistance and advice to esma to facilitate effective and efficient transfer and taking up of supervisory and enforcement activity in the field of credit rating agencies . ### the competent authorities and colleges referred to in paragraph 1 shall ensure that any existing records and working papers shall be transferred to the european supervisory authority on …* . . those competent authorities and colleges shall also render all necessary assistance and advice to the european supervisory authority to facilitate effective and efficient transfer and taking up of supervisory and enforcement activity in the field of credit rating agencies . * oj please insert date : six months after the entry into force of this regulation .


### the scope of the european securities and markets authority ' s action should be clearly defined so that financial market participants can identify the authority competent in the field of activity of credit rating agencies . the european securities and markets authority should assume general competence in matters relating to the registration and on - going supervision of registered credit rating agencies . ### the scope of the action of the european supervisory authority should be clearly defined so that financial market participants can identify the authority competent in the field of activity of credit rating agencies . the european supervisory authority should be exclusively competent in matters relating to the registration and on - going supervision of registered credit rating agencies .


### fostering employment and developing human capital ; ### combating unemployment , fostering employment and developing human capital ;


### since some member states have already put in place restrictions on short selling and since delegated acts and binding technical standards are provided for which should be adopted before the framework to be introduced can be usefully applied , it is necessary to provide for a sufficient period of time . ### since only some member states have already put in place restrictions on short selling , union - wide regulation should come into effect as soon as possible . this is also required because of the remaining high instability of the market and problems surrounding sovereign credit default swaps . the stabilisation envisaged by such union - wide regulation is therefore a matter of great urgency for the union as a whole .


### a trading venue that has shares admitted to trading shall establish procedures that ensure that natural or legal persons executing orders on the trading venue mark sell orders as short orders if the seller is entering into a short sale of the share . the trading venue shall publish at least daily a summary of the volume of orders marked as short orders . ### a trading venue that has shares admitted to trading or an investment firm which executes orders on behalf of clients in those instruments outside a trading venue shall establish procedures that ensure that natural or legal persons executing orders on the trading venue or through the investment firm are in a position to mark sell orders as short orders if the seller is entering into a short sale of the share .


### a natural or legal person may only enter into a short sale of a share admitted to trading on a trading venue or a short sale of a sovereign debt instrument where one of the following conditions is fulfilled : ### a natural or legal person may only enter into a short sale when one of the following conditions is fulfilled :


### fishing authorisations referred to in article 4 for vessels using bottom trawls or bottom - set gillnets shall expire at the latest two years after the entry into force of this regulation . after that date , fishing authorisations targeting deep - sea species with those gears shall neither be issued nor renewed . ### fishing authorisations for vessels using bottom trawls or bottom - set gillnets below 400 metres shall expire at the latest two years after the entry into force of this regulation . after that date , fishing authorisations allowing fishing operations below 400 meters with those gears shall neither be issued nor renewed .


### bottom - set gillnets are currently restricted in entering deep - sea fisheries by council regulation no 1288 / 2009 establishing transitional technical measures from 1 january 2010 to 30 june 2011 . in view of the high rates of undesired catch when they were deployed unsustainably in deep waters , and in view of the ecological impact of lost and abandoned gear , this gear should also be permanently prohibited from the targeting of deep - sea species . ### bottom - set gillnets are currently restricted in entering deep - sea fisheries by council regulation no 1288 / 2009 establishing transitional technical measures from 1 january 2010 to 30 june 2011 . in view of the high rates of undesired catch when they were deployed unsustainably in deep waters , and in view of the ecological impact of lost and abandoned gear , this gear should only be used if guarantees can be provided as to the sustainability of fishing , in accordance with the provisions of this regulation .


### vessels targeting deep - sea species with other bottom gear should not extend their range of operation according to their authorisation within union waters , unless expansion can be assessed as not carrying a significant risk of negative impact on vulnerable marine ecosystems . ### vessels targeting deep - sea species with other bottom gear should not extend the range of operation specified in their authorisation within union waters , unless , following an assessment in accordance with the 2008 fao international guidelines for the management of deep - sea fisheries in the high seas , the extension is proven not to carry a significant risk of negative impact on vulnerable marine ecosystems .


### by way of derogation of article 17 of regulation no 1224 / 2009 , the masters of all union fishing vessels intending to land 100 kg or more of deep - sea species , whichever their length , shall be required to notify their flag member state ' s competent authority of that intention . ### by way of derogation of article 17 of regulation no 1224 / 2009 , the masters of all union fishing vessels intending to land 100 kg or more of deep - sea species , whichever their length , shall be required to notify their flag member state ' s competent authority of that intention . nevertheless , small vessels without an electronic fishing logbook and artisanal vessels shall be exempt from the notification requirement .


### fishing authorisations referred to in article 4 for vessels using bottom trawls or bottom - set gillnets shall expire at the latest two years after the entry into force of this regulation . after that date , fishing authorisations targeting deep - sea species with those gears shall neither be issued nor renewed . ### fishing authorisations for vessels using bottom trawls or bottom - set gillnets bellow 200 meters shall expire at the latest two years after the entry into force of this regulation . after that date , fishing authorisations targeting deep - sea species with those gears shall neither be issued nor renewed .


### in addition to the requirements set out in article 6 , each application for a fishing authorisation for targeted deep sea fisheries , as referred to in article 4 , that allows the use of bottom gears in union waters as referred to in article 2 , shall be accompanied by a detailed fishing plan specifying : ### in addition to the requirements set out in article 6 , each application for a fishing authorisation for targeted deep sea fisheries , as referred to in article 4 , that allows the use of bottom gears in union waters as referred to in article 2 , shall be accompanied by a detailed fishing plan specifying , in addition to the fishing gears and technical measures to be used :


### any fishing authorisation issued on the basis of an application made in accordance with paragraph 1 shall specify the bottom gear to be used and limit the fishing activities authorised to the area in which the intended fishing activity , as set out in paragraph 1 , and the existing fishing activity , as set out in paragraph 1 , overlap . however , the area of the intended fishing activity can be extended beyond the area of the existing fishing activity if the member state has assessed and documented , based on scientific advice , that such extension would not have significant adverse impacts on vulnerable marine ecosystems . ### any fishing authorisation issued on the basis of an application made in accordance with paragraph 1 shall specify the bottom gear to be used and limit the fishing activities authorised to the ices and cecaf area , subarea , division and subdivision in which the intended fishing activity , as set out in paragraph 1 , and the existing fishing activity , as set out in paragraph 1 , overlap . however , the area of the intended fishing activity can be extended beyond the ices and cecaf area , subarea , division and subdivision of the existing fishing activity if the member state has assessed and documented , based on scientific advice , that such extension would not have significant adverse impacts on vulnerable marine ecosystems .


### each application for a fishing authorisation allowing for the catch of deep - sea species whether as target or by - catch species , and for its renewal shall be accompanied by a description of the area where it is intended to conduct fishing activities , the type of gears , the depth range at which the activities will be deployed , and of the individual species targeted . ### each application for a fishing authorisation allowing for the catch of deep - sea species whether as target or by - catch species , and for its renewal shall be accompanied by a description of the area where it is intended to conduct fishing activities , indicating all the ices and cecaf subareas , divisions and subdivisions covered , the type of gears , the depth range at which the activities will be deployed , and of the individual species targeted .


### vessels targeting deep - sea species with other bottom gear should not extend their range of operation according to their authorisation within union waters , unless expansion can be assessed as not carrying a significant risk of negative impact on vulnerable marine ecosystems . ### vessels fishing deep - sea species in a targeted or accessory manner with bottom gear should not extend their range of operation according to their fishing authorisation within union waters , unless expansion can be assessed as not carrying a significant risk of negative impact on vulnerable marine ecosystems . similarly , wherever their area of activity may be , when finding indices of the presence of vulnerable marine ecosystems , they should avoid these locations in the future , pending whether these indices reflect a proved presence of vulnerable marine ecosystems .


### each application for a fishing authorisation allowing for the catch of deep - sea species whether as target or by - catch species , and for its renewal shall be accompanied by a description of the area where it is intended to conduct fishing activities , the type of gears , the depth range at which the activities will be deployed , and of the individual species targeted . ### each application for a fishing authorisation allowing for the catch of deep - sea species whether as target or by - catch species , and for its annual renewal shall be accompanied by a description of the area where it is intended to conduct fishing activities , the type and the quantity of gears , the depth range at which the activities will be deployed , the individual species targeted and the potential by - catch species , as well as the intended frequency and duration of the fishing activity . this information shall be made publicly available .


### the aggregate fishing capacity measured in gross tonnage and in kilowatt of all fishing vessels holding a fishing authorisation issued by a member state , allowing the catch of deep - sea species , whether as target or by - catch species , shall at no time exceed the aggregate fishing capacity of vessels of that member state which have landed 10 tonnes or more of deep - sea species during any of the two calendar years preceding the entry into force of this regulation , whichever year provides the higher figure . ### the aggregate fishing capacity of all fishing vessels holding a fishing authorisation issued by a member state , allowing the catch of deep - sea species , whether as target or by - catch species , shall at no time exceed the aggregate fishing capacity of vessels of that member state which have landed 10 tonnes or more of deep - sea species during 2009 - 2011


### ‘ maximum sustainable yield’ means the maximum catch that may be taken from a fish stock indefinitely . ### ‘ maximum sustainable yield’ means the highest theoretical equilibrium yield that can be continuously taken on average from a stock under average environmental conditions without affecting significantly the reproduction process ;


### special fishing authorisations issued in accordance with regulation no 2347 / 2002 shall remain valid until their replacement by fishing authorisations allowing the catch of deep - sea species issued in accordance with this regulation , but shall in any case no longer be valid after 30 september 2012 . ### special fishing authorisations issued in accordance with regulation no 2347 / 2002 shall remain valid until their replacement by fishing authorisations allowing the catch of deep - sea species issued in accordance with this regulation , but shall in any case no longer be valid after 30 september 2014 .


### fishing authorisations referred to in article 4 for vessels using bottom trawls or bottom - set gillnets shall expire at the latest two years after the entry into force of this regulation . after that date , fishing authorisations targeting deep - sea species with those gears shall neither be issued nor renewed . ### fishing authorisations referred to in article 4 for vessels using bottom trawls or bottom - set gillnets shall expire at the latest two years after the entry into force of this regulation . after that date , fishing authorisations may be issued or renewed only after a case - by case evaluation has been made , based on the best scientific information available and an assessment of the impact on traditional fleets fishing for these resources .


### notwithstanding paragraphs 1 and 3 , fishing vessels may catch , retain on board , tranship or land any quantity of deep - sea species without a fishing authorisation , if that quantity is below a threshold set at 100 kg of any mixture of deep - sea species per fishing trip . ### notwithstanding paragraphs 1 and 3 , fishing vessels may catch , retain on board , tranship or land any quantity of deep - sea species without a fishing authorisation , if the vessel is a small - scale artisanal coastal vessel , or if that quantity is below a threshold set at 100 kg of any mixture of deep - sea species per fishing trip .


### notwithstanding paragraphs 1 and 3 , fishing vessels may catch , retain on board , tranship or land any quantity of deep - sea species without a fishing authorisation , if that quantity is below a threshold set at 100 kg of any mixture of deep - sea species per fishing trip . ### notwithstanding paragraphs 1 and 3 , fishing vessels may catch , retain on board , tranship or land any quantity of deep - sea species without a fishing authorisation , if that quantity is below a threshold set at 100 kg of any mixture of deep - sea species per fishing trip . details of all such catches , including species composition , weight and sizes , shall be recorded in the vessel ' s logbook and reported to the competent authorities .


### where the best scientific information available does not identify exploitation rates corresponding to the precautionary approach to fisheries management due to lack of sufficient data concerning a certain stock or species , no fishing opportunities may be allocated for the fisheries concerned . ### where the best scientific information available does not identify exploitation rates corresponding to the precautionary approach to fisheries management due to lack of sufficient data concerning a certain stock or species , the fishing opportunities for the relevant fishing management period may not be fixed higher than the rates provided within the ices approach for data limited stocks .


### deep - sea fishing with bottom trawls carry the highest risk for vulnerable marine ecosystems among the different gears used and reports the highest rates of undesired catch of deep - sea species . bottom trawls should therefore be permanently prohibited from the targeting of deep - sea species . ### deep - sea fishing with bottom trawls carries the highest risk for vulnerable marine ecosystems among the different gears used .


### scientific advice further indicates that fishing effort limits are an appropriate instrument for fixing fishing opportunities for deep - sea fisheries . in view of the large variety of gears and fishing patterns present in deep - sea fisheries , and the need to develop accompanying measures tackling the environmentally weak points of the fisheries individually , fishing effort limits should only replace catch limits when it can be ensured that they are adapted to specific fisheries . ### the vulnerability of deep - sea species to exploitation makes it necessary to implement complementary management measures . wherever possible , catch limits should be combined with effort limits which reduce impacts on non - target species and vulnerable marine ecosystems .


### moreover , vessels which have to change gear in order to be able to stay in the fishery should be eligible for receiving financial assistance from the european fisheries fund provided that the new gear reduces the impact of fishing on non - commercial species and provided also that the national operational programme allows contributing to such measures . ### moreover , vessels which opt to change gear should be eligible for receiving financial assistance from the european fisheries fund provided that the new gear reduces the impact of fishing on non - commercial species and provided also that the national operational programme allows contributing to such measures .


### the specific deep - sea m&#233 ; tier to which the fishing effort limit applies by reference to the regulated gear , the species targeted and the ices zones or cecaf areas within which the allowed effort may be deployed ; and ### the specific deep - sea m&#233 ; tier to which the fishing effort limit applies by reference to the regulated type and amount of gear , the species targeted , the depth , and the ices zones or cecaf areas within which the allowed effort may be deployed ;


### the council , acting in accordance with the treaty , may decide to switch from the fixing of annual fishing opportunities for deep - sea species in terms of both fishing effort limits and catch limits to the fixing of only fishing effort limits for specific fisheries . ### the switching from the fixing of annual fishing opportunities for deep - sea species in terms of both fishing effort limits and catch limits to the fixing of only fishing effort limits for specific fisheries shall be decided in accordance with the treaty .


### fishing activities not targeting deep - sea species but catching deep - sea species as a by - catch , carried out by a union fishing vessel , shall be subject to a fishing authorisation , which shall indicate deep - sea species as by - catch . ### fishing activities carried out in union waters not targeting deep - sea species but catching deep - sea species as a by - catch , shall be subject to a fishing authorisation , which shall indicate deep - sea species as by - catch .


### in addition to the requirements set out in article 6 , each application for a fishing authorisation for targeted deep sea fisheries , as referred to in article 4 , that allows the use of bottom gears in union waters as referred to in article 2 , shall be accompanied by a detailed fishing plan specifying : ### in addition to the requirements set out in article 6 , each application for an authorisation for fishing deep - water stocks that allows for the use of bottom gears in union waters as defined in article 2 , or in waters under neafc jurisdiction as referred to in article 2 , shall :


### where annual fishing effort limits have replaced catch limits in accordance with article 11 , member states shall maintain or put in place , in respect of their flagged vessels the following accompanying measures : ### member states shall maintain or put in place , in respect of their flagged vessels the following accompanying measures :


### any fishing authorisation issued on the basis of an application made in accordance with paragraph 1 shall specify the bottom gear to be used and limit the fishing activities authorised to the area in which the intended fishing activity , as set out in paragraph 1 , and the existing fishing activity , as set out in paragraph 1 , overlap . however , the area of the intended fishing activity can be extended beyond the area of the existing fishing activity if the member state has assessed and documented , based on scientific advice , that such extension would not have significant adverse impacts on vulnerable marine ecosystems . ### any fishing authorisation issued on the basis of an application made in accordance with paragraph 1 shall specify the characteristics , type and dimensions of the bottom gear to be used and limit the fishing activities authorised to the area in which the intended fishing activity , as set out in paragraph 1 , and the existing fishing activity , as set out in paragraph 1 , overlap . however , the area of the intended fishing activity can be extended beyond the area of the existing fishing activity if the member state has assessed and documented , based on best available scientific advice , that such extension would not have significant adverse impacts on vulnerable marine ecosystems . this assessment shall be conducted in accordance with annex iia and the 2008 fao international guidelines for the management of deep - sea fisheries in the high seas and shall be made publicly available .


### any fishing authorisation issued on the basis of an application made in accordance with paragraph 1 shall specify the bottom gear to be used and limit the fishing activities authorised to the area in which the intended fishing activity , as set out in paragraph 1 , and the existing fishing activity , as set out in paragraph 1 , overlap . however , the area of the intended fishing activity can be extended beyond the area of the existing fishing activity if the member state has assessed and documented , based on scientific advice , that such extension would not have significant adverse impacts on vulnerable marine ecosystems . ### any fishing authorisation issued on the basis of an application made in accordance with paragraph 1 shall specify the bottom gear to be used and limit the fishing activities authorised to the ices and cecaf area , subarea , division and subdivision in which the intended fishing activity , as set out in paragraph 1 , and the existing fishing activity , as set out in paragraph 1 , overlap . however , the area of the intended fishing activity can be extended beyond the ices and cecaf area , subarea , division and subdivision of the existing fishing activity if the member state has assessed and documented , based on scientific advice , that such extension would not have significant adverse impacts on vulnerable marine ecosystems .


### scientific advice concerning certain fish stocks found in the deep - sea indicates that these stocks are particularly vulnerable to exploitation , and that fishing for these stocks should be limited or reduced as a precautionary measure . fishing opportunities for deep - sea stocks should not go beyond those levels which are scientifically advised as precautionary . in the case of advice being absent for lack of sufficient information about stocks or species , no fishing opportunities should be allocated . ### scientific advice concerning certain fish stocks found in the deep - sea indicates that these stocks are particularly vulnerable to exploitation , and that fishing for these stocks should be limited or reduced as a precautionary measure . fishing opportunities for deep - sea stocks should not go beyond those levels which are scientifically advised as precautionary . in the case of advice being absent for lack of sufficient information about stocks or species , fishing opportunities may only be allocated in accordance with the precautionary principle , based on the best available information .


### the master of a vessel , or any other person responsible for the vessel ' s operation , shall be required to take on board the scientific observer whom the member state has assigned for his vessel , unless this is not possible for security reasons . the master shall facilitate the discharging of the scientific observer ' s tasks . ### the master of a vessel , or any other person responsible for the vessel ' s operation , shall be required to take on board the scientific observer whom the member state has assigned for their vessel , in accordance with the conditions specified in paragraph 3 . the master shall facilitate the discharging of the scientific observer ' s tasks .


### the locations of the intended activities targeting deep - sea species in the deep - sea m&#233 ; tier . the location shall be defined by coordinates in accordance with the world geodetic system of 1984 ; ### the locations of the intended activities targeting deep - sea species in the deep - sea m&#233 ; tier . the location shall be defined by coordinates in accordance with the world geodetic system of 1984 and shall include an indication of all the ices and cecaf subareas , divisions and subdivisions covered ;


### ' maximum sustainable yield ' means the maximum catch that may be taken from a fish stock indefinitely . ### ' maximum sustainable yield ' means the highest theoretical equilibrium yield that can be continuously taken on average from a stock under existing average environmental conditions without affecting significantly the reproduction process .


### the locations , if any , of activities in the deep - sea métier during the last three full calendar years . those location shall be defined by coordinates in accordance with the world geodetic system of 1984 and they shall circumscribe the fishing activities as closely as possible . ### limit the authorised fishing activities to existing fishing areas ;


### within six years from the entry into force of this regulation , the commission shall , on the basis of member states ' reports and scientific advice that it shall request to this effect , evaluate the impact of the measures laid down in this regulation and determine to what extent the objectives referred to in article 1 and have been achieved . ### within two years from the entry into force of this regulation , the commission shall , on the basis of member states ' reports and scientific advice that it shall request to this effect , evaluate the impact of the measures laid down in this regulation and determine to what extent the objectives referred to in article 1 and have been achieved .


### in addition to the requirements set out in article 6 , each application for a fishing authorisation for targeted deep sea fisheries , as referred to in article 4 , that allows the use of bottom gears in union waters as referred to in article 2 , shall be accompanied by a detailed fishing plan specifying : ### in addition to the requirements set out in article 6 , each application for a fishing authorisation for targeted deep sea fisheries , as referred to in article 4 , that allows the use of bottom gears in union waters as referred to in article 2 , shall be accompanied by a publicly available detailed fishing plan specifying :


### the commission shall assess the effectiveness of the accompanying measures adopted by member states upon their adoption . ### the commission shall assess the effectiveness of the accompanying measures adopted by member states upon their adoption and annually thereafter .


### deep - sea fishing with bottom trawls carry the highest risk for vulnerable marine ecosystems among the different gears used and reports the highest rates of undesired catch of deep - sea species . bottom trawls should therefore be permanently prohibited from the targeting of deep - sea species . ### deep - sea fishing with bottom trawls carries the highest risk for vulnerable marine ecosystems among the different gears used .


### the vessel ' s master records in the logbook a percentage of deep - sea species equal or superior to 10% of the overall catch weight in the fishing day concerned . ### the vessel ' s master records in the logbook a percentage of deep - sea species equal or superior to 15% . nb : this percentage should count as part of the annual amount and not as part of a given haul or fishing trip .


### fishing opportunities by means of fishing effort limits only ### fishing opportunities by means of catch limits and fishing effort limits


### measures to avoid an increase in by - catches of most vulnerable species ; and ### measures to prevent , minimise and where possible eliminate by - catches , particularly by - catches of the most vulnerable species , including modifications to gear , or real - time closures of areas with high by - catch rates ; and


### any fishing authorisation issued on the basis of an application made in accordance with paragraph 1 shall specify the bottom gear to be used and limit the fishing activities authorised to the area in which the intended fishing activity , as set out in paragraph 1 , and the existing fishing activity , as set out in paragraph 1 , overlap . however , the area of the intended fishing activity can be extended beyond the area of the existing fishing activity if the member state has assessed and documented , based on scientific advice , that such extension would not have significant adverse impacts on vulnerable marine ecosystems . ### without prejudice to article 7 , fishing activities that are to take place in waters defined in paragraph 1 but that are defined as new fishing areas in the meaning of article 3 paragraph 2b shall be subject to a fishing authorisation . applications for such authorisations shall include a detailed project for the exploratory fishing activity that follows the neafc guidelines outlined in annex iia . applications will be accepted if it can be shown that the activity described will have no harmful effects on vulnerable marine ecosystems .


### the council , acting in accordance with the treaty , may decide to switch from the fixing of annual fishing opportunities for deep - sea species in terms of both fishing effort limits and catch limits to the fixing of only fishing effort limits for specific fisheries . ### the switching from the fixing of annual fishing opportunities for deep - sea species in terms of both fishing effort limits and catch limits to the fixing of only fishing effort limits for specific fisheries shall be decided in accordance with the treaty .


### by way of derogation of article 17 of regulation no 1224 / 2009 , the masters of all union fishing vessels intending to land 100 kg or more of deep - sea species , whichever their length , shall be required to notify their flag member state ' s competent authority of that intention . ### the masters of all union fishing vessels , regardless of their length , intending to land or tranship100 kg or more of deep - sea species , shall be required to notify the competent authority of their flag member state , as well as the port state authority , of that intention . the master or any other person responsible for the operation of vessels of 12 meters in length or more shall notify the competent authorities at least four hours before the estimated time of arrival at port , in accordance with article 17 of regulation no 1224 / 2009 .


### where the best scientific information available does not identify exploitation rates corresponding to the precautionary approach to fisheries management due to lack of sufficient data concerning a certain stock or species , no fishing opportunities may be allocated for the fisheries concerned . ### where the best scientific information available does not identify exploitation rates corresponding to the precautionary approach to fisheries management due to lack of sufficient data concerning a certain stock or species , the fishing opportunities for the relevant fishing management period may not be fixed higher than the rates provided within the ices approach for data limited stocks .


### conditions for effective discard prevention . those conditions shall aim at landing all fish taken on board , unless this would be contrary to the rules in force under the common fisheries policy . ### conditions for effective discard prevention . those conditions shall require all fish taken on board to be landed , unless this would be contrary to the rules in force under the common fisheries policy or if the species have a proven high long - term survival rate after discarding ;


### moreover , vessels which have to change gear in order to be able to stay in the fishery should be eligible for receiving financial assistance from the european fisheries fund provided that the new gear reduces the impact of fishing on non - commercial species and provided also that the national operational programme allows contributing to such measures . ### moreover , vessels which wish to change gear should be eligible for receiving financial assistance from the european fisheries fund provided that the new gear reduces the impact of fishing on non - commercial species and provided also that the national operational programme allows contributing to such measures .


### another factor which affects competitiveness is the relatively weak entrepreneurial spirit in the union . only 45% of the union citizens would like to be self - employed as compared to 55% of the population in the united states and 71% in china . demonstration and catalytic effects , for example european awards and conferences , as well as coherence and consistency enhancing measures such as benchmarking and exchanges of best practices provide a high european added value . ### another factor which affects competitiveness is the relatively weak entrepreneurial spirit in the union which needs to be inspired with innovative and different approaches addressing specific target groups , especially young people and women . only 45% of the union citizens would like to be self - employed as compared to 55% of the population in the united states and 71% in china . demonstration and catalytic effects , for example european awards and entrepreneurship conferences , projects , workshops and mentoring programmes , as well as coherence and consistency enhancing measures such as benchmarking and exchanges of best practices provide a high european added value . confronting contextual obstacles , traditional views and stereotypes about women , and raising the credibility of women as entrepreneurs is especially vital in inspiring women into entrepreneurships , in retaining their careers as entrepreneurs , and in raising their profile as role models .


### the power to adopt delegated acts referred to in articles 4 and 6 shall be conferred on the commission for an indeterminate period of time from . . ### the power to adopt delegated acts referred to in article 4 shall be conferred on the commission for a period of five years from . . the commission shall draw up a report in respect of the delegation of power not later than nine months before the end of the five - year period . the delegation of power shall be tacitly extended for periods of an identical duration unless the european parliament or the council opposes such extension not later than three months before the end of each period .


### the delegation of power referred to in articles 4 and 6 may be revoked at any time by the european parliament or by the council . a decision to revoke shall put an end to the delegation of the power specified in that decision . it shall take effect the day following the publication in the official journal of the european union or at a later date specified therein . it shall not affect the validity of the delegated acts already in force . ### the delegation of power referred to in article 4 may be revoked at any time by the european parliament or by the council . a decision to revoke shall put an end to the delegation of the power specified in that decision . it shall take effect the day following the publication of the decision in the official journal of the european union or at a later date specified therein . it shall not affect the validity of any delegated acts already in force .


### the amount of the grant shall not become final until after the authorising officer responsible has accepted the final reports and accounts , without prejudice to subsequent checks by the institution . ### the amount of the grant shall not become final until after the competent authorising officer by delegation has accepted the final reports and accounts , without prejudice to subsequent checks by the institution , which shall be carried out in a timely manner .


### the commission may implement financial instruments in direct management mode , or in indirect management mode by entrusting tasks to the entities referred to in points and of article 55 . ### the commission may implement financial instruments in direct management mode , or in indirect management mode by entrusting tasks to the entities referred to in points , and of article 55 . the statute and nature of the operator to which the management is entrusted should be defined in the basic act .


### each agreement between an entity referred to in point and of article 55 and a financial intermediary referred to in paragraph 3 shall provide expressly for the commission and the court of auditors to exercise their powers of control , on documents and on the premises and on information , even stored on electronic media , over all third parties who have received union funds . ### each agreement between an entity referred to in point and of article 55 and a financial intermediary referred to in paragraph 3 shall provide expressly access of the commission and the court of auditors to documents , premises and to any requested information , related to the implementation of the financial instruments , even stored on electronic media , that should be provided by all third parties who have received union funds .


### in accordance with the sector - specific rules , member states shall accredit one or more public sector bodies which shall be solely responsible for the proper management and control of the funds , for which accreditation has been granted . this shall be without prejudice to the possibility for these bodies to carry out tasks not related to the management of union funds or to entrust certain of their tasks to other bodies . the accreditation shall be given by a member state authority in accordance with sector - specific rules ensuring that the body is capable of properly managing the funds . the sector - specific rules may also define a role of the commission in the accreditation process . the accrediting authority shall be responsible for supervising the body and for taking all necessary measures to remedy any deficiency in its operation , including the suspension and withdrawal of the accreditation . ### in accordance with criteria and procedures laid down in sector - specific rules , a member state authority shall accredit bodies responsible for the management and internal control of union funds . this shall be without prejudice to the possibility for these bodies to carry out tasks not related to the management of union funds or to entrust certain of their tasks to other bodies . the role of the commission in the accreditation process shall be defined in sector - specific rules taking account of the risk in the policy area concerned . nevertheless , the commission may appraise the systems set up in the member states on application by a member state or on its own risk assessment ;


### bodies accredited pursuant to paragraph 3 of this article shall provide the commission by 1 february of the following financial year with : their accounts drawn up for the expenditure made in the execution of the tasks entrusted ; a summary of the results of all available audits and controls carried out , including an analysis of systematic or recurrent weaknesses as well as corrective actions taken or planned ; a management declaration of assurance as to the completeness , accuracy and veracity of the accounts , the proper functioning of the internal control systems as well as to the legality and regularity of the underlying transactions and the respect of the principle of sound financial management ; the opinion of an independent audit body on the management declaration of assurance mentioned in point of this paragraph , covering all its elements . if a member state has accredited more than one body per policy area , it shall by 15 february of the following financial year provide the commission with a synthesis report consisting of an overview at national level of all management declarations of assurance and the independent audit opinions thereon , prepared for the policy area concerned . ### in accordance with their function , bodies accredited pursuant to paragraph 3 of this article shall provide the commission by 1 march of the following financial year with : their annual accounts drawn up for the expenditure made in the execution of the tasks entrusted and presented to the commission for reimbursement including the balance received from the commission for which reimbursement has not yet been requested and sums disbursed to the beneficiaries for which recovery procedures are underway ; a summary of the results of available audits and checks carried out , including an analysis of systemic or recurrent weaknesses as well as corrective actions taken or planned and their results ; a management declaration providing reasonable assurance that : the information contained in the accounts presents a true and fair view ; the expenditure referred in the accounts has been used for its intended purpose and in accordance with the principle of sound financial management ; the control procedures put in place give the necessary guarantees concerning the legality and regularity of the underlying transactions . an annex to the declaration shall present the error rate per funds and an analysis of the errors as well as reservations , if the error rate exceeds 2% ; these documents shall be accompanied by an opinion of an independent audit body , drawn up in accordance with the internationally accepted audit standards , on the completeness , accuracy and veracity of the accounts , on the proper functioning of the control procedures put in place as well as on the legality and regularity of the underlying transactions . the audit body shall report if the examination puts in doubt the assertions made in the management declaration . the member states shall indicate replacements of the person providing the management declaration to the commission ' s competent authorising officer by delegation who shall display these changes in his annual activity report . member states shall , at the appropriate level , publish this information no later than 6 months after having provided the commission with these documents . if a member state has accredited more than one body with responsibility for ex ante and ex post verifications per policy area , it shall by 15 march of the following financial year provide the commission with a synthesis report consisting of an overview at national level of all management declarations of assurance and the corresponding independent audit opinions , prepared for the policy area concerned .


### in the performance of its task , the court of auditors shall be entitled to consult , in the manner provided for in article 152 , all documents and information relating to the financial management of departments or bodies with regard to operations financed or co - financed by the union . it shall have the power to make enquiries of any official responsible for a revenue or expenditure operation and to use any of the auditing procedures appropriate to the aforementioned departments or bodies . the audit in the member states shall be carried out in conjunction with the national audit institutions or , where they do not have the necessary powers , with the national departments responsible . the court of auditors and the national audit bodies of the member states shall cooperate in a spirit of trust while maintaining their independence . ### in the performance of its task , the court of auditors shall be entitled to consult , in the manner provided for in article 152 , all documents and information relating to the financial management of departments or bodies with regard to operations financed or co - financed by the union . it shall have the power to make enquiries of any official responsible for a revenue or expenditure operation and to use any of the auditing procedures appropriate to the aforementioned departments or bodies . the audit in the member states shall be carried out in liaison with the national audit institutions or , where they do not have the necessary powers , with the competent national departments . the court of auditors and the national audit institutions of the member states shall cooperate in a spirit of trust while maintaining their independence .


### in respect of any measure which may give rise to expenditure chargeable to the budget , the authorising officer responsible must first make a budgetary commitment before entering into a legal obligation with third parties or transferring funds to a trust fund on the basis of article 178 . ### notwithstanding article 82 , in respect of any measure which may give rise to expenditure chargeable to the budget , the authorising officer responsible must first make a budgetary commitment before entering into a legal obligation with third parties or transferring funds to a trust fund on the basis of article 178 . however , in case of humanitarian aid operations , civil protection operations and crisis management aid , provided that it is indispensable for the efficient delivery of the union ' s intervention to enter into a legal commitment with third parties immediately without being possible to make a prior booking of the individual budgetary commitment , the latter may be booked without delay after entering into a legal obligation with third parties .


### article 125 the authorising officer responsible may , if he deems it appropriate and proportionate , require the beneficiary to lodge a guarantee in advance in order to limit the financial risks connected with the payment of pre - financing . ### article 125 the authorising officer responsible may , if he deems it appropriate and proportionate on a case - by - case basis and subject to risk analysis , require the beneficiary to lodge a guarantee in advance in order to limit the financial risks connected with the payment of pre - financing . guarantees shall not be required in the case of low and very low value grants or where the beneficiary received at least one grant every year over the last five years .


### concerning provisions on proportionality , the notion of tolerable risk of error should be introduced as part of the risk assessment made by the authorising officer . the institutions should be able to move away from the general 2% materiality threshold used by the court of auditors to conclude on the legality and regularity of the underlying transactions . tolerable risk levels constitute more appropriate basis for the discharge authority to judge the quality of the management of risk by the commission . the european parliament and the council should therefore determine the level of tolerable risk of error per policy area , taking into account the costs and benefits of controls . ### concerning provisions on proportionality , the notion of tolerable risk of error , something that reduces both complexity and ex - post audits , ensuring a proper balance between sound financial management and appropriate controls , should be introduced as part of the risk assessment made by the authorising officer . the institutions should be able to move away from the general 2% materiality threshold used by the court of auditors to conclude on the legality and regularity of the underlying transactions . tolerable risk levels constitute more appropriate basis for the discharge authority to judge the quality of the management of risk by the commission . the european parliament and the council should therefore determine the level of tolerable risk of error per policy area , taking into account the costs and benefits of controls . it is crucial to ensure that the legally binding rules on tre are interpreted and applied in a uniform manner , leading to a decrease in the tre rate .


### financial instruments shall be provided to final recipients of union funds in accordance with sound financial management , transparency and equal treatment and in accordance with the objectives established in the basic act that applies to those financial instruments . ### financial instruments shall be provided to final recipients of union funds in accordance with the principles of sound financial management , transparency , proportionality , non - discrimination and equal treatment and in accordance with the objectives established in the basic act that applies to those financial instruments .


### bodies accredited pursuant to paragraph 3 of this article shall provide the commission by 1 february of the following financial year with : their accounts drawn up for the expenditure made in the execution of the tasks entrusted ; a summary of the results of all available audits and controls carried out , including an analysis of systematic or recurrent weaknesses as well as corrective actions taken or planned ; a management declaration of assurance as to the completeness , accuracy and veracity of the accounts , the proper functioning of the internal control systems as well as to the legality and regularity of the underlying transactions and the respect of the principle of sound financial management ; the opinion of an independent audit body on the management declaration of assurance mentioned in point of this paragraph , covering all its elements . if a member state has accredited more than one body per policy area , it shall by 15 february of the following financial year provide the commission with a synthesis report consisting of an overview at national level of all management declarations of assurance and the independent audit opinions thereon , prepared for the policy area concerned . ### if a member state has accredited more than one body with responsibility for ex ante and ex post verifications per policy area , it shall by 15 march of the following financial year provide the commission with a synthesis report consisting of an overview at national level of all management declarations of assurance and the corresponding independent audit opinions , prepared for the policy area concerned .


### article 125 the authorising officer responsible may , if he deems it appropriate and proportionate , require the beneficiary to lodge a guarantee in advance in order to limit the financial risks connected with the payment of pre - financing . ### article 125 the authorising officer responsible may , if he deems it appropriate and proportionate on a case - by - case basis and subject to risk analysis , require the beneficiary to lodge a guarantee in advance in order to limit the financial risks connected with the payment of pre - financing . guarantees shall not be required in the case of low value grants .


### without prejudice to points and of article 46 , the budgetary expenditure linked to a financial instrument shall be kept within the relevant budgetary commitment made for it . ### without prejudice to points and of article 46 , the budgetary expenditure linked to a financial instrument and the financial liability of the union shall not exceed the amount of the relevant budgetary commitment made for it , thus excluding contingent liabilities for the union budget .


### union funding should be designed to support exploratory work on actions which aim to promote the strategic objectives of the integrated maritime policy , including the integrated maritime governance at all levels , the further development and implementation of integrated sea - basin strategies tailored to the specific needs of europe’s different sea basins , the definition of the boundaries of sustainability of human activities in the framework of the marine strategy framework directive , which constitutes the environmental pillar of the integrated maritime policy , paying due attention to their cumulative impacts , on the basis of the ecosystem approach , the further involvement of stakeholders in integrated maritime governance schemes , the further development of cross - cutting tools for integrated policy - making , the promotion of the international dimension of the integrated maritime policy , and sustainable economic growth , employment , innovation and competitiveness . ### union funding should be designed to support exploratory work on actions which aim to promote the strategic objectives of the integrated maritime policy , including the integrated maritime governance at all levels , the further development and implementation of integrated sea - basin strategies tailored to the specific needs of europe’s different sea basins , coastal regions and islands , the definition of the boundaries of sustainability of human activities in the framework of the marine strategy framework directive , which constitutes the environmental pillar of the integrated maritime policy , paying due attention to their cumulative impacts , on the basis of the ecosystem approach , the further involvement of partners such as public authorities , economic and social partners and civil society actors in integrated multi - level maritime governance schemes , the further development of cross - cutting tools for integrated policy - making , the promotion of the international dimension of the integrated maritime policy , and sustainable economic growth , employment , innovation and competitiveness .


### union funding should be designed to support exploratory work on actions which aim to promote the strategic objectives of the integrated maritime policy , including the integrated maritime governance at all levels , the further development and implementation of integrated sea - basin strategies tailored to the specific needs of europe’s different sea basins , the definition of the boundaries of sustainability of human activities in the framework of the marine strategy framework directive , which constitutes the environmental pillar of the integrated maritime policy , paying due attention to their cumulative impacts , on the basis of the ecosystem approach , the further involvement of stakeholders in integrated maritime governance schemes , the further development of cross - cutting tools for integrated policy - making , the promotion of the international dimension of the integrated maritime policy , and sustainable economic growth , employment , innovation and competitiveness . ### union funding should be designed to support exploratory work on actions which aim to promote the strategic objectives of the integrated maritime policy , including integrated maritime governance at all levels , the further development and implementation of integrated sea - basin strategies tailored to the specific needs of europe’s different sea basins , the definition of the boundaries of sustainability of human activities in the framework of the marine strategy framework directive , which constitutes the environmental pillar of the integrated maritime policy , paying due attention to their cumulative impacts , on the basis of the ecosystem approach , the further involvement of local and regional stakeholders in integrated multi - level maritime governance schemes , the further development of cross - cutting tools for , and a cross - sectoral approach to , integrated policy - making to improve synergies and coordination between existing policies and instruments through maritime - related data and knowledge sharing , the promotion of the international dimension of the integrated maritime policy , and sustainable economic growth , employment , innovation and competitiveness .


### union funding should be designed to support exploratory work on actions which aim to promote the strategic objectives of the integrated maritime policy , including the integrated maritime governance at all levels , the further development and implementation of integrated sea - basin strategies tailored to the specific needs of europe’s different sea basins , the definition of the boundaries of sustainability of human activities in the framework of the marine strategy framework directive , which constitutes the environmental pillar of the integrated maritime policy , paying due attention to their cumulative impacts , on the basis of the ecosystem approach , the further involvement of stakeholders in integrated maritime governance schemes , the further development of cross - cutting tools for integrated policy - making , the promotion of the international dimension of the integrated maritime policy , and sustainable economic growth , employment , innovation and competitiveness . ### union funding should be designed to support exploratory work on actions which aim to promote the strategic objectives of the integrated maritime policy and territorial cohesion in this specific context , including integrated maritime governance at all levels , the further development and implementation of integrated sea - basin strategies tailored to the specific needs of europe’s different sea basins and coastal , island and outermost regions , the definition of the boundaries of sustainability of human activities in the framework of the marine strategy framework directive , which constitutes the environmental pillar of the integrated maritime policy , paying due attention to their cumulative impacts , on the basis of the ecosystem approach , the further involvement of local and regional stakeholders in integrated multi - level maritime governance schemes , the further development of cross - cutting tools for , and a cross - sectoral approach to , integrated policy - making to improve synergies and coordination between existing policies and instruments , the promotion of the international dimension of the integrated maritime policy , and sustainable economic growth , employment , innovation and competitiveness , with particular attention being paid to outermost regions .