70.

The following Articles 160a to 160f are inserted: ‘Article 160a Subscriptions (Article 108 of the Financial Regulation) The subscriptions referred to in point (d) of Article 108(2) of the Financial Regulation shall be sums paid to bodies of which the Community is member, in accordance with the budgetary decisions and the conditions of payment established by the body concerned. Article 160b Participations (Article 108 of the Financial Regulation) For the purposes of Article 108(2) and (3) of the Financial Regulation, the following definitions shall apply: (a) “equity participation” means an ownership position in an organisation or venture taken through an investment, in which returns on the investment are dependent on the profitability of the organisation or venture; (b) “share holding” means an equity participation in the form of shares in an organisation or venture; (c) “equity investment” means the provision of capital to a firm by an investor in return for partial ownership of that firm where, in addition, this investor may assume some management control of the firm and may share in future profits; (d) “quasi-equity financing” means a type of financing that involves a mix of equity and debt, where the equity allows investors to achieve a high rate of return upon the success of the company or where the debt component entails a premium price contributing to the return of the investor; (e) “risk-bearing instrument” means a financial instrument which guarantees the total or partial coverage of a defined risk, if possible in exchange for an agreed remuneration. Article 160c Specific rules (Article 108(3) of the Financial Regulation) 1. Where grants as referred to in Article 108(3) of the Financial Regulation are awarded by the Commission under direct centralised management, they shall be subject to the provisions of this Title, with the exception of the following provisions: (a) the no-profit rule as referred to in Article 165 of this Regulation; (b) the co-financing requirement as referred to in Article 172 of this Regulation; (c) for actions where the objective is to reinforce the financial capacity of a beneficiary or to generate an income, the assessment of the financial viability of the applicant as referred to in Article 173(4) of this Regulation; (d) the requirement for an advance guarantee as referred to in Article 182 of this Regulation. The first subparagraph applies without prejudice to the accounting treatment of the grants concerned, which shall be determined by the accounting officer in accordance with international accounting standards. 2. In all cases where a financial contribution is made, the authorising officer responsible shall ensure that appropriate arrangements have been made with the recipient of the contribution defining the modalities for payment and control. Article 160d Prizes (Article 109(3)(b) of the Financial Regulation) For the purposes of point (b) of Article 109(3) of the Financial Regulation, prizes shall be the reward for an entry in a contest. They shall be awarded by a panel of judges who are free to decide whether or not to award prizes depending on their appraisal of the quality of the entries by reference to the rules of the contest. The amount of the prize shall not be linked to the costs incurred by the recipient. The rules of the contest shall lay down the award conditions and criteria and the amount of the prize. Article 160e Agreement and decision for grants (Article 108(1) of the Financial Regulation) 1. For each Community programme or action, the annual work programme shall determine whether grants shall be covered by a decision or by a written agreement. 2. To determine the instrument to be used, the following elements shall be taken into account: (a) equal treatment and non-discrimination between beneficiaries, in particular on the basis of nationality or geographical location; (b) coherence of that instrument with other instruments used within the same Community programme or action; (c) complexity and standardisation of the content of the actions or work programmes funded. 3. In the case of programmes managed by several authorising officers, the instrument to be used shall be determined in consultation between those authorising officers. Article 160f Expenditure on the members of the institutions (Article 108(2)(a) of the Financial Regulation ) Expenditure on the members of the institutions as referred to in Article 108(2)(a) of the Financial Regulation shall include contributions to associations of current and former members of the European Parliament. These contributions shall be implemented in accordance with the internal administrative rules of the European Parliament.’