Decision of the Standing Committee of the EFTA States No 4/2004/SC of  3 June 2004  establishing a Financial Mechanism Committee
Date: 2004-06-03
Institutions: Standing Committee of the EFTA States
Subjects: EEA Joint Committee, financial management, financing method

L 52/54

EN

Official Journal of the European Union

23.2.2006

EUROPEAN ECONOMIC AREA

STANDING COMMITTEE OF THE EFTA STATES

DECISION OF THE STANDING COMMITTEE OF THE EFTA STATES

No 4/2004/SC

of 3 June 2004

establishing a Financial Mechanism Committee

THE STANDING COMMITTEE OF THE EFTA STATES,

Having regard to the Agreement on the European Economic Area as adjusted by the Protocol adjusting the
Agreement on the European Economic Area (hereinafter referred to as the EEA Agreement),

Having regard to the Agreement on the participation of the Czech Republic, the Republic of Estonia, the
Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic
of Malta, the Republic of Poland, the Republic of Slovenia, and the Slovak Republic in the European
Economic Area (hereinafter referred to as the EEA Enlargement Agreement),

Having regard to Protocol 38a on the EEA Financial Mechanism inserted into the EEA Agreement by the
EEA Enlargement Agreement,

Having regard to the Agreement between the Kingdom of Norway and the European Community on a
Norwegian Financial Mechanism for the period 2004 to 2009,

Having regard to the Decision of the Standing Committee of the EFTA States No 4/2003/SC of 4 December
2003 establishing an EEA Financial Mechanism Interim Committee,

Having regard to the Decision of the Standing Committee of the EFTA States No 1/2004/SC of 5 February
2004 establishing an Office for the EEA Financial Mechanism and the Norwegian Financial Mechanism,

HAS DECIDED AS FOLLOWS:

A Financial Mechanism Committee (hereinafter referred to as the Committee) shall be established and
replace the EEA Financial Mechanism Interim Committee as soon as each EEA EFTA State has appointed
its members. The Committee shall manage the EEA Financial Mechanism.

Article 1

The Committee shall adopt
the EEA Financial
Mechanism and submit them to the Standing Committee for approval, as well as take all decisions
necessary for its proper functioning.

the rules and procedures for the implementation of

Article 2

The Office for the EEA Financial Mechanism and the Norwegian Financial Mechanism shall serve as a
secretariat to the EEA Financial Mechanism Committee.

Article 3

23.2.2006

EN

Official Journal of the European Union

L 52/55

Each EFTA State, party to the EEA Agreement, shall be represented on the Committee and have one vote.

Article 4

Article 5

Decisions by the Committee shall be taken by unanimous vote. Decisions shall be regarded as taken

1.
unanimously if no member casts a negative vote.

However, a decision to reject a grant shall be regarded as taken if at least one member votes for its

2.
rejection.

Other matters, on which the Committee does not agree unanimously, may be referred to the Standing

3.
Committee of the EFTA States.

Article 6

1.
On the basis of the principle of cost sharing, established by a decision of the Standing Committee, the
Financial Mechanism Committee shall, at the beginning of each financial year of the commitment period
(2004 to 2009), calculate the share of each annual tranche to be made available for commitment by each
EEA EFTA State to the EEA Financial Mechanism.

Calls for initial payments and subsequent replenishments shall be issued by the Director of the Office

2.
for the EEA Financial Mechanism and the Norwegian Financial Mechanism.

The Committee shall regularly report on its activities and on the operation of the EEA Financial Mechanism
to the Standing Committee of the EFTA States. The Committee shall annually submit a report to the
Standing Committee.

Article 7

The Committee shall adopt its own rules of procedure.

Article 8

Article 9

This Decision shall remain in force until all obligations of the EEA Financial Mechanism have been fulfilled.

This Decision shall take immediate effect.

Article 10

Article 11

This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of
the European Union.

Done at Brussels, 3 June 2004.

For the Standing Committee

The Chairman

HSH Prinz Nikolaus von LIECHTENSTEIN

The Secretary-General

William ROSSIER