Council Regulation (EC, Euratom) No 2273/2004 of 22 December 2004 amending Regulation (EC, Euratom) No 2728/94 establishing a Guarantee Fund for external actions
Date: 2004-12-22
Institutions: Council of the European Union
Subjects: Community loan, budgetary reserve (EU), credit guarantee, fund (EU), investment protection, third country

L 396/28

EN

Official Journal of the European Union

31.12.2004

COUNCIL REGULATION (EC, Euratom) No 2273/2004

of 22 December 2004

amending Regulation (EC, Euratom) No 2728/94 establishing a Guarantee Fund for external actions

THE COUNCIL OF THE EUROPEAN UNION,

(5)

Having regard to the Treaty
Community, and in particular Article 308 thereof,

establishing the European

Having regard to the Treaty establishing the European Atomic
Energy Community, and in particular Article 203 thereof,

(6)

Having regard to the proposal from the Commission,

Having regard to the Opinion of the European Parliament,

Having regard to the opinion of the Court of Auditors (1),

The report prepared by the Commission in accordance
with Article 9 of Council Regulation (EC, Euratom) No
2728/94 of 31 October 1994 establishing a Guarantee
Fund for external actions (2) concludes that
is not
necessary to amend any parameters of the Guarantee
Fund to take into account
the
European Union.

the enlargement of

it

In view of the amount of information needed for the
annual report required by Article 7 of Regulation (EC,
Euratom) No 2728/94 and the complexity of
the
procedures to be accomplished before submission of
the report, the time provided for its preparation should
be extended.

(7)

(8)

Regulation (EC, Euratom) No 2728/94 should therefore
be amended accordingly.

The Treaties provide for no powers, other than those in
Article 308 of the EC Treaty and Article 203 of the
Euratom Treaty, for the adoption of this Regulation,

Whereas:

HAS ADOPTED THIS REGULATION:

(1)

(2)

(3)

The accession of 10 new Member States took place on 1
May 2004.

Article 1

Regulation (EC, Euratom) No 2728/94 is hereby amended as
follows:

In addition, the possibility of further accessions should be
taken into account.

1. In Article 1, the following subparagraph shall be added:

The Communities have granted loans and guaranteed
loans to accession countries or for projects executed in
those countries. Those loans and guarantees are currently
remain
covered by the Guarantee
outstanding or
the date of accession.
From that date, they will cease to be external actions
of the Communities and should therefore be covered
directly by the general budget of the European Union
and no longer by the Guarantee Fund.

Fund and will

in force after

(4)

The European Investment Bank should inform the
Commission of the amount of its outstanding operations
under the Community guarantee in new Members States
on the day of accession.

‘All operations carried out for the benefit of a third country
or for the purpose of financing projects in a third country
shall fall outside the scope of this Regulation with effect
from the date on which that country accedes
to the
European Union.’;

2. The following Article shall be inserted:

‘Article 3a

Following the accession of a new Member State to the
European Union, the target amount shall be reduced by an
amount calculated on the basis of the operations referred to
in the third subparagraph of Article 1.

(1) OJ C 19, 23.1.2004, p. 3.

(2) OJ L 293, 12.11.1994, p. 1. Regulation as amended by Regulation

(EC, Euratom) No 1149/1999 (OJ L 139, 2.6.1999, p. 1).

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Official Journal of the European Union

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the
In order to calculate the amount of
percentage rate referred to in the second subparagraph of
Article 3 applicable on the date of accession shall be applied
to the amount of those operations outstanding on that date.

the reduction,

3. In Article 7, the date ‘31 March’ shall be replaced by ‘31

May’.

Article 2

The surplus shall be paid back to a special heading in the
statement of revenue in the general budget of the European
Union.’;

This Regulation shall enter into force on the third day following
the European
that of
Union.

its publication in the Official

Journal of

It shall apply from 1 May 2004.

This Regulation shall be binding in its entirety and directly applicable in all Member States.

Done at Brussels, 22 December 2004.

For the Council
The President

C. VEERMAN