SHOULD CONSEQUENTLY BE ALLOWED TO AMOUNT TO 50 % ;
WHEREAS THIS INCREASED RATE OF PARTICIPATION SHOULD ALSO BE APPLIED TO PROJECTS FOR THE CONSTRUCTION OF ARTIFICIAL STRUCTURES TO FACILITATE RESTOCKING OF COASTAL AREAS , GIVEN THE HEAVY INVESTMENT INVOLVED IN RELATION TO THE SHORT-TERM BENEFITS ACCRUING TO COMMUNITIES LIVING FROM FISHING ;
WHEREAS , IN ORDER TO ENSURE THAT BENEFICIARIES OBSERVE THE CONDITIONS IMPOSED WHEN FUND AID IS GRANTED , AN EFFECTIVE CONTROL PROCEDURE SHOULD BE PROVIDED FOR WITH THE POSSIBILITY OF SUSPENDING , REDUCING OR DISCONTINUING THE AID FROM THE FUND ;
WHEREAS A PROCEDURE FOR EXAMINATION OF THE PROGRAMMES SHOULD BE PROVIDED FOR TO ENSURE CLOSE COOPERATION BETWEEN THE MEMBER STATES AND THE COMMISSION WITHIN THE STANDING COMMITTEE FOR THE FISHING INDUSTRY ; WHEREAS , FOR THE APPROVAL OF PROJECTS , IN ADDITION TO THE PROCEDURE IN THE STANDING COMMITTEE , PROVISION MUST BE MADE FOR CONSULTATION , CONCERNING THE FINANCIAL ASPECTS , OF THE FUND COMMITTEE REFERRED TO IN ARTICLE 11 OF REGULATION ( EEC ) NO 729/70 ,
HAS ADOPTED THIS REGULATION :
ARTICLE 1
1 . IN ORDER TO PROMOTE THE NECESSARY STRUCTURAL CHANGES WITHIN THE GUIDELINES OF THE COMMON FISHERIES POLICY AND TO ENABLE THE OBJECTIVES SET OUT IN ARTICLE 9 OF REGULATION ( EEC ) NO 101/76 TO BE ATTAINED , A COMMON MEASURE SHALL BE UNDERTAKEN TO RESTRUCTURE , MODERNIZE AND DEVELOP CERTAIN FISHING FLEETS AND TO DEVELOP AQUACULTURE .
2 . ALL THE MEASURES PROVIDED FOR IN THIS REGULATION SHALL CONSTITUTE A COMMON MEASURE WITHIN THE MEANING OF ARTICLE 6 ( 2 ) OF REGULATION ( EEC ) NO 729/70 .
3 . THE COMMISSION MAY , IN ACCORDANCE WITH THE PROVISIONS OF TITLES III AND IV , GRANT AID FOR THE COMMON MEASURE , BY FINANCING PROJECTS WHICH SATISFY THE CONDITIONS OF THIS REGULATION , THROUGH THE GUIDANCE SECTION OF THE EUROPEAN AGRICULTURAL GUIDANCE AND GUARANTEE FUND ( HEREINAFTER REFERRED TO AS " THE FUND " ) .
ARTICLE 2
FOR THE PURPOSES OF THIS REGULATION :
- " MULTIANNUAL GUIDANCE PROGRAMME " ( HEREINAFTER REFERRED TO AS " PROGRAMME " ) MEANS A SET OF OBJECTIVES , TOGETHER WITH A STATEMENT OF THE MEANS FOR ATTAINING THEM , DESIGNED TO RESTRUCTURE , MODERNIZE AND DEVELOP CERTAIN FISHING FLEETS AND TO DEVELOP AQUACULTURE , IN A MEMBER STATE ,
- " PROJECTS " MEANS ANY PUBLIC , SEMI-PUBLIC OR PRIVATE CAPITAL INVESTMENT PROJECTS RELATING ENTIRELY OR PARTLY TO :
( A ) THE PURCHASE OR CONSTRUCTION OF NEW FISHING VESSELS , AND THE MODERNIZATION OR CONVERSION OF FISHING VESSELS ALREADY IN USE ;
( B ) THE CONSTRUCTION , EQUIPMENT OR MODERNIZATION OF INSTALLATIONS FOR REARING FISH , CRUSTACEANS AND MOLLUSCS ;
( C ) THE CONSTRUCTION , WITHIN AN AREA OF THREE MILES FROM THE BASE LINES , OF ARTIFICIAL STRUCTURES TO FACILITATE RE-STOCKING OF MEDITERRANEAN COASTAL AREAS .
TITLE I
MULTIANNUAL GUIDANCE PROGRAMMES
ARTICLE 3
FOR THE INVESTMENTS PROVIDED FOR IN ( A ) AND ( B