CELEX: 21976A0304(02)
Language: en
Date: 1976-04-28 00:00:00
Title: Financial Protocol between the European Economic Community and Malta

Avis juridique important

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21976A0304(02)

Financial Protocol between the European Economic Community and Malta  

Official Journal L 111 , 28/04/1976 P. 0067

 FINANCIAL PROTOCOL    HIS MAJESTY THE KING OF THE BELGIANS ,    HER MAJESTY THE QUEEN OF DENMARK ,    THE PRESIDENT OF THE FEDERAL REPUBLIC OF GERMANY ,    THE PRESIDENT OF THE FRENCH REPUBLIC ,    THE PRESIDENT OF IRELAND ,    THE PRESIDENT OF THE ITALIAN REPUBLIC ,    HIS ROYAL HIGHNESS THE GRAND DUKE OF LUXEMBOURG ,    HER MAJESTY THE QUEEN OF THE NETHERLANDS ,    HER MAJESTY THE QUEEN OF THE UNITED KINGDOM OF GREAT   BRITAIN AND NORTHERN IRELAND ,    and    THE COUNCIL OF THE EUROPEAN COMMUNITIES ,    of the one part , and    THE PRESIDENT OF THE REPUBLIC OF MALTA ,    of the other part ,    CONSCIOUS of the need to promote the accelerated   development of the Maltese economy with a view to   facilitating the pursuit of the objectives of the Agreement   establishing an association between the European Economic   Community and Malta ,    HAVE DESIGNATED as their Plenipotentiaries :    HIS MAJESTY THE KING OF THE BELGIANS :    Joseph VAN DER MEULEN ,    Ambassador Extraordinary and Plenipotentiary , Permanent   Representative to the European Communities ;    HER MAJESTY THE QUEEN OF DENMARK :    Niels ERSBOELL ,    Ambassador Extraordinary and Plenipotentiary , Permanent   Representative to the European Communities ;    THE PRESIDENT OF THE FEDERAL REPUBLIC OF GERMANY :    Ulrich LEBSANFT ,    Ambassador Extraordinary and Plenipotentiary , Permanent   Representative to the European Communities ;    THE PRESIDENT OF THE FRENCH REPUBLIC :    Jean-Marie SOUTOU ,    Ambassador of France , Permanent Representative to the   European Communities ;    THE PRESIDENT OF IRELAND :    Brendan DILLON ,    Ambassador Extraordinary and Plenipotentiary , Permanent   Representative to the European Communities ;    THE PRESIDENT OF THE ITALIAN REPUBLIC :    Giorgio BOMBASSEI FRASCANI DE VETTOR ,    Ambassador of Italy , Permanent Representative to the   European Communities ;    HIS ROYAL HIGHNESS THE GRAND DUKE OF LUXEMBOURG :    Jean DONDELINGER ,    Ambassador Extraordinary and Plenipotentiary , Permanent   Representative to the European Communities ;    HER MAJESTY THE QUEEN OF THE NETHERLANDS :    E. J. KORTHALS ALTES ,    Minister , Plenipotentiary , Deputy Permanent   Representative to the European Communities ;    HER MAJESTY THE QUEEN OF THE UNITED KINGDOM OF GREAT   BRITAIN AND NORTHERN IRELAND :    Sir Donald MAITLAND , CMG , OBE .    Ambassador Extraordinary and Plenipotentiary , Permanent   Representative to the European Communities ;    THE COUNCIL OF THE EUROPEAN COMMUNITIES :    Jean DONDELINGER ,    Ambassador Extraordinary and Plenipotentiary , Permanent   Representative of Luxemburg , Chairman of the Permanent   Representatives Committee ;    Theodorus HIJZEN ,    Director-General of External Relations of the Commission of   the European Communities ;    THE PRESIDENT OF THE REPUBLIC OF MALTA :    Joseph Attard KINGSWELL ,    Ambassador Extraordinary and Plenipotentiary , Permanent   Delegate of the Republic of Malta to the European Economic   Community ,    WHO , having exchanged their full powers , found in good   and due form ,    HAVE AGREED AS FOLLOWS :    Article 1    The Community shall participate , within the framework of   financial and technical cooperation , in the financing of   projects designed to contribute to the economic and social   development of Malta .    Article 2    1 . For the purposes specified in Article 1 , and for a   period expiring five years after the entry into force of this   Protocol , an aggregate amount of 26 million units of account   may be committed as follows :    ( a ) 16 million units of account in the form of loans from   the European Investment Bank , hereinafter called ' the   bank ' , accorded from its own resources on the terms set out   in its statute ;    ( b ) five million units of account in the form of loans on   special terms ;    ( c ) five million units of account in the form of   grants ,    Provision may be made for contributions to risk capital   formation , to be charged against the amount shown in   ( b ) .    2 . The loans referred to in paragraph 1 ( a ) shall   generally be combined with 2 % interest rate subsidies   financed by means of the funds shown in paragraph 1 ( c ) .    Article 3    1 . The amount fixed in Article 2 shall be used for the   financing or part-financing of projects such as :    - capital projects in the fields of production and economic   and social infrastructure , aimed in particular at   diversifying the economic structure of Malta and ,   especially , at promoting its industrialization and the   modernization of its agriculture , fisheries and tourist   industry ;    - technical cooperation as a preliminary or complement to   capital projects and , as a corollary , technical cooperation   schemes in the field of training .    2 . Community aids shall be used to cover costs necessarily   incurred in carrying out approved projects or schemes . They   may not be used to cover current administrative , maintenance   or operational expenditure .    Article 4    1 . Capital projects shall be eligible for financing   either by loans from the bank , combined with interest rate   subsidies on the terms set out in Article 2 , or by loans on   special terms , or by a combination of these two means .    2 . Technical cooperation shall normally be financed by   grants .    Article 5    1 . The amounts to be committed each year for each of the   various forms of aid shall be distributed as evenly as   possible throughout the period of application of this     Protocol . During the initial period of application ,   however , a proportionately higher amount way , within   reasonable limits , be committed .    2 . Any funds not committed by the end of the fifth year   following the entry into force of the Protocol shall be   used , until exhausted , in accordance with the same   arrangements as provided for in this Protocol .    Article 6    1 . Loans accorded by the bank from its own resources shall   be combined with terms as to duration established on the   basis of the economic and financial characteristics of the   projects for which such loans are intended . The interest   rate shall be that applied by the bank at the time of   signature of each loan contract , subject to the interest   rate subsidy referred in Article 2 ( 2 ) .    2 . Loans on special terms shall be accorded for 40 years   with a grace period of 10 years . The interest rate shall be   fixed at 1 % .    3 . The loans may be granted through the intermediary of   the State of Malta or appropriate Maltese public bodies , on   condition that they onlend the mounts to the recipients on   terms decided , by agreement with the Community , on the   basis of the economic and financial characteristics of the   projects .    Article 7    Aid contributed by the Community for the execution of   certain projects may , with the agreement of Malta , take the   form of co-financing in which , in particular , credit and   development bodies and institutions of Malta , of Member   States or of third States or international finance   organizations would take part .    Article 8    The following shall be eligible for financial and technical   cooperation :    ( a ) in general :    - the State of Malta ;    ( b ) with the agreement of the State of Malta , for   projects or measures approved by it :    - Maltese official development agencies ;    - private agencies working in Malta for economic and social   development ;    - firms , carrying on their activities in accordance with   the methods of industrial and business management , which are   set up as companies of firms under Maltese law ;    - groups of producers that are nationals of Malta , and   exceptionally , where no such groups exist , the producers   themselves ;    - scholarship holders and trainees sent by Malta under the   training schemes referred to in Article 3 .    Article 9    1 . On the entry into force of this Protocol , the   Community and Malta shall establish by mutual agreement the   specific objectives of financial and technical cooperation ,   by reference to the priorities set by Malta ' s development   plan .    These objectives may be reviewed by mutual agreement to   take account of changes in Malta ' s economic situation or in   the objectives and priorities set by its development plan .    2 . Within the framework established pursuant to paragraph   1 , financial and technical cooperation shall apply to   projects and measures drawn up by Malta or by other   beneficiaries approved by that country .    Article 10    1 . For each request for financial aid under this   Protocol , a dossier shall be submitted to the Community by   the beneficiary referred to in Article 8 ( a ) or , with the   agreement of Malta , by those referred to in Article 8   ( b ) .    2 . The Community shall appraise the requests for   financing in collaboration with the State of Malta and the   beneficiaries in accordance with the objectives set out in   Article 9 ( 1 ) , and shall inform them of the decisions   taken on such requests .    Article 11    The execution , management and maintenance of works that   are the subject of financing under this Protocol shall be the   responsability of Malta or the other beneficiaries referred   to in Article 8 of this Protocol .    The Community shall ensure that this financial aid is   expended in accordance with the agreed allocations and to the   best economic advantage .    Article 12    1 . As regards projects and measures financed by the   Community , participation in tendering procedures and other   procedures for the award of contracts shall be open , on   equal terms , to all natural or legal persons of Malta and of   the Member States .    2 . To promote participation by Maltese firms in the   performance of contracts , an accelerated procedure for   issuing invitations to tender involving shorter time limits   for the submission of tenders may be used after approval by   the relevant Community body where the works in question ,   because of their scale , are mainly of interest to Maltese   firms .    3 . Where the relevant Community body considers it useful ,   participation by other countries in contracts financed by the   Community may be authorized exceptionally on a case-by-case   basis .    Participation by third countries may also be authorized on   the same conditions where the Community is financing schemes   jointly with other sources of funds .    Article 13    Malta shall apply to contracts awarded for the execution of   projects or measures financed by the Community fiscal and   customs arrangements as favourable as those applied in   respect of other international organizations .    Article 14    Where a loan is accorded to a beneficiary other than the   State of Malta , the provision of a guarantee by the latter   or of other guarantees considered adequate may be required by   the Community as a condition of the grant of the loan .    Article 15    Throughout the duration of the loans accorded pursuant to   this Protocol , Malta shall undertake to make available to   debtors enjoying such loans the foreign currency necessary   for the payment of interest and commission and the repayment   of principal .    Article 16    The results of financial and technical cooperation shall be   examined annually by the Association Council which shall   define , where appropriate , the general guidelines of such   cooperation .    Article 17    This Protocol forms an integral part of the Agreement   establishing an association between the European Economic   Community and Malta .    Article 18    1 . This Protocol shall require ratification , acceptance   or approval in accordance with the procedures in force in   each of the signatory States and the European Economic   Community . The acts necessary for this purpose shall be   exchanged at Brussels .    2 . This Protocol will enter into force on the first day of   the second month following the date on which the exchange of   acts referred to in paragraph 1 has been carried out .    Article 19    This Protocol is drawn up in two copies in the Danish ,   Dutch , English , French , German and Italian languages ,   each of these texts being equally authentic .    In witness whereof , the undersigned Plenipotentiaries have   affixed their signatures below this Financial Protocol .    Done at Brussels on the fourth day of March in the year one   thousand nine hundred and seventy-six .