Article 1 
1. Notwithstanding the provisions of Regulation (EC) No 3094/95, for the yards under restructuring specified in paragraphs 2, 3 and 4 of this Article the Commission may declare additional operating aid compatible with the common market for the specific purposes and up to the amounts specified. 2. In the territory of the former German Democratic Republic, operating aid for the period from 1 March 1996 until 31 December 1998 in favour of MTW-Schiffswerft and Volkswerft Stralsund may be considered compatible with the common market up to a total amount of DM 333 million and DM 395 million respectively. The said amounts comprise the aid to facilitate the further operation of the yards, social aid, contract-related aid under the 'Wettbewerbshilfe` scheme and the aid equivalent of guarantees. For these yards the provisions of Chapter II of Directive 90/684/EEC shall not be applicable during the restructuring period with the exception of Article 4 (6) and (7) of the said Directive, and no other operating aid may be paid for works on contracts or losses in the relevant period. For contracts signed during the restructuring period but carried out after it, the Community rules on contract-related aid valid on the date of contract signature shall apply, including those related to the date of delivery of the vessels. In the event of a reduction of the maximum allowable intensity for contract-related aid, the contract-related aid for the yards subject to this paragraph shall be reduced proportionally for new contracts signed by these yards under which delivery of the vessel is stipulated during the restructuring period. 3. Drachma aid in the form of a waiver-of debts of 'Hellenic shipyards`, up to the amount of Dr 54 525 million, corresponding to debts relating to civil work by the yard, as existing on 31 December 1991 and with accrued interest rates and penalties until 31 January 1996 may be regarded as compatible with the common market. All other provisions of Directive 90/684/EEC shall apply to this yard. 4. Aid for the restructuring of the publicly-owned yards in Spain may be considered compatible with the common market up to an amount of Pta 135 028 million in the following forms: - interest payments of up to Pta 62 028 million in 1988 to 1994 on loans taken on to cover unpaid previously approved aid, - tax credits in the period 1995 to 1999 of up to Pta 58 000 million, - capital injection in 1997 of up to Pta 15 000 million. All other provisions of Directive 90/684/EEC shall apply to these yards. The Spanish Government agrees to carry out, according to a timetable approved by the Commission and in any case before 31 December 1997, a genuine and irreversible reduction of capacity of 30 000 cgrt. Article 2 For the restructuring programmes in Spain and Germany benefiting from aid as provided for in Article 1, the notification referred to in Article 11 (2) of Directive 90/684/EEC shall be supplemented by a programme for the monitoring of the actual use of the operating and investment aid, compliance with the restructuring plan and enforcement of capacity limitations which is acceptable to the Commission. The programme of monitoring shall include on site monitoring by the Commission assisted if necessary by independent experts. The Member States concerned shall supply the Commission until the end of June 1999 with quarterly reports on progress towards completing the restructuring programmes benefiting from aid as provided for in Article 1 and information on the specific shipyards benefiting from aid as provided in Article 1. The information on the specific shipyards shall include the following elements: - use of aid, - investments, - productivity performance, - capacity reductions and limitations, - employment reductions, - financial viability. If, on the basis of the information received, the Commission considers that the conditions attached to any authorization of aid pursuant to this Regulation have not been complied with, it may require suspension of the aid payments and/or recovery of aid. The Commission shall provide to the Council twice yearly reports on progress on the restructuring programmes, which may also be discussed at a multilateral meeting with national experts. Article 3 This Regulation shall enter into force on the day following its publication in the Official Journal of the European Communities. It shall apply until 31 December 1998. This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Luxembourg, 2 June 1997. For the Council The President H. VAN MIERLO (1) OJ No C 150, 19. 5. 1997. (2) OJ No L 332, 30. 12. 1995, p. 1. Regulation as amended by Regulation (EC) No 1904/96 (OJ No L 251, 3. 10. 1996, p. 5). (3) OJ No L 380, 31. 12. 1990, p. 27. Regulation as last amended by Directive 94/73/EC (OJ No L 351, 31. 12. 1994, p. 10). (4) OJ No L 219, 4. 8. 1992, p. 54.
Article 2 
For the restructuring programmes in Spain and Germany benefiting from aid as provided for in Article 1, the notification referred to in Article 11 (2) of Directive 90/684/EEC shall be supplemented by a programme for the monitoring of the actual use of the operating and investment aid, compliance with the restructuring plan and enforcement of capacity limitations which is acceptable to the Commission. The programme of monitoring shall include on site monitoring by the Commission assisted if necessary by independent experts. The Member States concerned shall supply the Commission until the end of June 1999 with quarterly reports on progress towards completing the restructuring programmes benefiting from aid as provided for in Article 1 and information on the specific shipyards benefiting from aid as provided in Article 1. The information on the specific shipyards shall include the following elements: - use of aid, - investments, - productivity performance, - capacity reductions and limitations, - employment reductions, - financial viability. If, on the basis of the information received, the Commission considers that the conditions attached to any authorization of aid pursuant to this Regulation have not been complied with, it may require suspension of the aid payments and/or recovery of aid. The Commission shall provide to the Council twice yearly reports on progress on the restructuring programmes, which may also be discussed at a multilateral meeting with national experts. Article 3 This Regulation shall enter into force on the day following its publication in the Official Journal of the European Communities. It shall apply until 31 December 1998. This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Luxembourg, 2 June 1997. For the Council The President H. VAN MIERLO (1) OJ No C 150, 19. 5. 1997. (2) OJ No L 332, 30. 12. 1995, p. 1. Regulation as amended by Regulation (EC) No 1904/96 (OJ No L 251, 3. 10. 1996, p. 5). (3) OJ No L 380, 31. 12. 1990, p. 27. Regulation as last amended by Directive 94/73/EC (OJ No L 351, 31. 12. 1994, p. 10). (4) OJ No L 219, 4. 8. 1992, p. 54.
Article 3 
This Regulation shall enter into force on the day following its publication in the Official Journal of the European Communities. It shall apply until 31 December 1998. This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Luxembourg, 2 June 1997. For the Council The President H. VAN MIERLO (1) OJ No C 150, 19. 5. 1997. (2) OJ No L 332, 30. 12. 1995, p. 1. Regulation as amended by Regulation (EC) No 1904/96 (OJ No L 251, 3. 10. 1996, p. 5). (3) OJ No L 380, 31. 12. 1990, p. 27. Regulation as last amended by Directive 94/73/EC (OJ No L 351, 31. 12. 1994, p. 10). (4) OJ No L 219, 4. 8. 1992, p. 54.