Article 1 
The Commission may decide to refer to the Joint Committee established by the Agreement between the European Economic Community and the Republic of Iceland (‘the Agreement’), for the purpose of taking the measures provided for in Articles 23, 25, 25a and 27 of the Agreement. Where necessary, the Commission shall adopt those measures in accordance with the examination procedure referred to in Article 6(2) of this Regulation. The Commission shall inform the Member States should it decide to refer an issue to the Joint Committee.
Article 2 
1. In the case of a practice that may justify application by the Union of the measures provided for in Article 24 of the Agreement, the Commission, after examining the case on its own initiative or at the request of a Member State, shall decide whether such practice is compatible with the Agreement. Where necessary, the Commission shall adopt safeguard measures in accordance with the examination procedure referred to in Article 6(2) of this Regulation. 2. In the case of a practice that may cause safeguard measures to be applied to the Union on the basis of Article 24 of the Agreement, the Commission, after examining the case, shall decide whether the practice is compatible with the principles set out in the Agreement. Where necessary, it shall formulate appropriate recommendations.
Article 3 
In the case of a practice that may justify application by the Union of the measures provided for in Article 26 of the Agreement, the procedures established by Council Regulation (EC) No 597/2009 ( 6 ) and Council Regulation (EC) No 1225/2009 ( 7 ) shall be applicable.
Article 4 
1. Where exceptional circumstances require immediate action in the situations referred to in Articles 25, 25a and 27 of the Agreement or in the case of export aids that have a direct and immediate effect on trade, the precautionary measures provided for in point (e) of Article 28(3) of the Agreement may be adopted by the Commission in accordance with the examination procedure referred to in Article 6(2) of this Regulation, or in cases of urgency, in accordance with Article 6(3) of this Regulation. 2. Where the Commission is requested to take action by a Member State, it shall take a decision on that request within a maximum period of five working days of its receipt.
Article 5 
Notification to the Joint Committee by the Union as required by Article 28(2) of the Agreement shall be the responsibility of the Commission.
Article 6 
1. The Commission shall be assisted by the Committee on Safeguards established by Article 4(1) of Council Regulation (EC) No 260/2009 ( 8 ) . That Committee shall be a committee within the meaning of Regulation (EU) No 182/2011. 2. Where reference is made to this paragraph, Article 5 of Regulation (EU) No 182/2011 shall apply. 3. Where reference is made to this paragraph, Article 8 of Regulation (EU) No 182/2011, in conjunction with Article 5 thereof, shall apply.
Article 7 
The Commission shall include information on the implementation of this Regulation in its annual report on the application and implementation of trade defence measures presented to the European Parliament and to the Council pursuant to Article 22a of Regulation (EC) No 1225/2009.
Article 8 
Regulation (EEC) No 2843/72 is repealed. References to the repealed Regulation shall be construed as references to this Regulation and shall be read in accordance with the correlation table in Annex II.
Article 9 
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union .