Document ID: 32002D0634

Council Decision
of 22 July 2002
amending Decision 2001/76/EC in respect of export credits for ships
(2002/634/EC)
THE COUNCIL OF THE EUROPEAN UNION,
Having regard to the Treaty establishing the European Community, and in particular Article 133 thereof,
Having regard to the proposal from the Commission,
Whereas:
(1) The Community is a party to the Arrangement on guidelines for officially supported export credits concluded within the OECD, hereinafter referred to as "the Arrangement".
(2) By virtue of Council Decision 2001/76/EC of 22 December 2000 replacing the Decision of 4 April 1978 on the application of certain guidelines in the field of officially supported export credits(1), the Arrangement on guidelines for officially supported export credits, which is annexed to the Decision, applies in the Community.
(3) The participants in the Arrangement, in conjunction with the participants in OECD Working Party No 6 on shipbuilding, have decided to update the specific guidelines on export credits applicable to this sector, as laid down in Annex I to the Arrangement. The participants in the Arrangement have, in the framework of the OECD, approved the new sector Understanding on export credits for ships.
(4) The Arrangement continues to apply to ships not covered by the sector Understanding, and also to ships that are covered insofar as the Understanding does not specifically provide otherwise.
(5) Decision 2001/76/EC should be amended accordingly,
HAS ADOPTED THIS DECISION:
Article 1
The Annex to Decision 2001/76/EC is hereby amended as follows:
1. Article 3(a) shall be replaced by the following: "(a) Ships
The Arrangement shall apply to ships not covered by the Sector Understanding on Export Credits for Ships, which has been adopted by all Participants to the Arrangement as an Annex to the Arrangement (Annex I). For the Participants to the Sector Understanding, the Arrangement shall apply to ships covered by that Understanding, except that where a corresponding provision exists in the Sector Understanding, which complements the Arrangement, the Sector Understanding shall prevail.";
2. Article 49(a)(4) shall be deleted;
3. Annex I shall be replaced by the text in the Annex to this Decision.
Article 2
This Decision is addressed to the Member States.
Done at Brussels, 22 July 2002.

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