Detailed Instructions: In this task, you are provided with an article of the legal acts. Your task is to classify it into three categories (Regulation, Decision and Directive) based on its content: 1) Regulation is a binding legislative act that must be applied in its entirety on a set date across all the member states (European Union countries). 2) Decision is binding on those to whom it is addressed (e.g. an European Union country or an individual company) and is directly applicable. 3) Directive is a legislative act that sets out a goal that all must achieve. However, it is up to the individual countries to devise their own laws on how to reach these goals.
Problem:A first tranche of borrowings shall be authorized for an amount not exceeding the equivalent of a capital sum of 500 million European units of account. (1)OJ No L 298, 25.10.1978, p. 9. (2)OJ No C 88, 4.4.1979, p. 3. (3)OJ No C 127, 21.5.1979, p. 32. The product of these borrowings shall be used for loans to finance investment projects which are realized on Community territory and which are consistent with priority Community objectives in the infrastructure and energy sectors.For the purposes of this first tranche, infrastructure investment shall cover in particular transport, telecommunications, agricultural improvements, water supply works and environmental protection. Energy investment shall contribute to greater independence, security and diversification of Community energy supplies ; investment shall ensure the development, exploitation, transportation and storage of energy resources ; particular attention shall be paid to energy saving and to the development of alternative energy sources. The Commission shall decide whether or not projects are eligible in accordance with the following guidelines: - the investment shall be consistent with the Community rules applicable in the relevant sectors,- the investment shall contribute to resolving the Community's main structural problems and, in particular, to reducing the regional imbalances in the Community and to improving the employment situation.
Solution:
Decision