17107/12 FL/ne 1 DG E 2 A COU CIL OF THE EUROPEA U ... - Europa

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5. Use of the Union contribution The Union contribution shall be used: a. towards equity participations and, b. to cover agreed fees and costs associated with the establishment and management of the Equity Instrument, including its evaluation, which have been determined in line with the Financial Regulation and market practice. c. for directly related support actions. 6. Pricing, risk and revenue sharing The equity remuneration shall comprise the customary return components attributed to equity investors and shall depend on the performance of the underlying investments. 7. Application and approval procedure Applications shall be addressed to the entrusted entity or a dedicated investment vehicle, respectively, in accordance with their standard application procedures. The entrusted entities and the dedicated investment vehicles shall approve the projects in accordance with their internal procedures. 8. Duration of the Equity Instrument The last tranche of the Union contribution to the Equity Instrument shall be committed by the Commission no later than 31 December 2020. The actual approval of equity investments by the entrusted entities or the dedicated investment vehicles shall be finalised by 31 December 2022. In the event of termination of the Equity Instrument prior to 2020 any balances on the fiduciary accounts, other than funds committed and funds needed to cover fees and expenses, shall be returned to the respective CEF budget lines. 17107/12 FL/ne 86 ANNEX TO ANNEX DG E 2 A E
9. Expiry Union contribution allocated to the Equity Instrument shall be reimbursed to the relevant fiduciary account as investments are exited or mature otherwise. The fiduciary account shall maintain sufficient funding to cover fees or risks related to the Equity Instrument until its expiry. 10. Reporting Annual reporting methods on the implementation of the Equity Instrument shall be agreed by the Commission and the entrusted entity in the agreement in line with the Financial Regulation. In addition, the Commission shall, with the support of the entrusted entities, report on implementation annually to the European Parliament and the Council until 2023 in accordance with the Article 131(6) of the Financial Regulation. 11. Monitoring, control and evaluation The Commission shall monitor the implementation of the Equity Instrument, including through on- the-spot controls as appropriate, and shall perform verification and controls in line with the Financial Regulation. 12. Support actions The implementation of the Equity Instrument may be supported by a set of accompanying measures. These may include, amongst other measures, technical and financial assistance; measures to raise the awareness of capital providers; schemes to attract private investors. III. Annual schedule for the contribution from the general budget of the EU 65 1. The contribution from the general budget of the EU to the Debt Instrument shall be made available to the EIB and entrusted entities in accordance with the following indicative schedule: 65 Amounts will be filled in once the MFF negotiations are completed and numbers are known. 17107/12 FL/ne 87 ANNEX TO ANNEX DG E 2 A E
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COUCIL OF THE EUROPEA UIO Interinst
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7. The majority of issues pending t
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Whereas: [ (1) The creation of the
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(8) The European Parliament in its
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(14) In the Communication on "Energ
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(21) The Europe 2020 Strategy 16 ca
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(28) Generic services in areas of p
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(35) The EU Budget Review 23 emphas
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(42) Due to the high budget needed
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TITLE I COMMO PROVISIOS CHAPTER I T
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(8) "beneficiary" means a Member St
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Article 3 General objectives The CE
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(iii) optimising multimodality, eff
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(iii) The achievement of the object
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CHAPTER II FORMS OF FIACIG AD FIACI
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(h) actions implementing safe and s
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5. Expenditure related to environme
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17107/12 FL/ne 1 DG E 2 A COU CIL OF THE EUROPEA U ... - Europa

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