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TITLE VU.K.FINANCIAL PROVISIONS

Article 23U.K.Financial resources

[F11. The measures provided for in this Regulation, except for Article 16, shall constitute intervention intended to stabilise the agricultural markets within the meaning of Article 2(2) of Council Regulation (EC) No 1258/1999 of 17 May 1999 on the financing of the common agricultural policy (1) for the period up to 31 December 2006 . With effect from 1 January 2007 the same measures shall constitute intervention to regulate agricultural markets within the meaning of Article 3(1)(b), or direct payments to farmers under Article 3(1)(c), of Regulation (EC) No 1290/2005 of 21 June 2005 on the financing of the common agricultural policy (2) .]

[F12. The Community shall finance the measures provided for in Titles II and III of this Regulation up to an annual maximum as follows:

(million EUR)
Financial year 2007 Financial year 2008 Financial year 2009 Financial year 2010 and further
French overseas departments 126,6 262,6 269,4 273
Azores and Madeira 77,9 [F286,98] [F387,08] [F387,18]
Canary Islands 127,3 268,4 268,4 268,4]

3.The amounts allocated annually to the programmes provided for in Title II may not exceed:

— French overseas departments

:

EUR 20,7 million,

— Azores and Madeira

:

EUR 17,7 million,

— Canary Islands

:

EUR 72,7 million.

[F14. The annual amounts referred to in paragraphs 2 and 3 shall include any expenditure incurred in accordance with the Regulations referred to in Article 29.]

(1)

[F1 OJ L 160, 26.6.1999, p. 103 . Regulation repealed by Regulation (EC) No 1290/2005 ( OJ L 209, 11.8.2005, p. 1 ).

(2)

OJ L 209, 11.8.2005, p. 1 . Regulation as last amended by Regulation (EC) No 320/2006.]