TITLE IIGENERAL PROVISIONS ON DIRECT PAYMENTS

CHAPTER 2Modulation and financial discipline

Article 7Modulation

1

Any amount of direct payments to be granted in a given calendar year to a farmer in excess of EUR 5 000 shall be reduced for each year until 2012 by the following percentages:

a

in 2009 by 7 %;

b

in 2010 by 8 %;

c

in 2011 by 9 %;

d

in 2012 by 10 %.

2

The reductions provided for in paragraph 1 shall be increased by 4 percentage points for amounts exceeding EUR 300 000.

3

Paragraphs 1 and 2 shall not apply to direct payments granted to farmers in the French overseas departments, in the Azores and Madeira, in the Canary Islands and in the Aegean islands.