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.