Commission Implementing Regulation (EU) 2020/1001Show full title

CHAPTER I GENERAL PROVISIONS

Article 1 Subject matter

This Regulation lays down detailed rules on the operation of the Modernisation Fund as regards the following:

(a)

submission of proposals for financing of investments;

(b)

assessment of priority investments and non-priority investments;

(c)

management, disbursement and payment of the resources from the Modernisation Fund;

(d)

composition and operation of the Investment Committee for the Modernisation Fund (‘Investment Committee’);

(e)

monitoring, reporting, evaluation, and auditing;

(f)

information and transparency.

Article 2 Definitions

For the purposes of this Regulation the following definitions apply:

(1)

‘beneficiary Member State’ means a Member State listed in Annex IIb to Directive 2003/87/EC;

(2)

‘non-priority investment’ means an investment that does not fall into any area listed in Article 10d(2) of Directive 2003/87/EC;

(3)

‘non-priority small-scale project’ means a non-priority investment receiving State aid the total amount of which meets the criteria of the de minimis aid in accordance with Article 3 of Commission Regulation (EU) No 1407/2013(1);

(4)

‘priority investment’ means an investment that falls into at least one area listed in Article 10d(2) of Directive 2003/87/EC;

(5)

‘scheme’ means an investment proposal which complies with the following criteria:

(a)

it comprises a consistent set of priorities coherent with the objectives of the Modernisation Fund, and because of the characteristics of the projects under the scheme, it can be qualified either as a priority or non-priority investment;

(b)

it has a duration of more than one year;

(c)

it has a national or regional scope; and

(d)

it aims to support more than one public or private person or entity responsible for initiating or initiating and implementing projects under the scheme.

(1)

Commission Regulation (EU) No 1407/2013 of 18 December 2013 on the application of Articles 107 and 108 of the Treaty on the Functioning of the European Union to de minimis aid (OJ L 352, 24.12.2013, p. 1).