These Regulations provide that the Department may pay financial assistance for the purposes of Title V of Regulation (EU) No 508/2014 of the European Parliament and of the Council on the European Maritime and Fisheries Fund (OJ.No. L149, 20.5.2014, p.1) (the “EMFF Regulation”).

The EMFF Regulation provides for support from the European Maritime and Fisheries Fund in respect of certain categories of investments, projects or actions in the fisheries and aquaculture sectors.

Regulations 3 to 7 set out the procedure relating to applications for financial assistance. Regulation 5 makes it an offence to supply false information when making an application.

Regulation 8 makes payment of financial assistance dependent on provision of satisfactory evidence of expenditure incurred and compliance with conditions of approval.

Regulation 9 makes provision for the method of payment of financial assistance.

Regulation 10 makes payment conditional on the applicant retaining relevant records for the stipulated time period and failure to do so is an offence.

Regulation 11 provides for the variation, suspension and revocation of any approval of an application for financial assistance.

Regulation 12 provides that the Department may, by notice, recover payments of financial assistance in certain circumstances, and that sums outstanding may be recovered as a debt.

Regulations 13 and 14 provide the Department with powers of entry, and offences and penalties, for the enforcement of these Regulations.

Regulation 15 revokes schemes of financial assistance to the fishing industry, that are closed to new applications, along with appropriate savings provisions.