Subject to any modification required by Council Regulation 2792/99 or any deduction required under sub-paragraph (2), the amount of grant which applicants who are eligible for payment of grant shall be paid shall be the amount of the bid made by such applicants in their applications.

There shall be deducted from the grant a sum equal to any payment made in relation to the vessel under the Sea Fishing (Transitional Support) (Scotland) Scheme 2003.