Eurlexa

Article 1Subject matterThis 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 2DefinitionsFor 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 1407/2013Commission 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).;(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;(6)"large-scale scheme" means a scheme for which the total Modernisation Fund support requested exceeds EUR 100000000;(7)"large-scale project" means an investment other than a scheme, for which the total Modernisation Fund support requested exceeds EUR 70000000;(8)"category of funds" means any of the following categories of funds available to a beneficiary Member State:(a)funds generated by the auctioning of allowances under Article 10(1), third subparagraph, of Directive 2003/87/EC;(b)funds generated by the auctioning of allowances under Article 10(1), fourth subparagraph, of Directive 2003/87/EC;(c)funds generated by the auctioning of the allowances transferred to the Modernisation Fund under Article 10d(4) of Directive 2003/87/EC;(9)"subcategory of funds" means any of the following subcategories of funds generated by the auctioning of allowances transferred to the Modernisation Fund in accordance with Article 10(1), third subparagraph, of Directive 2003/87/EC:(a)funds generated before 31 December 2027;(b)funds generated between 31 December 2027 and 30 December 2028;(c)funds generated after 30 December 2028.