EC Statement: State aid - Commission adopts new Regulation on state aid for fisheries sector
( July 24, 2007, 11:38 GMT | Official Statement) -- Extract: The European Commission has today adopted a Commission Regulation increasing the ceiling of the so-called 'de minimis' aid to the fisheries sector. De minimis aid is aid deemed not to distort competition. Under the new Regulation, the ceiling will be set at € 30 000 per three-year period, per beneficiary, on condition that the total amount of such aid represents less than 2.5% of the annual national fisheries output. None of this aid may be used to purchase or construct new vessels or to enhance existing fleet capacity.The European Commission has today adopted a Commission Regulation increasing the ceiling of the so-called 'de minimis' aid to the fisheries sector. De minimis aid is aid deemed not to distort competition. Under the new Regulation, the ceiling will be set at € 30 000 per three-year period, per beneficiary, on condition that the total amount of such aid represents less than 2.5% of the annual national fisheries output. None of this aid may be used to purchase or construct new vessels or to enhance existing fleet capacity. Member States will have to record all relevant information to show that these conditions have been respected....
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