Financial instruments implemented using EU funds are applied in conformity with EU and national law, including State aid rules.

 

European Union Legislation

Regulations:

• Common Provisions Regulation (CPR)

Regulation (EU) No 303/2013 of the European Parliament and of the Council of 17 December 2013 laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries Fund and repealing Council Regulation (EC) No 1083/2006

• ERDF Regulation

Regulation (EU) No 1301/2013 of the European Parliament and of the Council of 17 December 2013 on the European Regional Development Fund and on specific provisions concerning the Investment for growth and jobs goal and repealing Regulation (EC) No 1080/2006 

• Cohesion Fund Regulation

Regulation (EU) No 1300/2013 of the European Parliament and of the Council of 17 December 2013 on the Cohesion Fund and repealing Council Regulation (EC) No 1084/2006 

• EAFRD Regulation

Regulation (EU) No 1305/2013 of the European Parliament and of the Council of 17 December 2013 on support for rural development by the European Agricultural Fund for Rural Development (EAFRD) and repealing Council Regulation (EC) No 1698/2005 

• EMFF Regulation

Regulation (EU) No 508/2014 of the European Parliament and of the Council of 15 May 2014 on the European Maritime and Fisheries Fund and repealing Council Regulations (EC) No 2328/2003, (EC) No 861/2006, (EC) No 1198/2006 and (EC) No 791/2007 and Regulation (EU) No 1255/2011 of the European Parliament and of the Council 

• Commission Delegated Regulation (EU) No 480/2014 supplementing Regulation (EU) No 1303/2013 of the European Parliament and of the Council laying down common provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund, the European Agricultural Fund for Rural Development and the European Maritime and Fisheries Fund and laying down general provisions on the European Regional Development Fund, the European Social Fund, the Cohesion Fund and the European Maritime and Fisheries Fund 

• Commission Implementing Regulation (EU) No 821/2014 of 28 July 2014 laying down rules for the application of Regulation (EU) No 1303/2013 of the European Parliament and of the Council as regards detailed arrangements for the transfer and management of programme contributions, the reporting on financial instruments, technical characteristics of information and communication measures for operations and the system to record and store data

European Commission Guidance 

• Guidance for Member States on State aid in European Structural and Investment (ESI) Funds Financial instruments in the 2014—2020 programming period , Brussels, 2.5.2017 SWD(2017) 156 final

• Guidance for Member States on Article 42(1)(d) CPR – Eligible management costs and fees

• Questions asked by Member States on the guidance note and replies of European Commission services

• Guidance for Member States on Article 37(2) CPR – Ex-ante assessment, financial instruments

• Questions asked by Member States on the guidance note and replies of European Commission services

• Guidance for Member States on Article 37(4) CPR – Support to enterprises/working capital

• Questions asked by Member States on the guidance note and replies of European Commission services

• Guidance for Member States on financial instruments

• Guidance for Member States on Article 37 (7), (8), (9) on combination of support from a financial instrument with other forms of support

• Questions asked by Member States on the guidance note and replies of European Commission services

• Guidance for Member States on Interest and Other Gains Generated by ESI Funds support paid to FI (Article 43 CPR) 

• Questions asked by Member States on the guidance note and replies of European Commission services

• Guidance for Member States on the selection of bodies implementing financial instruments

• Questions asked by Member States on the guidance note and replies of European Commission services

• Guidance for Member States on Article 38(4) CPR – Implementation options for financial instruments by or under the responsibility of the managing authority

• Financial Instruments - Overview of changes in Title IV of the CPR following the Omnibus Regulation

• Guidance for Member States on Article 46 - reporting requirements on financial instruments and on Article 37(2)(c) - leverage effect

• Guidance for Member States on management verifications (Programming period 2014 – 2020) 

• Audit methodology for auditing financial instruments in the period 2014 – 2020

• Annex 1 - Audit Check list for auditing financial instruments in the period 2014 – 2020

• Annex 2 – Sampling methodology for auditing financial instruments

• Annex 3 – Special provisions for documentation of investments in working capital

National Legislation

• Law on the Management of Resources from the European Structural and Investment Funds 

• Law on Credit Institutions 

• Law on the Activities of collective investment schemes and other undertakings for collective investment 

• Law on Payment Services and Payment Systems 

• Law on Anti-Money-Laundering Measures 

• Rules on Implementing the Law on Anti-Money-Laundering Measures 

• Law on Anti-Terrorist-Financing Measures 

• Public Procurement Act 

• Rules on Implementing the Public Procurement Act 

• Council of Ministers Decree No 189 of 28 July 2016 laying down national rules concerning the eligibility of costs in programmes co-financed by the European Structural and Investment Funds for the Programming period 2014 – 2020

• National Regulation on the identification of irregularities, constituting a basis for financial corrections and on the percentage indicators applicable in determining the amount of financial corrections under Law on the Management of Resources from the European Structural and Investment Funds, in force as from 31 March 2017, adopted by Council of Ministers Decree No 57 of 28 March 2017

• National Regulation No N-3 of 22 May 2018 laying down the rules on payments, on verification and certification of costs, on the recovery and withdrawal of unlawful costs and on their accounting, and on the time periods and rules on annual closure of accounts in Operational Programmes and the European Territorial Cooperation Programmes

State Aid

Detailed information on European Union legal acts is available on the Website of the European Commission at: http://ec.europa.eu/regional_policy/index.cfm/en/information/legislation/

For further information, please visit: https://ec.europa.eu/regional_policy/information-sources/legislation-and-guidance_en/