Legal provisions of COM(2020)484 - Commitment of the funds stemming from reflows under the ACP Investment Facility from operations under the 9th, 10th and 11th European Development Funds - Main contents
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dossier | COM(2020)484 - Commitment of the funds stemming from reflows under the ACP Investment Facility from operations under the 9th, 10th and 11th ... |
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document | COM(2020)484 |
date | December 23, 2020 |
Article 1
Article 2
2. Without prejudice to the decisions to be taken with respect to the subsequent multiannual financial frameworks, after 31 December 2027, and until the depletion of the reflows, the funds stemming from reflows shall constitute contributions to subsequent Union external financing instruments which replace the external financing instrument.
3. For the purposes of this Decision, ‘reflows’ means any income, including dividends, capital gains, guarantee fees and interest on loans, on amounts on any account opened for the purpose of recording cash held for the account of the ACP Investment Facility. It also means remuneration from treasury investments, and repayments, including capital repayments, guarantees released and repayment of the principal of loans resulting from operations under the ACP Investment Facility. Funds stemming from the decommitment of reflows shall also be considered to be reflows.
4. Reflows shall be subject to the applicable rules and procedures of the external financing instrument.
Article 3
Article 4
It shall apply from 1 January 2021, except for Article 2, which shall apply from 1 July 2021 or from the entry into force of a regulation establishing the external financing instrument, whichever is the later.