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Regulation (EC) No 67/2010 of the European Parliament and of the Council (repealed)Show full title

Regulation (EC) No 67/2010 of the European Parliament and of the Council of 30 November 2009 laying down general rules for the granting of Community financial aid in the field of trans-European networks (codified version) (repealed)

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1.Conditions for a Community contribution to risk capital

Applications for financial aid under Article 3 (1)(e) shall include the following information, satisfactory to the Committee referred to in Article 18(1), as a basis for decisions to grant aid:

  • an information memorandum containing the main provisions of the statutory documentation of the fund including its legal and management structure,

  • its detailed investment guidelines including information on target projects,

  • information on the involvement of private investors,

  • information on geographical coverage,

  • information on the financial viability of the fund,

  • information on the rights of the investors to take remedial action in the event that the undertakings given to them are not honoured by the fund,

  • information on the exit policies of the fund and arrangements for the termination of the fund,

  • rights of representation in the committees of investors.

Before the decision to grant aid, the intermediary investment fund or other comparable financial institution must undertake to invest not less than a sum equivalent to two and a half times the Community contribution, into projects previously identified as projects of common interest in accordance with Article 155(1), first subparagraph, first indent, of the Treaty.

Community aid for investment funds or comparable financial undertakings, if granted in the form of a risk-capital participation, shall be granted, in principle, only if the Community contribution ranks pari passu in terms of risk with other investors in the fund.

Recipient investment funds or comparable financial undertakings have to follow sound financial principles.

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