Interpretation
2.—(1) In these regulations—
“application” means an application for payment for financial assistance under regulation 6(1);
“approval” means an approval granted under regulation 7 and includes the terms and conditions subject to which such approval has been given;
“the Commission” means the Commission of the European Communities;
“Commission Regulation 498/2007” means Commission Regulation (EC) No 498/2007 of 26th March 2007(1) laying down detailed rules for the implementation of Council Regulation (EC) No 1198/2006 on the European Fisheries Fund;
“Community aid” means aid towards eligible expenditure available from the European Fisheries Fund payable in accordance with Council Regulation 1198/2006 and Commission Regulation 498/2007;
“Council Regulation 1198/2006” means Council Regulation (EC) No 1198/2006 of 27th July 2006(2) on the European Fisheries Fund;
“the Department” means the Department of Agriculture and Rural Development;
“grant” means a grant towards eligible expenditure payable under these regulations in addition to Community aid;
“LIBOR”, in relation to any particular day of the month, means the rate of interest per centum notified to the Department by the Bank of England on the first working day of that month, rounded if necessary to two decimal places;
“relevant operation” means an investment, project or action which is eligible for Community aid.
(2) The Interpretation Act (Northern Ireland) 1954(3) except section 20(2) and (3), shall apply to these Regulations as it applies to an Act of the Northern Ireland Assembly.