PART II U.K. PROVISIONS COMMON TO THE FOUR FUNDS

CHAPTER 2 U.K. Management and control systems

Article 12 U.K. Determination of the final Community contribution

For calculation of the final payment to the final beneficiary, the total Community contribution to each project shall be the lowest of the following three amounts:

(a)

the maximum amount stated in the grant agreement;

(b)

the maximum co-financing resulting from multiplication of the total eligible costs of the project concerned by the percentage laid down in Article 13(4) of the basic act (i.e. 50 % or 75 %); and

(c)

the amount resulting from application of the principle of non-profit, as defined in point I.3.3 of Annex XI.