Commission Implementing Decision of 11 September 2014 on the model of funding agreement for the contribution of the European Regional Development Fund and the European Agricultural Fund for Rural Development to joint uncapped guarantee and securitisation financial instruments in favour of small and medium-sized enterprises (2014/660/EU)

[F1 ANNEX 2 Exclusion criteria for Financial Intermediaries and Final Recipients and eligibility Criteria for the EU contribution U.K.

1. EXCLUSION CRITERIA FOR FINANCIAL INTERMEDIARIES U.K.

Financial Intermediaries that are in one of the situations below, provided that such situation would, in the professional opinion of EIF, affect their ability to implement a Financial Instrument, shall not be selected:

1.

they are bankrupt or being wound up, are having their affairs administered by the courts, are the subject of proceedings concerning those matters, or are in any analogous situation arising from a similar procedure provided for in national legislation or regulations;

2.

they have been convicted of an offence concerning their professional conduct by a judgment which has the force of res judicata, which would affect their ability to implement a Transaction;

3.

they have been the subject of a judgment which has force of res judicata for fraud, corruption, involvement in a criminal organisation or any other illegal activity, in each case where detrimental to the Union's financial interests;

4.

they are guilty of material misrepresentation in supplying information required for selection as a Financial Intermediary;

5.

they are listed in the central exclusion database referred to in Article 9.5(e);

6.

they are incorporated in territories whose jurisdictions do not cooperate with the Union in relation to the application of the internationally agreed tax standard, or their tax practices do not follow the principles of the Commission Recommendation of 6 December 2012 regarding measures intended to encourage third countries to apply minimum standards of good governance in tax matters (C(2012) 8805);

7.

their business activity does not comply with the EIF policy in relation to restricted sectors.

Points 2 and 3 shall not apply, where the Financial Intermediaries can demonstrate to EIF's satisfaction that adequate measures have been adopted against the persons having power of representation, decision-making or control over them, who are subject to a judgement as referred to in Points 2 and 3.

2. EXCLUSION CRITERIA FOR FINAL RECIPIENTS U.K.

Final Recipients may not be selected by Financial Intermediaries if they meet one or more of the requirements set out below:

1.

they are not potentially economically viable;

2.

they are incorporated in territories whose jurisdictions do not cooperate with the Union in relation to the application of the internationally agreed tax standard, or their tax practices do not follow the Commission Recommendation of 6.12.2012 regarding measures intended to encourage third countries to apply minimum standards of good governance in tax matters (C(2012)8805);

3.

they are bankrupt or being wound up, are having their affairs administered by the courts, are the subject of proceedings concerning those matters, or are in any analogous situation arising from a similar procedure provided for in national legislation or regulations;

4.

they have been convicted of an offence concerning their professional conduct by a judgment which has the force of res judicata, which would affect their ability to pursue their business activity;

5.

they have been the subject of a judgment which has force of res judicata for fraud, corruption, involvement in a criminal organisation or any other illegal activity, in each case where detrimental to the Union's financial interests;

6.

they are guilty of misrepresentation in supplying information required for selection as a Final Recipient;

7.

they are listed in the central exclusion database set up and operated by the Commission under Regulation (EC, Euratom) No 1302/2008;

8.

their business activity consists of one or more of the following:

(a)

an illegal economic activity (i.e. any production, trade or other activity, which is illegal under the laws or regulations applicable to the Financial Intermediary or the relevant Final Recipient, including without limitation, human cloning for reproduction purposes);

(b)

the production of and trade in tobacco and distilled alcoholic beverages and related products;

(c)

the financing of the production of and trade in weapons and ammunition of any kind or military operations of any kind;

(d)

casinos and equivalent enterprises;

(e)

internet gambling and online casinos;

(f)

pornography and prostitution;

(g)

nuclear energy;

(h)

activities referred to in Article 19 of H2020 Regulation;

(i)

the research, development or technical applications relating to electronic data programs or solutions, which aim specifically at supporting any activity referred to under items (a) to (h) above or are intended to enable to illegally enter into electronic data networks or download electronic data.

9.

their business activity does not comply with the EIF policy in relation to restricted sectors;

10.

they received New Debt Finance which does not respect the cumulation rules laid down in the relevant de minimis Regulation;

11.

they received aid to export-related activities towards third countries or Member States, namely aid directly linked to the quantities exported, to the establishment and operation of a distribution network or to other current expenditure linked to the export activity;

12.

they received aid contingent upon the use of domestic over imported goods.

3. ELIGIBILITY CRITERIA FOR THE EU CONTRIBUTION U.K.

3.1. Eligibility criteria for the EU Contribution to the COSME Financial Instruments [to be provided under the specific Funding Agreements, subject to agreement between the Commission and the EIF, in the Delegation Agreement for COSME]. U.K.

3.2. Eligibility criteria for the EU Contribution to the H2020 Financial Instruments [to be provided under the specific Funding Agreements, subject to agreement between the Commission and the EIF, in the Delegation Agreement for H2020].] U.K.

Textual Amendments

F1 Decision revoked in part (31.12.2020) by The European Structural and Investment Funds Common Provisions Rules etc. (Amendment etc.) (EU Exit) Regulations 2019 (S.I. 2019/783), reg. 10(c); 2020 c. 1, Sch. 5 para. 1(1)