Regulation (EU) 2015/1017 of the European Parliament and of the CouncilShow full title

CHAPTER I U.K. INTRODUCTORY PROVISIONS

Article 1 U.K. Subject matter

1. This Regulation establishes a European fund for strategic investments (EFSI), an EU guarantee and an EU guarantee fund. In addition, this Regulation establishes a European investment advisory hub (EIAH) and a European investment project portal (EIPP).

2. For the purposes of paragraph 1, this Regulation provides for the Commission to conclude an agreement with the European Investment Bank (EIB) on the EFSI and an agreement with the EIB on the implementation of the EIAH.

Article 2 U.K. Definitions

For the purposes of this Regulation, the following definitions apply:

(1)

‘EFSI Agreement’ means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the management of the EFSI;

(2)

‘EIAH Agreement’ means the legal instrument whereby the Commission and the EIB specify the conditions laid down in this Regulation for the implementation of the EIAH;

(3)

‘national promotional banks or institutions’ means legal entities carrying out financial activities on a professional basis which are given a mandate by a Member State or a Member State's entity at central, regional or local level, to carry out development or promotional activities;

(4)

‘investment platforms’ means special purpose vehicles, managed accounts, contract-based co-financing or risk-sharing arrangements or arrangements established by any other means by which entities channel a financial contribution in order to finance a number of investment projects, and which may include:

(a)

national or sub-national platforms that group together several investment projects on the territory of a given Member State;

(b)

[F1 cross-border, multi-country, regional or macro-regional platforms that group together partners from several Member States, regions or third countries interested in projects in a given geographic area;]

(c)

thematic platforms that group together investment projects in a given sector;

(5)

‘small and medium-sized enterprises’ or ‘SMEs’ means micro, small and medium-sized enterprises as defined in Article 2 of the Annex to Commission Recommendation 2003/361/EC(1);

(6)

‘small mid-cap companies’ means entities having up to 499 employees that are not SMEs;

(7)

‘mid-cap companies’ means entities having up to 3 000 employees that are not SMEs or small mid-cap companies;

(8)

‘additionality’ means additionality as defined in Article 5(1).

Textual Amendments

F1 Substituted by Regulation (EU) 2017/2396 of the European Parliament and of the Council of 13 December 2017 amending Regulations (EU) No 1316/2013 and (EU) 2015/1017 as regards the extension of the duration of the European Fund for Strategic Investments as well as the introduction of technical enhancements for that Fund and the European Investment Advisory Hub.

(1)

Commission Recommendation 2003/361/EC of 6 May 2003 concerning the definition of micro, small and medium-sized enterprises (OJ L 124, 20.5.2003, p. 36).