HTML PUBLIC "-//W3C//DTD HTML 4.01 Transitional//EN"L 317/24
EN
Official Journal of the European Union
30.11.2011
COMMISSION IMPLEMENTING REGULATION (EU) No 1236/2011
of 29 November 2011
amending Regulation (EC) No 1828/2006 as regards investments through financial engineering
instruments
THE EUROPEAN COMMISSION,
(5) Such
measures
should
apply
only
to
repayable
investments made or guarantees for repayable
investments provided after the entry into force of this
Regulation, as part of an investment strategy foreseen by
Having regard to the Treaty on the Functioning of the European
the funding agreements concerned. For funding
Union,
agreements concluded before the entry into force of
this regulation, transitional provisions should be
foreseen requiring respective adjustments of the
investment strategy.
Having regard to Council Regulation (EC) No 1083/2006 of
11 July 2006 laying down general provisions on the
European Regional Development Fund, the European Social
(6) The
Coordination
Committee
of
the
Funds
has
not
Fund and the Cohesion Fund and repealing Regulation (EC)
delivered an opinion, as a result of the voting, on the
No 1260/1999 ( 1 ), and in particular the third paragraph of
measures provided for in this Regulation,
Article 44 thereof,
HAS ADOPTED THIS REGULATION:
Whereas:
Article 1
Article 45 of Regulation (EC) No 1828/2006 is replaced by the
(1) The
economic
crisis
continues
to
affect
the
Union
as following:
never before and requires new efforts to achieve
sustainable growth and jobs.
‘Article 45
Additional provisions applicable to financial engineering
(2) Investments
in
enterprises
contribute
to
boost
growth,
to
instruments for enterprises
strengthen competitiveness and to create jobs.
Financial engineering instruments for enterprises referred to
in Article 43(1)(a) shall invest only in activities which the
managers of the financial engineering instruments judge
(3)
It is necessary to reinforce the measures to support enter
potentially economically viable.
prises. Such measures should allow for a wider access of
enterprises to investments through financial engineering
instruments covered by Article 43(1)(a) of Commission
They shall not invest in firms in difficulty within the meaning
Regulation (EC) No 1828/2006 of 8 December 2006
of the Community Guidelines on State aid for rescuing and
setting out rules for the implementation of Council Regu
restructuring firms in difficulty (*) as of 10 October 2004.
lation (EC) No 1083/2006 laying down general
provisions on the European Regional Development
Fund, the European Social Fund and the Cohesion Fund
___________
and of Regulation (EC) No 1080/2006 of the European
(*) OJ C 244, 1.10.2004, p. 2.’.
Parliament and of the Council on the European Regional
Development Fund ( 2 ), and not only in enterprises which
are at the stages of establishment, in the early stages, or
on expansion.
Article 2
Funding agreements concluded before 1 December 2011 may
be amended in order to include new repayable investments or
(4) Such
investments
should
be
made
only
in
activities new guarantees for repayable investments in accordance with
which the managers of the financial engineering
Article 45 of Regulation (EC) No 1828/2006. Such
instruments judge potentially economically viable,
amendments shall include the adjusted investment strategy
hence, should be limited to situations where the lack
referred to in Article 43(3)(a) of that Regulation.
of liquidity provided by the financial sector threatens
the continuation of business activities of economically
viable enterprises.
Article 3
( 1 ) OJ L 210, 31.7.2006, p. 25.
This Regulation shall enter into force on the day following its
( 2 ) OJ L 371, 27.12.2006, p. 1.
publication in the Official Journal of the European Union.

---

EN
30.11.2011 Official
Journal
of
the
European
Union L
317/25
This Regulation shall be binding in its entirety and directly applicable in all Member States.
Done at Brussels, 29 November 2011.
For the Commission
The President
José Manuel BARROSO

---