DECISION OF THE STANDING COMMITTEE OF THE EFTA STATES

No 3/2010/SC

of 1 July 2010

on internal cost sharing

THE STANDING COMMITTEE OF THE EFTA STATES,

HAS DECIDED AS FOLLOWS:

Article 1

The contributions of Iceland, Liechtenstein and Norway (hereinafter referred to as the EFTA States) to the EEA Financial Mechanism for the period 2009-2014 are to be divided into five annual tranches and determined on the basis of Article 2.

Article 2

1. The contributions of the EFTA States to the EEA Financial Mechanism for the period 2009-2014 are based on their Gross Domestic Products (GDP).

2. For any EFTA State, the contribution for a specific financial year t is to be based on the available GDP data for the year t-2 and corresponds to that States‘�share of GDP (t-2) in the overall GDP (t-2) of the EFTA States.

3. For Iceland, the contribution to each of the five annual tranches may not exceed the amount of EUR 6,795 million.

If Iceland‘檚 contribution for a specific financial year t, calculated on Iceland‘檚 share of GDP (t-2) in the overall GDP (t-2) of the EFTA States, should exceed the amount of EUR 6,795 million, Liechtenstein and Norway shall be obliged to cover the excessive sum in proportion to their respective shares of GDP (t-2).

4. The respective GDP data on which the contributions for a specific year t are to be based shall be delivered annually by each EFTA States by 1 March. They shall relate to the year t-2.

5. Contributions shall be expressed in euros.

Article 3

The accession of an EFTA State to the EU shall not affect its obligation to contribute to the EEA Financial Mechanism for the period 2009-2014 in accordance with this Decision.

Article 4

This Decision shall take effect on the day of entering into force or on the day of provisional application of the legal act establishing the EEA Financial Mechanism for the period 2009-2014.

Article 5

This Decision shall be published in the EEA Section of, and in the EEA Supplement to, the Official Journal of the European Union.