Press Release: Commission proposes new Regulation on de minimis aid specifically for fisheries

The European Commission on 22 June 2006 adopted a draft Regulation on de minimis aid in the fisheries sector. De minimis aid is state aid deemed not to distort competition. Under the new Regulation, which would apply only to the fisheries sector, the ceiling would be set at € 30 000 per three-year period, per beneficiary, on condition that the total amount of such aid represents less than 2.5% of the annual national fisheries output. None of this aid may be used to purchase or construct new vessels or to enhance existing fleet capacity. Member States have to record all relevant information to show that these conditions have been respected. The draft Regulation was to be sent to Member States for consultation before returning to the Commission for adoption.