Agricultural products: measures for the benefit of Canary Islands (amend. Regulation (EEC) No 1601/92)

PURPOSE : to provide structural assistance for the Canary Islands with regard to certain agricultural products. COMMUNITY MEASURE : Council Regulation 1450/2001/EC amending Regulation 1601/92/EEC concerning specific measures for the Canary Islands with regard to certain agricultural products as regards the structural measures. CONTENT : The structures of certain agricultural holdings or processing or marketing enterprises located in outermost regions of the Union, and specifically the Canary Islands show serious shortcomings. Accordingly, provision is made for derogations for some types of investments from the provisions limiting the grant of some structural aid provided for in Regulation 1257/1999/EC. The Community financial contribution for all four of the accompanying measures in that regulation, including agri-environmental measures, is 85% for all areas covered by Objective 1. Regulation 1601/92 is amended so that the total value of aid will not exceed 75% for investments intended to encourage diversification, restructuring or a shift towards sustainable agriculture on agricultural holdings of small economic size. The total value of aid will not exceed 65% for investments in enterprises engaged in processing and marketing agricultural products consisting mainly of local producein certain sectors. The total value of aid for SMEs will not exceed 75%. ENTRY INTO FORCE : Applicable from 01/01/2001.�