EEA Agreement: arrangements for implementing the Agreement on the European Economic Area EEA

This proposal for a regulation sought to lay down certain arrangements for the implementation of the Agreement on the European Economic Area (EEA). These arrangements related to: - the procedure to be followed when a Member State or the Commission decided to apply the safeguard clauses envisaged by the EEA Agreement, - the rules to be applied in the field of competition, - the specific rules governing consultation of the Banking Advisory Committee and the Insurance Committee. Additional arrangements were set out to determine the procedure to be followed for the allocation of grants and interest rebates on loans to Member States benefiting from the financial mechanism established by the EEA Agreement. In this case, the Commission determined the share of each beneficiary region for a period of 5 years in the light of the region's level of economic development and population size. �