Aid to shipbuilding: prolongation of the 7th directive to the 31/12/98

OBJECTIVE: to amend Regulation (EC) No 3094/95 and to extend the application of the relevant provisions of the seventh Council Directive on aid to shipbuilding. CONTENT: given the uncertainty surrounding the entry into force of the OECD Agreement on normal competitive conditions in the commercial shipbuilding and repair industry and the fact that it may be postponed until after 31 December 1997, the Council must take the measures needed pending a decision on a new regime for aid to shipbuilding. The Commission therefore proposes to extend the application of the current European rules on aid to shipbuilding, which were due to expire by 31 December 1998.�