Budgetary discipline: flexibility instrument, conversion of the Spanish and Portuguese fleets

PURPOSE : to use the flexibility instrument in order to fund the conversion of the Spanish and Portuguese fleets. COMMUNITY MEASURE : Decision 2003/133/EC of the European Parliament and of the Council on the mobilisation of the flexibility instrument according to point 24 of the Interinstitutional Agreement of 6 May 1999. CONTENT : Following the non-renewal of the fisheries agreement between the EU and Morocco, a specific action for the conversion of the Spanish and Portuguese fleets was decided for an amount of EUR 197 million. The flexibility instrument is required to provide the sum of EUR 12 008 240, since this amount is beyond the ceiling of heading 2 for 2003. This Regulation provides that: - for the 2003 budget, the flexibility instrument will be used to provide the sum of EUR 12 008 240 in commitment appropriations; - this amount will finance the targeted measure for the promotion of the conversion of vessels and of fishermen who were, until 1999, dependent on the fisheries agreement with Morocco, covered by the 'structural measures' heading of the financial perspectives, under line B2-2 0 0 of the 2003 budget.�