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3. Legal basis
4.
6.
1.
Existing legal basis
Description of operation
4.1 Objectives:
To establish cooperation to the advantage of both parties.
4.2 Duration:
The period of validity of the agreement (five years with automatic renewal each year).
4.3 Bodles concerned:
Economic operators and supervisory bodies from both parties.
Classification of expenditure
Non-compulsory
Type of expenditure
6.1 Nature:
Grants for various projects in the fields of cooperation covered by the Agreement.
6.2 Proportion of the total cost of the operation accounted for by the
Community contribution (in %):
To be decided on the merits of each separate case: In some cases, up to 100%.
Financial impact on appropriations for operations
7.1 Procedure for financing the operation during the course of the
current year:
Using existing appropriations
7.2 Schedule of commitment and payment appropriations:
Will depend on requests and be subject to approval by the Commission departments. Must remain within the limits of the appropriations allocated by the budgetary authority to the headings in questlon.
8. Anti-fraud measures planned in the proposal for the operation
9.
During implementation of the measures, the Macao authorities and the Commission will carry out the usual checks.
Observations
For future budgets, the level of expenditure arising from the cooperation agreement will determined using the usual procedure.