TNAG-2496-FCO40-3632-Relations-between-Hong-Kong-and-Macao-(Macau)-1992 — Page 147

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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.