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Council Regulation for a financial instrument for the environment (LIFE)

A financial instrument for the environment (LIFE) has been established by Council Regulation (EEC) No 1973/92 of 21 May 1992.

The total budget deemed necessary for the period 1991 to 1995 is ECU 400 million and, of that, 140 million for the period 1991-1992. The general objec...
A financial instrument for the environment (LIFE) has been established by Council Regulation (EEC) No 1973/92 of 21 May 1992.

The total budget deemed necessary for the period 1991 to 1995 is ECU 400 million and, of that, 140 million for the period 1991-1992. The general objective of LIFE is to contribute to the development and implementation of Community environmental policy and legislation by financing priority environmental actions within the Community and technical assistance actions with third countries from the Mediterranean region or bordering the Baltic Sea.

Financial assistance will be provided to co-finance actions or in the form of interest rebates, depending on the nature of the operations to be carried out. The assistance will cover preparatory measures, demonstration schemes, awareness campaigns and actions providing incentives or technical assistance. Included are the measures necessary for the conservation of natural habitats and of wild fauna and flora, as set forth in Council Directive 92/43/EEC of 21 May 1992 (adopted and published on the same date as the present Regulation).

Proposals for actions to be financed may be submitted to the Commission by the Member States or by the relevant national authorities of third countries. Alternatively, the Commission may ask any legal or natural persons established in the Community to submit applications for assistance in respect of measures of particular interest to the Community by means of a notice published in the Official Journal. This Regulation repeals Regulation (EEC) No 563/91 (MEDSPA), Regulation (EEC) No 3907/91 (ACNAT) and Regulation (EEC) No 3908/91 (NORSPA).

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