4. in Article 18, the following paragraph shall be added:"The allocation of funds shall be linked to the qualitative and quantitative level of implementation".

to retain an across-the-board reduction in commitment and payment appropriations requested in the PDB by an amount of EUR 150 million under budget heading of sub-Heading 1a where the appropriations are greater than EUR 50 million, apart from three headings related to CAP reform; this reduction is in line with the overall approach of controlled growth in payment appropriations, in which it is proposed to include compulsory expenditure (sub-Heading 1a) and non-compulsory expenditure (other headings); to accept the Commission's PDB as regards appropriations for rural development (sub-Heading 1b); to accept the revisi ...[+++]on of the Financial Perspective transferring in 2006 an amount of EUR 655 million from sub-Heading 1a to sub-Heading 1b for agricultural modulation; the margin available under Heading 1 would be EUR 1 355.68 million.

3. Member States shall require that for natural or legal persons working for an investment firm or a credit institution, under a contract of employment or otherwise, and who were involved in preparing the recommendation, the requirement under the second subparagraph of paragraph 1 of Article 5 shall include, in particular, disclosure of whether the remuneration of such persons is tied to investment banking transactions performed by the investment firm or credit institution or any related legal person.

Under the agreement, all measures of support specifically provided to commercial shipbuilding are prohibited except: - aid for research and development; - social aid related to closures; - export credits for ships in accordance with the revised OECD Understanding on Export Credits for ships; - domestic credits under equivalent terms and conditions.

The UK notification covers the following aid schemes that were previously approved under the Seventh Directive: A. Concerning operating aid a) Shipbuilding Intervention Fund : Contract related direct production aid to yards in the form of grants. b) Shipbuilders' Relief : Grants amounting to 2% of the contract price covering reimbursement of duties applicable to hydrocarbon oil and vehicle excise licenses, where such costs enter into the costs of constructing, fitting out and equipping the vessel. c) Home Credit and Export Credit Guarantees : Indirect production aid by credit facilities for UK shipowners and foreign shipowners at 80% of ...[+++]eligible ship costs over 8.5 years at 7 1/2% interest rate net of charges, equal to 8% gross.

The 1989 budget will be financed entirely by the new system of own resources agreed by the European Council (2) Generally speaking, the preliminary draft shows a relatively small increase in relation to the 1988 budget: + 5.7% in commitment appropriations + 5.9% in payment appropriations The main reason for this is that the increase in expenditure on guaranteeing agricultural markets has been kept within the guideline and repayments to the Member States have dropped sharply (3) The 1989 budget will be the first to have been prepared and discussed after the European Council of 11-13 February 1988 and to give the initial practical effect t ...[+++]o its objectives in budgetary terms.