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1. The EMFF may provide business start-up support to young fishermen.

2. Support under this Article may be granted only in respect of the first acquisition of a fishing vessel:

(a) with an overall length of less than 24 metres;

(b) which is equipped for sea fishing;

(c) which is between 5 and 30 years old; and (d) which belongs to a fleet segment for which the report on fishing capacity, referred to in Article 22(2) of Regulation (EU) No 1380/2013, has shown a balance with the fishing opportunities available to that segment.

3. For the purpose of this Article, the term ‘young fisherman’ means a natural person who seeks to acquire a fishing vessel for the first time and who, at the moment of submitting the application, is under 40 years of age and who has worked for at least five years as fisherman, or has acquired equivalent vocational training. Member States may define further objective criteria to be met by young fishermen in order to be eligible for support under this Article.

4. The support under this Article shall not exceed 25 % of the acquisition cost of the fishing vessel and shall in any event not be higher than EUR 75 000 per young fisherman.