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Whereas an Agreement on the European Economic Area was negotiated between the European Economic Community, the European Coal and Steel Community and their Member States, on the one hand, and the EFTA States, on the other, and was signed in Oporto on 2 May 1992; Whereas, following Switzerland's non-ratification of that Agreement, the European Economic Community, the European Coal and Steel Community and their Member States, on the one hand, and the Republic of Austria, the Republic of Finland, the Republic of Iceland, the Principality of Lichtenstein, the Kingdom of Norway and the Kingdom of Sweden, on the other, signed a Protocol on 17 March 1993 amending the Agreement on the European Economic Area and the Agreement and the Protocol are hereinafter referred to as 'the EEA Agreement'; Whereas it is necessary to establish the arrangements for implementing various provisions of the EEA Agreement; Whereas the EEA Agreement provides for an EEA Joint Committee with decision-making powers; whereas, since the Community will have to state its views within that Committee, it is necessary to lay down rules of procedure for deciding on the position the Community will adopt;

Whereas provisional Rules of Procedure must be laid down to incorporate the acquis communautaire as close as possible to the date of entry into force of the EEA Agreement, in good time to secure the objective of the EEA Agreement, namely to establish a dynamic and homogenous European Economic Area; Whereas implementing rules must also be provided for in the field of competition, to enable in particular the principles governing the application of competition law, on the basis of Articles 85 and 86 of the EC Treaty, to be applied mutatis mutandis to the EEA; Whereas, given the special nature of the Banking Advisory Committee set up by Article 11 of Directive 77/780/EEC (2) and of the Insurance Committee set up by Directive 91/675/EEC (3), specific rules must be laid down for consulting them;

Whereas, in accordance with the EEA Agreement, a financial mechanism has been established by the EFTA States and whereas it is necessary to lay down the method for determining the allocation of grants and interest rebates on loans to each recipient Member State in accordance with Protocol 38 of the EEA Agreement; whereas this allocation is specific to the EEA framework and the criteria chosen in no way prejudice the criteria applicable to Community Funds; Whereas the Agreements concluded by the Community bind its institutions and its Member States; whereas the latter must therefore take any measures necessary to enable the Community to fulfil its obligations under the EEA Agreement, HAS ADOPTED THIS REGULATION: