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(5) In accordance with paragraph 12, second paragraph, of the Interinstitutional Agreement, the amounts to be earmarked for all the measures covered by heading 2 "Structural operations" of the financial perspective do not allow for a margin.

(6) The conditions for the use of the Flexibility Instrument, as set out in paragraph 24 of the Interinstitutional Agreement, are therefore met, HAVE DECIDED AS FOLLOWS:

Whereas:

(1) Following the non-renewal of the Fisheries Agreement between the European Union and the Kingdom of Morocco, the Nice European Council called on the Commission to put forward proposals with a view to restructuring the Community fleet which operated in Moroccan waters.

(2) The targeted measure for the conversion of the Spanish and Portuguese fleets proposed by the Commission on 18 July 2001, valued at EUR 197 million, provides for measures similar to those financed by the Financial Instrument for Fisheries Guidance (FIFG) and is modelled on its working methods, although it proposes special arrangements for the fleets concerned.

(3) This measure comes under heading 2 "Structural operations", subheading "Structural Funds", of the financial perspective and supplements the compensatory amounts earmarked in this context since January 2000.

(4) Measures to assist regions bordering on the applicant countries are planned with a budget of EUR 30 million in 2002 under heading 2 "Structural operations" as part of the Community initiative Interreg.