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The specialised vessels must be specially and technically designed to carry a single type of goods and technically unsuitable for carrying other goods, it must be impossible to carry this single type of goods in vessels without special technical installations and the owners of the vessels must give a written undertaking that no other goods will be carried in their vessels as long as the ‘old-for-new’ rule applies.

1. Vessels covered by this Regulation, whether newly constructed, imported from a third country or due to leave the waterways mentioned in Article 2(2)(a), (b) or (c), may be brought into service subject to the condition (the ‘old-for-new’ rule) that the owner of the vessel to be brought into service:

— either scraps, without receiving a scrapping premium, tonnage in line with the ratio between old and new tonnage set by the Commission,

— or pays into the Fund covering the new vessel, or into the Fund chosen by the vessel-owner in accordance with Article 5(2), a special contribution based on the abovementioned ratio or, if the owner scraps a tonnage smaller than required by the abovementioned ratio, pays the difference between the tonnage of the new vessel and the tonnage scrapped.

2. The ratio may be set at different levels for different sectors of the market, i.e. dry cargo carriers, tanker vessels and pusher craft. The ratio shall be constantly reduced to bring it as quickly as possible and in regular stages to zero no later than 29 April 2003.

Once the ratio has been set at zero, the arrangements shall become a standby mechanism and may be reactivated only in the event of a serious disturbance of the market, as provided for by Article 6.

3. The owner of the vessel must have the choice between paying the special contribution or scrapping old tonnage:

— either at the time that the firm order for construction of the new vessel is placed or at the time the application for import is lodged, provided the vessel is brought into service within twelve months thereafter,

— or at the time that the new or imported vessel is brought into service. The choice of time must be stated when ordering or applying to import the vessel. The vessel offered for scrapping as compensatory tonnage must have been scrapped before the new vessel is brought into service. Owners of vessels to be brought into service who have a higher tonnage than necessary scrapped shall receive no financial compensation for this surplus.

Any Member State concerned may permit vessels definitively withdrawn from the market for use for purposes other than the carriage of goods, such as vessels for humanitarian purposes, museum ships, vessels for developing countries outside Europe or vessels placed at the disposal of non-profit-making bodies, to be counted as compensatory tonnage, i.e. treated as if they had been scrapped. It shall communicate such permission to the Commission, which shall inform the other Member States concerned.

4. In the case of pusher craft, the concept of ‘tonnage’ shall be replaced by that of ‘motive power’.

5. The conditions laid down in paragraph 1 shall also apply to increases in capacity resulting from the lengthening of a vessel or the replacement of pusher-craft engines.

6. After consulting the Member States and the organisations representing inland waterway transport at Community level, the Commission may exempt specialised vessels from the scope of paragraph 1.