35. Protocol on the financial consequences of the expiry of the Treaty establishing the European Coal and Steel Community and on the Research Fund for Coal and Steel
THE HIGH CONTRACTING PARTIES,
RECALLING that all assets and liabilities of the European Coal and Steel Community, as they existed on 23 July 2002, were transferred to the European Community on 24 July 2002;
TAKING ACCOUNT of the desire to use these funds for research in sectors related to the coal and steel industry and therefore the necessity to provide for certain special rules in this regard,
HAVE AGREED UPON the following provisions, which shall be annexed to the Treaty establishing a Constitution for Europe:
ARTICLE 1
1. The net worth of the assets and liabilities of the European Coal and Steel Community, as they appear in the balance sheet of the European Coal and Steel Community of 23 July 2002, subject to any increase or decrease which may occur as a result of the liquidation operations, shall be considered as Union assets intended for research in sectors related to the coal and steel industry, referred to as the "European Coal and Steel Community in liquidation". On completion of the liquidation they shall be referred to as the "Assets of the Research Fund for Coal and Steel".
2. The revenue from these assets, referred to as the "Research Fund for Coal and Steel", shall be used exclusively for research, outside the research framework programme, in sectors related to the coal and steel industry in accordance with this Protocol and with acts adopted under it.
ARTICLE 2
1. A European law of the Council shall lay down all the necessary provisions for the implementation of this Protocol, including essential principles. The Council shall act after obtaining the consent of the European Parliament.
2. The Council shall adopt, on a proposal from the Commission, the European regulations or decisions establishing multiannual financial guidelines for managing the assets of the Research Fund for Coal and Steel and technical guidelines for the research programme of the Research Fund for Coal and Steel. It shall act after consulting the European Parliament.
ARTICLE 3
Except as otherwise provided in this Protocol and in the acts adopted under it, the provisions of the Constitution shall apply.
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