Article 8
1. A grant shall be used within one year of the date on which the Commission has disbursed the grant. Any part of a grant remaining unused by that deadline, in compliance with the terms of this Regulation, shall be recovered by the Commission from the beneficiary State. Beneficiary States shall seek all possible compensation from third parties. 2. No later than six months after the expiry of the one-year period from the date of disbursement of the grant, the beneficiary State shall present a report on the financial execution of the grant with a statement justifying the expenditure, indicating any other source of funding received for the operations concerned, including insurance settlements and compensation from third parties. The report shall detail the preventive measures introduced or proposed by the beneficiary State in order to limit damage and to avoid, to the extent possible, a recurrence of similar disasters. At the end of this procedure, the Commission shall wind up the assistance from the Fund. 3. Where the cost of repairing the damage is subsequently met by a third party, the Commission shall require the beneficiary State to reimburse a corresponding amount of the grant.