Mutual financial support
Article 5
1. With a view to entering in the accounts the resources available in the reserve fund or to operating the mutual financial support arrangements between the accounts of the various funds as required pursuant to Article 3(6) of Regulation (EC) No 718/1999, each fund shall communicate the following information to the Commission at the beginning of each year: (a) the fund's receipts in the previous year, in so far as these receipts are intended for the payment of scrapping premiums or measures provided for in Article 8 of Regulation (EC) No 718/1999 (R dn ); (b) the financial commitments incurred by the fund during the previous year in respect of scrapping premiums or measures provided for in Article 8 of Regulation (EC) No 718/1999 (P n ); (c) the fund's surplus as at 1 January of the previous year deriving from receipts intended for the payment of scrapping premiums or measures provided for in Article 8 of Regulation (EC) No 718/1999 (S n ). 2. The Commission, with the assistance of the fund authorities, shall determine, on the basis of the information referred to in paragraph 1: (a) the total financial commitments incurred by the funds during the previous year in respect of scrapping premiums or measures provided for in Article 8 of Regulation (EC) No 718/1999 (P t ); (b) the total receipts of all the funds during the previous year (R dt ); (c) the total surplus of all the funds on 1 January of the previous year (S t ); (d) the adjusted annual financial commitment of each fund (P nn ), calculated as follows: P nn = (P t /(R dt + S t )) × (R dn + S n ); (e) for each fund, the difference between annual financial commitments (P n ) and annual adjusted financial commitments (P nn ); (f) the sums which each fund whose annual commitments are less than the annual adjusted financial commitments (P n < P nn ) transfers to a fund with annual financial commitments greater than the annual adjusted commitments (P n > P nn ). 3. Each of the funds involved shall transfer the sums referred to in point (f) of paragraph 2 to the other funds by 1 March of the current year.