Criteria for determining management costs and fees on the basis of performance
Article 12
1. The managing authority shall calculate management costs and fees which can be declared as eligible expenditure pursuant to Article 42(1)(d) of Regulation (EU) No 1303/2013 on the basis of the following performance based criteria as referred to in Article 42(5) of that Regulation: (a) the disbursement of contributions provided by the ESI Funds programme; (b) the resources paid back from investments or from the release of resources committed for guarantee contracts; (c) the quality of measures accompanying the investment before and after the investment decision to maximise its impact; and (d) the contribution of the financial instrument to the objectives and outputs of the programme. 2. The managing authority shall inform the monitoring committee set up in accordance with Article 47 of Regulation (EU) No 1303/2013 of the provisions regarding the performance-based calculation of management costs incurred or of the management fees of the financial instrument. The monitoring committee shall receive reports on an annual basis on the management costs and fees effectively paid in the preceding calendar year.