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European Regional Development Fund (FEDER) – Reduction in financial assistance – Application for annulment – Venture capital fund – Deadline for the completion of investment projects – Procedure – Principles of protection of legitimate expectations and legal certainty – Principle of proportionality – Statement of reasons – Action for damages
3. Acts of the institutions – Statement of reasons – Obligation – Scope (Art. 253 EC) (see points 97-102)
4. Non-contractual liability – Conditions – Commission decision reducing financial assistance from the European Regional Development Fund (Art. 288, second para., EC; Council Regulation No 4253/88) (see paras 116-118)
ANNULMENT of Commission Decision C(2006) 1706 of 20 April 2006 reducing the financial assistance from the European Regional Development Fund in favour of an overall allocation for the purpose of implementing measures to support small and medium-sized enterprises operating in the Basilicata Region of Italy, granted under the Community support framework for Community structural assistance in the regions of Italy covered by Objective 1, and application for damages for the harm caused by that decision.
The Court:
1.Dismisses the action;
2.Orders Italia Basilicata SpA to pay the costs.