Common use of Reallocation of Funds Clause in Contracts

Reallocation of Funds. 1. Project grants that have not been fully utilized, project grants that have been cancelled due to irregularities or for other reasons, and funds uncommitted upon closure of calls for proposals, may be reallocated to future calls for proposals; to projects placed on a reserve list as a result of a previous selection process; or to additional activities of already-approved projects, provided that these additional activities contribute to the project objectives. 2. Reallocation of savings and uncommitted funds for other purposes than those described in paragraph 1 shall be consulted with the FMO. 3. Any decision of the Fund Operator to reallocate funds referred to in paragraph 1 to additional activities of already approved projects shall be based on recommendations by the Selection Committee. The Selection Committee shall base its recommendations on transparent and objective criteria. By applying these criteria, the Selection Committee shall ensure equal treatment of all project promoters. 4. The criteria shall be made available on the website of the Fund Operator no later than one month prior to any decision to reallocate funds according to paragraph 3. 5. Project promoters shall be informed in writing without delay when such criteria have been published on the website.

Reallocation of Funds. ‌ 1. Project grants that have not been fully utilized, project grants that have been cancelled due to irregularities or for other reasons, and funds uncommitted upon closure of calls for proposals, may be reallocated to future calls for proposals; to projects placed on a reserve list as a result of a previous selection process; or to additional activities of already-approved projects, provided that these additional activities contribute to the project objectives. 2. Reallocation of savings and uncommitted funds for other purposes than those described in paragraph 1 shall be consulted with the FMO. 3. Any decision of the Fund Operator to reallocate funds referred to in paragraph 1 to additional activities of already approved projects shall be based on recommendations by the Selection Committee. The Selection Committee shall base its recommendations on transparent and objective criteria. By applying these criteria, the Selection Committee shall ensure equal treatment of all project promoters. 4. The criteria shall be made available on the website of the Fund Operator no later than one month prior to any decision to reallocate funds according to paragraph 3. 5. Project promoters shall be informed in writing without delay when such criteria have been published on the website.