Council Regulation (EC) No. 2370/2002 establishing an emergency Community measure for scrapping fishing vessels. Country/Territory European Union Document type Legislation Date 2002 Source FAO, FAOLEX Original source Official Journal L 358, 31 December 2002, pp. 57–58 Subject Fisheries Keyword Fishing vessel Subsidy/incentive Geographical area European Union Countries Entry into force notes The Regulation entered into force on 1 January 2003. Abstract An emergency Community measure to assist Member States to achieve additional reductions in fishing effort resulting from recovery plans adopted by the Council is hereby instituted for the period from 2003 to 2006. The measure shall consist of a special incentive to provide Member States with funds to co-finance their additional needs to scrap fishing vessels affected by recovery plans. Full text English Website europa.eu