Analysis of Commission Delegated and Implementing Regulations (EU) 2025
Commission Delegated Regulation (EU) 2025/1141
This regulation supplements Regulation (EU) 2023/1114 and establishes regulatory technical standards for policies and procedures addressing conflicts of interest for issuers of asset-referenced tokens. It requires issuers to implement measures to identify, prevent, manage, and disclose conflicts of interest. These measures include establishing written policies, communication channels, and appointing an independent person responsible for managing conflicts of interest. Issuers must disclose information on conflicts of interest to token holders, ensuring transparency and safeguarding their interests.
Commission Delegated Regulation (EU) 2025/1142
This regulation supplements Regulation (EU) 2023/1114 by specifying regulatory technical standards for policies and procedures regarding conflicts of interest for crypto-asset service providers (CASPs). It emphasizes identifying, preventing, managing, and disclosing conflicts of interest to protect CASPs and their clients. The regulation defines key terms and specifies circumstances that may affect the objectivity of connected persons. It requires CASPs to establish comprehensive policies, including those concerning remuneration and personal transactions, and to disclose conflicts of interest transparently.
Commission Delegated Regulation (EU) 2025/1140
Supplementing Regulation (EU) 2023/1114, this regulation details the record-keeping requirements for crypto-asset service providers (CASPs) regarding all crypto-asset services, activities, orders, and transactions. It ensures records are accessible, immutable, and analyzable for effective supervision by authorities. The regulation outlines specific record-keeping requirements for policies, procedures, client rights, and obligations, as well as for the safekeeping of clients’ crypto-assets and funds.
Commission Implementing Regulation (EU) 2025/1145
In response to the foot and mouth disease outbreak in Germany in January 2025, this regulation provides exceptional support measures for the milk and pigmeat sectors. It allows the EU to part-finance 60% of Germany’s expenditure to compensate for losses due to restrictions on movement and slaughter. Only expenditure related to animal health measures in regulated zones, with payments made by Germany to beneficiaries by November 30, 2025, is eligible.
Commission Implementing Regulation (EU) 2025/1136
This regulation formally registers ‘Afyon Pastırması’ as a Protected Geographical Indication (PGI). This designation means that only pastırma originating from the Afyon region in Türkiye and meeting specific production standards can use the name ‘Afyon Pastırması’. This legal protection ensures the product’s reputation and prevents unfair competition.
Commission Implementing Regulation (EU) 2025/1137
This regulation provides emergency financial support to agricultural sectors in Czechia (EUR 7,400,000) and Slovenia (EUR 2,900,000) that have been affected by adverse climatic events and natural disasters. The aid must be used to compensate affected farmers for economic losses, based on objective and non-discriminatory criteria, with payments made by December 31, 2025. Both countries must notify the Commission with detailed information on the measures taken and their impact, in particular, that objective and non-discriminatory criteria are applied.
Commission Implementing Regulation (EU) 2025/1127
This regulation specifies which ports are considered “neighbouring container transhipment ports” for the purpose of Regulation (EU) 2023/1805. The included ports are East Port Said (Egypt) and Tanger Med (Morocco). Ships stopping at these ports may be excluded from certain requirements related to the definition of ‘port of call’ under Regulation (EU) 2023/1805.
Commission Implementing Regulation (EU) 2025/1128
This regulation approves a non-minor amendment to the product specification of the Protected Geographical Indication (PGI) ‘Ail rose de Lautrec’. The updated specification becomes the official standard, and producers must adhere to it to use the ‘Ail rose de Lautrec’ designation.
Commission Implementing Regulation (EU) 2025/1135
This regulation imposes a definitive countervailing duty on imports of optical fibre cables (OFC) originating in India, varying from 6.1% to 15.5%. It also adjusts anti-dumping duties to avoid double-counting. The regulation specifies duty rates for individual Indian companies and sets out requirements for commercial invoices needed to apply the individual duty rates, including a specific declaration that must be signed by an official of the exporting entity. The regulation requires declaration of cable-km for imported products. Member States have to report cable-km imports to the Commission on a monthly basis.
Commission Implementing Regulation (EU) 2025/1139
Review of each of legal acts published today:
Commission Delegated Regulation (EU) 2025/1141 of 27 February 2025 supplementing Regulation (EU) 2023/1114 of the European Parliament and of the Council as regards regulatory technical standards specifying the requirements for policies and procedures on conflicts of interest for issuers of asset-referenced tokens
This Commission Delegated Regulation (EU) 2025/1141 supplements Regulation (EU) 2023/1114, focusing on regulatory technical standards for policies and procedures regarding conflicts of interest for issuers of asset-referenced tokens. It aims to ensure that issuers identify, prevent, manage, and disclose conflicts of interest effectively, considering the size, internal organization, and complexity of their operations. The regulation emphasizes the importance of sound governance and the protection of asset-referenced token holders by addressing potential conflicts arising from various relationships and activities, including the management of the reserve of assets. It also specifies requirements for transparency and disclosure to holders and prospective holders of asset-referenced tokens.
The regulation consists of 9 articles. It defines key terms such as ‘connected person’ and ‘group’ to clarify the scope of the regulation. It details specific circumstances that could lead to conflicts of interest detrimental to both the issuer and the holders of asset-referenced tokens, including economic interests, responsibilities, and relationships of connected persons. It outlines the necessary components of conflict of interest policies and procedures, including internal and external communication channels, measures to prevent information exchange, and the management of conflicting activities. Furthermore, it addresses remuneration policies, arrangements with third-party service providers, and the allocation of resources for managing conflicts of interest. Finally, it specifies the requirements for disclosing the nature and source of conflicts of interest and the steps taken to mitigate them, ensuring transparency for token holders.
Key provisions include the requirement for issuers to establish and maintain written policies and procedures that identify and address potential conflicts of interest, differentiating between persistent and occasional conflicts. The regulation mandates the establishment of effective internal and external communication channels, as well as measures to prevent inappropriate influence from connected persons. It also requires issuers to appoint a person responsible for managing conflicts of interest, ensuring their independence and direct reporting to the management body. Additionally, the regulation emphasizes transparency by requiring issuers to disclose detailed information about potential conflicts of interest and the measures taken to mitigate them, making this information accessible to both current and prospective token holders in appropriate languages.
Commission Delegated Regulation (EU) 2025/1142 of 27 February 2025 supplementing Regulation (EU) 2023/1114 of the European Parliament and of the Council with regard to regulatory technical standards specifying the requirements for policies and procedures on conflicts of interest for crypto-asset service providers and the details and methodology for the content of disclosures on conflicts of interest
This Commission Delegated Regulation (EU) 2025/1142 supplements Regulation (EU) 2023/1114, focusing on the regulatory technical standards for policies and procedures regarding conflicts of interest for crypto-asset service providers (CASPs). It details the requirements for identifying, preventing, managing, and disclosing conflicts of interest to protect both the CASPs and their clients. The regulation emphasizes the need for transparent organizational structures and sound governance to maintain trust in financial markets. Additionally, it addresses remuneration policies to ensure they do not create conflicts of interest and includes provisions for personal data processing in compliance with EU data protection laws.
The regulation consists of 9 articles.
* **Article 1** provides definitions for terms like ‘connected person,’ ‘remuneration,’ and ‘group’ to ensure consistent interpretation throughout the regulation.
* **Article 2** specifies circumstances that could affect the objectivity of connected persons and outlines factors for identifying entities with conflicting interests.
* **Article 3** focuses on identifying conflicts of interest that may harm clients, such as financial gains at the client’s expense or incentives to favor one client over another.
* **Article 4** details the requirements for conflict of interest policies and procedures, including their documentation, implementation, and review, as well as the establishment of internal channels for reporting and training.
* **Article 5** addresses remuneration policies, ensuring they do not incentivize actions detrimental to clients or the CASP.
* **Article 6** focuses on personal transactions by connected persons, requiring close scrutiny and monitoring to ensure fairness and transparency.
* **Article 7** outlines the content and accessibility of disclosures regarding conflicts of interest, emphasizing that disclosure alone is not sufficient for managing conflicts.
* **Article 8** sets additional requirements for CASPs providing placing services, addressing potential conflicts related to pricing and preventing undue influence.
* **Article 9** specifies the date of entry into force of the regulation.
The most important provisions for practical use are those concerning the identification, prevention, and disclosure of conflicts of interest. CASPs must establish comprehensive policies and procedures to identify potential conflicts (Articles 2 and 3), implement measures to prevent and manage these conflicts (Article 4), and transparently disclose the nature of these conflicts and the steps taken to mitigate them to their clients (Article 7). Additionally, the requirements regarding remuneration policies (Article 5) and personal transactions (Article 6) are crucial for ensuring that the interests of clients and the CASP are protected.
Commission Delegated Regulation (EU) 2025/1140 of 27 February 2025 supplementing Regulation (EU) 2023/1114 of the European Parliament and of the Council with regard to regulatory technical standards specifying records to be kept of all crypto-asset services, activities, orders and transactions undertaken
This is Commission Delegated Regulation (EU) 2025/1140, which supplements Regulation (EU) 2023/1114, also known as MiCA (Markets in Crypto-Assets regulation). The regulation specifies the records that crypto-asset service providers must keep regarding all crypto-asset services, activities, orders, and transactions they undertake. These standards aim to ensure consistent and comparable record-keeping across the financial sector, enabling competent authorities to effectively supervise and enforce measures within the crypto-asset market. The regulation ensures that records are maintained in a format accessible for future reference and effective supervision by competent authorities.
The regulation is structured into three main sections and an annex. Section 1 defines key terms such as “transaction” and “undertaking a transaction” and sets out general provisions for the retention of records, emphasizing accessibility, immutability, and the ability to analyze data efficiently. Section 2 details record-keeping requirements related to specific crypto-asset services and activities, including policies and procedures, documents outlining rights and obligations, and the safekeeping of clients’ crypto-assets and funds. Section 3 focuses on record-keeping for orders and transactions, specifying the details to be recorded for each. The Annex provides detailed tables outlining the specific records to be kept by crypto-asset service providers, depending on the nature of their services and activities, including communication with clients, market abuse incidents, and outsourcing agreements.
Key provisions include the requirement for crypto-asset service providers to keep records of their policies and procedures, as well as documents setting out the rights and obligations of both the service provider and the client. The regulation also mandates the recording of detailed information about orders and transactions, including the identification of individuals or algorithms involved in investment decisions and the conditions for executing transactions. It also specifies how clients who are natural persons and legal entities should be identified in the records. Furthermore, the regulation requires the use of specific identifiers for crypto-assets and sets standards for recording transactions undertaken by branches of crypto-asset service providers.
Commission Implementing Regulation (EU) 2025/1145 of 10 June 2025 on exceptional support measures for the milk and pigmeat sectors in Germany
This Commission Implementing Regulation (EU) 2025/1145 addresses exceptional support measures for the milk and pigmeat sectors in Germany following an outbreak of foot and mouth disease in January 2025. The regulation allows the EU to part-finance 60% of Germany’s expenditure to support these markets, which were severely affected by the outbreak. This support is intended to compensate for losses due to restrictions on movement and slaughter, ensuring that affected operators receive emergency financial assistance.
The regulation consists of 5 articles and an annex.
– Article 1 defines the scope of the support, linking it to the foot and mouth disease outbreak in Germany on January 10, 2025.
– Article 2 specifies the conditions under which Germany’s expenditure is eligible for Union part-financing, including the duration of animal health measures, the location of affected holdings, the payment deadline of November 30, 2025, and the exclusion of double funding.
– Article 3 sets the maximum amount of Union part-financing at EUR 4,769,278, detailing the maximum quantities of raw milk (1,574,640 kilograms) and pigs (120,000) eligible for compensation, with a provision for adjustments within a 20% limit.
– Article 4 outlines the administrative and on-the-spot checks Germany must carry out to ensure the eligibility and correctness of payments, including verifying the eligibility of applicants, the quantity and value of actual losses, and the absence of double funding.
– Article 5 states that the regulation enters into force on the third day following its publication in the Official Journal of the European Union.
The annex lists the Union and German legislation that define the regulated zones and periods relevant to the support measures.
The most important provisions for practical use are those defining eligibility and the deadlines for payments. Specifically, Article 2 clarifies that only expenditure related to animal health measures taken in the regulated zones and paid by Germany to beneficiaries by November 30, 2025, is eligible for Union part-financing. Additionally, Article 3 sets the maximum amounts and quantities for compensation, providing a clear framework for the financial support available.
Commission Implementing Regulation (EU) 2025/1136 of 10 June 2025 on the registration of the geographical indication Afyon Pastırması (PGI) in the Union register of geographical indications pursuant to Regulation (EU) 2024/1143 of the European Parliament and of the Council
This Commission Implementing Regulation (EU) 2025/1136 officially registers ‘Afyon Pastırması’ as a Protected Geographical Indication (PGI) in the Union register. This means that the name ‘Afyon Pastırması’ can only be used for pastırma (a type of cured meat) that originates from the Afyon region in Türkiye and meets specific production standards. The registration is based on an application received before Regulation (EU) 2024/1143 came into force and proceeded without any objections.
The regulation consists of two articles. Article 1 formally registers ‘Afyon Pastırması’ (PGI) in the Union register of geographical indications, referencing Article 22 of Regulation (EU) 2024/1143. Article 2 states that the regulation will take effect twenty days after its publication in the Official Journal of the European Union. This regulation follows the procedure laid out in Regulation (EU) 2024/1143, which replaced Regulation (EU) No 1151/2012.
The most important provision is Article 1, which grants ‘Afyon Pastırması’ the PGI status. This legal protection ensures that only producers within the specified geographical area (Afyon) and adhering to the defined product specifications can market their product under that name. This protects the product’s reputation and prevents unfair competition.
Commission Implementing Regulation (EU) 2025/1137 of 10 June 2025 providing for emergency financial support for the agricultural sectors affected by adverse climatic events and natural disasters in Czechia and Slovenia, in accordance with Regulation (EU) No 1308/2013 of the European Parliament and of the Council
This Commission Implementing Regulation (EU) 2025/1137 provides emergency financial support to agricultural sectors in Czechia and Slovenia that have been affected by adverse climatic events and natural disasters. The regulation aims to compensate farmers for economic losses impacting the viability of their farms due to events such as torrential rainfall and flooding in Czechia, and unusually high temperatures followed by a cold spell in Slovenia. The support is provided under the framework of Regulation (EU) No 1308/2013, which establishes a common organization of the markets in agricultural products.
The regulation consists of a preamble that outlines the reasons and justifications for the emergency support, followed by three articles that detail the specifics of the aid.
* **Article 1** outlines the financial support available to Czechia (EUR 7,400,000) and Slovenia (EUR 2,900,000). It specifies that the aid should be used to compensate affected farmers for economic losses, based on objective and non-discriminatory criteria. It also sets the deadline for eligible payments as 31 December 2025. Furthermore, it allows for the cumulation of measures under this regulation with other support and the possibility for Czechia and Slovenia to grant additional national support up to 200% of the EU amounts, provided it does not cause market distortion or overcompensation.
* **Article 2** requires Czechia and Slovenia to notify the Commission by 31 August 2025 with detailed information on the measures to be taken, the criteria for granting aid, the intended impact, actions to avoid distortion of competition and overcompensation, payment forecasts, the level of additional national support, and actions to control eligibility and protect the Union’s financial interests. A further notification is required by 30 June 2026, detailing the total amounts paid, the number and type of beneficiaries, and an assessment of the effectiveness of the measures.
* **Article 3** states that the regulation enters into force on the day following its publication in the Official Journal of the European Union.
The most important provisions for the use of this act are the amounts allocated to each country, the requirement to use objective and non-discriminatory criteria, the deadlines for payments and notifications, and the conditions under which additional national support can be granted.
Commission Implementing Regulation (EU) 2025/1127 of 6 June 2025 laying down rules for the application of Regulation (EU) 2023/1805 of the European Parliament and of the Council as regards of identifying neighbouring container transhipment ports
This Commission Implementing Regulation (EU) 2025/1127 specifies which ports are considered “neighbouring container transhipment ports” for the purpose of Regulation (EU) 2023/1805, which concerns the use of renewable and low-carbon fuels in maritime transport. Container ships stopping at these designated ports may be excluded from certain requirements related to the definition of ‘port of call’ under the Regulation (EU) 2023/1805. The regulation identifies ports outside the EU but near Member States that have a high percentage of container transhipment activity. This helps to create a level playing field and streamline compliance for shipping companies.
The regulation consists of two articles and an annex. Article 1 states that the neighbouring container transhipment ports are listed in the annex. Article 2 specifies that the regulation will come into force on the third day following its publication in the Official Journal of the European Union. The annex lists the specific ports that meet the criteria for being considered neighbouring container transhipment ports. The regulation builds upon the criteria and data used in Commission Implementing Regulation (EU) 2023/2297, which identified similar ports under Directive 2003/87/EC.
The most important provision of this regulation is the list of ports included in the Annex: East Port Said (Egypt) and Tanger Med (Morocco). If a port is listed in the Annex, stops of containerships in those ports may be excluded from the definition of ‘port of call’ under the Regulation (EU) 2023/1805. This has implications for how fuel consumption and emissions are calculated under that regulation.
Commission Implementing Regulation (EU) 2025/1128 of 6 June 2025 approving a non-minor amendment to the product specification of the protected geographical indication Ail rose de Lautrec pursuant to Regulation (EU) 2024/1143 of the European Parliament and of the Council
This Commission Implementing Regulation (EU) 2025/1128 approves a non-minor amendment to the product specification of the protected geographical indication (PGI) ‘Ail rose de Lautrec’. The regulation acknowledges that France applied for this amendment under the previous Regulation (EU) No 1151/2012, and the application was published in the Official Journal. Since no objections were received, the Commission has adopted this regulation to formally approve the amendment.
The structure of the act is straightforward, containing a preamble that outlines the legal basis and reasoning for the decision, followed by two articles. Article 1 states that the amendment to the product specification for ‘Ail rose de Lautrec’ is approved. Article 2 specifies that the regulation will enter into force twenty days after its publication in the Official Journal of the European Union. This regulation repeals Regulation (EU) No 1151/2012.
The most important provision is Article 1, which legally validates the updated product specification for ‘Ail rose de Lautrec’. This means that the amended specification is now the official standard for this PGI product, and producers must adhere to it to use the ‘Ail rose de Lautrec’ designation.
Commission Implementing Regulation (EU) 2025/1135 of 10 June 2025 imposing a definitive countervailing duty on imports of optical fibre cables originating in India and amending Implementing Regulation (EU) 2024/3014 imposing a definitive anti-dumping duty on imports of optical fibre cables originating in India
Here’s a breakdown of Commission Implementing Regulation (EU) 2025/1135:
**1. Essence of the Act:**
This regulation imposes a definitive countervailing duty on imports of optical fibre cables (OFC) originating in India. It follows an investigation that found Indian OFC producers benefited from subsidies, causing material injury to the Union industry. The regulation aims to counteract these subsidies and restore fair competition in the EU market. Additionally, it amends Implementing Regulation (EU) 2024/3014 to adjust anti-dumping duties on the same product, ensuring no double-counting of the effects of subsidies and dumping.
**2. Structure and Main Provisions:**
* **Procedure:** Details the initiation of the investigation, consultations with the Indian government, sampling of EU producers and Indian exporters, verification visits, and disclosures made to interested parties.
* **Product Definition:** Defines the specific types of optical fibre cables subject to the duty, excluding certain specialized cables.
* **Subsidy Analysis:**
* Lists subsidy schemes investigated, those found not to confer a benefit, and those found to be countervailable (i.e., subject to duties).
* Details the legal basis, eligibility, practical implementation, and calculation of subsidy amounts for each countervailable scheme, including:
* Modified Special Incentive Package Scheme (M-SIPS)
* Interest Equalization Scheme for Export Financing (IES)
* Remission of Duties and Taxes on Exported Products (RoDTEP)
* Advance Authorization Scheme (AAS)
* Duty Drawback Scheme (DDS)
* Export Promotion of Capital Goods Scheme (EPCGS)
* Import of Goods at Concessional Rate of Duty Scheme (IGCRS)
* State government schemes by the State of Maharashtra, Telangana and Madhya Pradesh.
* **Injury Determination:** Assesses the injury suffered by the Union industry due to the subsidized imports, considering factors like production volume, sales, market share, prices, and profitability.
* **Causation Analysis:** Examines the causal link between the subsidized imports and the injury to the Union industry, while also considering other potential factors like imports from China and other third countries.
* **Union Interest:** Evaluates whether imposing duties is in the overall interest of the EU, considering the impact on the Union industry, importers, and users.
* **Definitive Countervailing Measures:**
* Imposes specific countervailing duty rates for individual Indian companies and a general rate for all other imports from India.
* Adjusts anti-dumping duties to avoid double-counting, reducing them by the amount of export-contingent subsidies.
* Includes a special monitoring clause to prevent circumvention of the duties.
* **Final Provisions:** Specifies the entry into force of the regulation and includes an annex listing Indian cooperating exporting producers not included in the sample.
**3. Main Provisions Important for Use:**
* **Article 1:** Specifies the exact product definition of the cables that are subject to the duty.
* **Article 1(2):** This is the core of the regulation, listing the definitive countervailing duty rates for specific Indian companies and the “all other imports” rate.
* **Article 1(3):** Sets out the requirements for commercial invoices needed to apply the individual duty rates, including a specific declaration that must be signed by an official of the exporting entity.
* **Article 2:** Amends the previous anti-dumping regulation (EU) 2024/3014, adjusting the anti-dumping duty rates and introducing a mechanism to adjust those rates if the countervailing duties are modified or removed in the future.
* **Article 1(4):** Requires declaration of cable-km for imported products.
* **Article 1(5):** Requires Member States to report cable-km imports to the Commission on a monthly basis.
* **The Annex:** Lists the Indian cooperating exporting producers not included in the sample, who are subject to a specific duty rate.
Commission Implementing Regulation (EU) 2025/1139 of 6 June 2025 imposing a provisional anti-dumping duty on imports of hardwood plywood from the People’s Republic of China
Here’s a breakdown of Commission Implementing Regulation (EU) 2025/1139, which imposes a provisional anti-dumping duty on imports of hardwood plywood from China:
**1. Essence of the Act:**
This regulation introduces a temporary anti-dumping duty on hardwood plywood imported from China into the European Union. The European Commission has determined that these imports are being dumped (sold at unfairly low prices), causing material injury to the EU’s hardwood plywood industry. The regulation aims to counteract these unfair trade practices and protect EU producers.
**2. Structure and Main Provisions:**
* **Initiation and Investigation:** The regulation stems from an anti-dumping investigation initiated in October 2024 following a complaint by the Greenwood Consortium, representing the EU hardwood plywood industry.
* **Registration of Imports:** Imports of hardwood plywood from China were already subject to registration, a preliminary step allowing for potential retroactive duty collection.
* **Interested Parties:** The Commission engaged with various stakeholders, including EU producers, Chinese exporters, importers, and industry associations, providing opportunities for them to comment and participate in the investigation.
* **Sampling:** Initially, the Commission planned to examine a sample of exporting producers but ultimately abandoned this approach due to non-cooperation from selected companies.
* **Product Scope:** The regulation defines the product under investigation as hardwood plywood (excluding bamboo and okoumé) with specific ply thickness and outer layer composition.
* **Dumping Determination:** The Commission found significant distortions in the Chinese market, making it inappropriate to use domestic prices for normal value calculation. Instead, it constructed a normal value based on costs in Türkiye, a representative country.
* **Injury Assessment:** The regulation details the injury suffered by the EU industry, including decreased production, sales, profitability, and market share, coinciding with increased dumped imports from China.
* **Causation:** The Commission established a causal link between the dumped imports and the injury to the EU industry, discounting other potential factors.
* **Union Interest:** The regulation assesses the impact of the duties on various stakeholders, concluding that imposing measures is in the overall interest of the EU.
* **Provisional Measures:** The regulation sets provisional anti-dumping duty rates: 25.1% for Pizhou Jiangshan Wood Co., Ltd. and 62.4% for all other imports originating in China.
* **Invoice Requirement:** To ensure correct duty application, importers must present a specific commercial invoice.
* **Discontinuation of Registration:** The registration of imports is discontinued.
**3. Main Provisions for Use:**
* **Duty Rates:** Importers of hardwood plywood from China need to be aware of the applicable duty rates (25.1% or 62.4%) as this will directly impact the cost of imports.
* **Invoice Requirement:** To benefit from the lower duty rate (25.1%), importers must ensure that their Chinese supplier (Pizhou Jiangshan Wood Co., Ltd.) provides a compliant commercial invoice with the required declaration.
* **Product Scope:** It’s crucial to verify that the imported plywood falls within the precise product definition outlined in the regulation to determine if the anti-dumping duty applies.
* **Monitoring:** The Commission will monitor imports of plywood with thin outer layers of softwood veneer.
* **Comments:** All interested parties have the right to submit comments on this Regulation to the Commission within 15 calendar days of the date of entry into force of this Regulation.
