15.8.2006 Official Journal of the European Union L223/1 I (Acts whose publication is obligatory) COUNCIL REGULATION (EC) No 1198/2006 of 27 July 2006 on the European Fisheries Fund THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty establishing the European Commu- nity, and in particular Articles 36 and 37 thereof, Having regard to the proposal from the Commission, Having regard to the opinion of the European Parliament (1), Having regard to the opinion of the European Economic and Social Committee (2), Having regard to the opinion of the Committee of the Regions (3), Whereas: 1 The development of the Community fishing fleet must be regulated in particular according to decisions that the Council and the Commission are called upon to take by virtue of Chapter II of Council Regulation (EC) No 2371/2002 of 20 December 2002 on the conserva- tion and sustainable exploitation of fisheries resources under the Common Fisheries Policy (). The objective of the common fisheries policy should be to provide for sustainable exploitation of living aquatic resources and of aquaculture in the context of sustainable development, taking account of environmental, economic and social aspects in a balanced manner. The scope of the common fisheries policy extends to the conservation, management and exploitation of living aquatic resources and aquaculture, as well as to the pro- cessing and marketing of fisheries and aquaculture prod- ucts in so far as those activities are practised on the territory of Member States, in Community waters or by Community fishing vessels or nationals of Member States. (") Opinion delivered on 6 July 2005 (not yet published in the Official Journal). () OJ C 267, 27.10.2005, p. 50. Opinion delivered following non- compulsory consultation. () O] C 164, 5.7.2005, p. 31. Opinion delivered following non- compulsory consultation. (%) OJ L 358, 31.12.2002, p. 59. 4 Under Article 33(2) of the Treaty, account must be taken of the particular nature of the activity which results from the social structure of the sector and from structural and natural disparities between the various regions involved in fishing activities. The sustainable development component of the common fisheries policy has been integrated into the rules govern- ing the Structural Funds since 1993. Its implementation should be pursued in the context of sustainable develop- ment by means of the European Fisheries Fund (hereinaf- ter EFF). Since the principal objective of this Regulation, namely to further the common fisheries policy, cannot be sufficiently achieved by the Member States given the structural prob- lems encountered in the development of the fisheries sec- tor and the limits on the financial resources of the Member States in an enlarged Union, and can therefore be better achieved at Community level by providing multi-annual financing focused on the relevant priorities, the Commu- nity may adopt measures, in accordance with the prin- ciple of subsidiarity as set out in Article 5 of the Treaty. In accordance with the principle of proportionality, as set out in that Article, this Regulation does not go beyond what is necessary to achieve this objective. The common fisheries policy and therefore the EFF must incorporate the Community’s priorities for sustainable development as defined in the conclusions of the Lisbon European Council of 23 and 24 March 2000 and the Gothenburg European Council of 15 and 16 June 2001. Programming should ensure coordination of the EFF with other funds geared to sustainable development and with the Structural Funds and other Community funds. The activity of the EFF and the operations it helps to finance should be compatible with other Community poli- cies and comply with all Community legislation.