20.5.2014 Official Journal of the European Union L 1491 | (Legislative acts) REGULATIONS REGULATION (EU) No 508/2014 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 15 May 2014 on the European Maritime and Fisheries Fund and repealing Council Regulations (EC) No 2328/2003, (EC) No 861/2006, (EC) No 11982006 and (EC) No 791/2007 and Regulation (EU) No 1255/2011 of the European Parliament and of the Council THE EUROPEAN PARLIAMENT AND THE COUNCIL OF THE EUROPEAN UNION, Having regard to the Treaty on the Functioning of the European Union, and in particular Article 42, Article 43(2), Article 91(1), Article 100(2), Article 173(3), Articles 175 and188, Article 192(1), Article 194(2), Article 195(2) and Article 349 thereof, Having regard to the proposal from the European Commission, After transmission of the draft legislative act to the national parliaments, Having regard to the opinions of the European Economic and Social Committee (%), Having regard to the opinion of the Committee of the Regions (2), Acting in accordance with the ordinary legislative procedure (3), Whereas: (1) The Communication from the Commission to the European Parliament, the Council, the European Economic and Social Committee and the Committee of the Regions of 13 July 2011 entitled ‘Reform of the Common Fisheries Policy’ set out the potential challenges, objectives and orientations for the Common Fisheries Policy (‘CFP) after 2013. In the light of the debate that followed the publication of that Communication, the CFP was reformed by Regulation (EU) No 1380/2013 of the European Parliament and of the Council (*). The reform of the CFP covers all the main elements of the CFP, including its financial aspects. In order to attain the objectives of that reform, it is appropriate to repeal Council Regulation (EC) No 2328/2003 (°), Council Regulation (EC) No 861/2006 (°), Council Regulation (EC) No 1198/2006 (7) and Council Regulation (EC) No 791/2007 (%) and to replace them with this Regulation. () OJ C 299, 4.10.2012, p. 133 and O] C 271, 19.9.2013, p. 154. (3 OJ C 391, 18.12.2012, p. 84. (’) Position of the European Parliament of 16 April 2014 (not yet published in the Official Journal) and decision of the Council of 8 May 2014. (*) Regulation (EU) No 1380/2013 of the European Parliament and of the Council of 11 December 2013 on the Common Fisheries Policy, amending Council Regulations (EC) No 1954/2003 and (EC) No 1224/2009 and repealing Council Regulations (EC) No 2371/2002 and (EC) No 639/2004 and Council Decision 2004/585/EC (O] L 354, 28.12.2013, p. 22). (°) Council Regulation (EC) No 2328/2003 of 22 December 2003 introducing a scheme to compensate for the additional costs incurred in the marketing of certain fishery products from the Azores, Madeira, the Canary Islands and the French departments of Guiana and Réunion, as a result of those regions’ remoteness (O] L 345, 31.12.2003, p. 34). (°) Council Regulation (EC) No 861/2006 of 22 May 2006 establishing Community financial measures for the implementation of the Common Fisheries Policy and in the area of the Law of the Sea (O] L 160, 14.6.2006, p. 1). (7) Council Regulation (EC) No 1198/2006 of 27 July 2006 on the European Fisheries Fund (O] L 223, 15.8.2006, p. 1). (®) Council Regulation (EC) No 791/2007 of 21 May 2007 introducing a scheme to compensate for the additional costs incurred in the marketing of certain fishery products from the outermost regions the Azores, Madeira, the Canary Islands, French Guiana and Réunion (O] L 176, 6.7.2007, p. 1).