Brussels, 27/12/2001 (Agence Europe) - The European Commission has opened a formal investigation procedure into a draft Italian aid scheme granting an incentive to shipowners for scrapping single hull tankers over 20 years of age. Under the proposed scheme, shipowners who demolish oil tankers equipped to transport crude oil or oil and chemicals would benefit from maximum aid of just under EUR 4 million. The Commission feels that the proposed aid may be authorised if the positive impact on the environment does not unduly distort competition. While recognising the objectives of the proposed scheme (which go further than Community legislation by encompassing a broader category of ships), the Commission is concerned that in its present form the lack of clear restrictions on reinvestment may lead to negative environmental side effects or unduly distort competition.