CHAPTER I, GENERAL PROVISIONS
Article 1: Subject matter
1. This Regulation establishes a framework for strengthening the semiconductor sector at Union level, in particular through the following measures:
(a) establishment of the Chips for Europe Initiative (the 'Initiative');
(b) setting the criteria to recognise and to support first-of-a-kind Integrated Production Facilities and Open EU Foundries that foster the security of supply of semiconductors in the Union;
(c) setting up a coordination mechanism between the Member States and the Commission for monitoring the supply of semiconductors and crisis response to semiconductor shortages.
Note: This is not the final text of the European Chips Act. This is the text of the European Chips Act Proposal of February 2022.