ANNEX U.K. STATUTES OF THE CLARIN ERIC

CHAPTER 5 U.K. FINANCE

Article 15 Budgetary principles and accounts U.K.

15.1. The financial year of CLARIN ERIC shall begin on 1 January and shall end on 31 December of each year. U.K.

15.2. All items of revenue and expenditure of CLARIN ERIC shall be included in estimates to be drawn up for each financial year and shall be shown in the annual budget. The annual budget shall be in compliance with the principles of transparency. U.K.

15.3. The accounts of CLARIN ERIC shall be accompanied by a report on budgetary and financial management of the financial year. U.K.

15.4. CLARIN ERIC shall be subject to the requirements of the applicable law as regards preparation, filing, auditing and publication of accounts. U.K.

15.5. CLARIN ERIC shall ensure that the appropriations are used in accordance with the principles of sound financial management. U.K.

15.6. CLARIN ERIC shall record the costs and revenues of its economic activities separately. U.K.

Article16 Liability U.K.

16.1. CLARIN ERIC shall be liable for its debts. U.K.

16.2. The members are not jointly liable for the debts of CLARIN ERIC. U.K.

16.3. The members’ financial liability towards CLARIN ERIC’s debts shall be limited to each individual member’s annual contribution as specified in Annex 2. U.K.

16.4. CLARIN ERIC shall take appropriate insurance to cover the risks specific to the construction and operation of CLARIN. U.K.