CHAPTER 3PAYMENT AND CONTROL

Article 7Budget commitments

1.

The Commission decision authorising signature of each annual financing agreement shall give rise to commitment of the appropriations in the Community budget.

2.

The first annual financing agreement may only be signed on behalf of the Commission when the following conditions have been met:

  • the programme has been approved by the Commission, and,

  • the multiannual financing agreement has been signed by both parties.

F13.

Taking account of the requirements of Article 10, the Commission shall de-commit any part of a commitment which has not been settled by the payment on account or for which it has not received an acceptable payment application by the following dates:

(a)

for appropriations corresponding to the 2000 annual allocation: 31 December 2004 ;

(b)

for appropriations corresponding to the annual allocation for 2001: 31 December 2005 ;

(c)

for appropriations corresponding to the annual allocation for 2002: 31 December 2006 ;

(d)

for appropriations corresponding to the annual allocation for 2003: 31 December 2006 ;

(e)

for appropriations corresponding to the annual allocation for 2004: 31 December 2007 ;

(f)

for appropriations corresponding to the annual allocation for 2005: 31 December 2008 ;

(g)

for appropriations corresponding to the annual allocation for 2006: 31 December 2008 .