http://www.legislation.gov.uk/eur/2011/1173/chapter/IIIRegulation (EU) No 1173/2011 of the European Parliament and of the Council of 16 November 2011 on the effective enforcement of budgetary surveillance in the euro areaRegulation (EU) No 1173/2011 of the European Parliament and of the CouncilRegulation (EU) No 1173/2011 of the European Parliament and of the Council of 16 November 2011 on the effective enforcement of budgetary surveillance in the euro area2020-12-11King's Printer of Acts of Parliamenthttps://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32011R1173texttext/xmlen2011-11-16 CHAPTER III <Strong>SANCTIONS IN THE PREVENTIVE PART OF THE STABILITY AND GROWTH PACT</Strong> Interest-bearing deposits Article 4 1 If the Council adopts a decision establishing that a Member State failed to take action in response to the Council recommendation referred to in the second subparagraph of Article 6(2) of Regulation (EC) No 1466/97, the Commission shall, within 20 days of adoption of the Council’s decision, recommend that the Council, by a further decision, require the Member State in question to lodge with the Commission an interest-bearing deposit amounting to 0,2 % of its GDP in the preceding year. 2 The decision requiring a lodgement shall be deemed to be adopted by the Council unless it decides by a qualified majority to reject the Commission’s recommendation within 10 days of the Commission’s adoption thereof. 3 The Council, acting by a qualified majority, may amend the Commission’s recommendation and adopt the text so amended as a Council decision. 4 The Commission may, following a reasoned request by the Member State concerned addressed to the Commission within 10 days of adoption of the Council’s decision establishing that a Member State failed to take action referred to in paragraph 1, recommend that the Council reduce the amount of the interest-bearing deposit or cancel it. 5 The interest-bearing deposit shall bear an interest rate reflecting the Commission’s credit risk and the relevant investment period. 6 If the situation giving rise to the Council’s recommendation referred to in the second subparagraph of Article 6(2) of Regulation (EC) No 1466/97 no longer exists, the Council, on the basis of a further recommendation from the Commission, shall decide that the deposit and the interest accrued thereon be returned to the Member State concerned. The Council may, acting by a qualified majority, amend the Commission’s further recommendation.